The federal govt has announced newly revised pay scales in its annual budget for 2022-2023 on 10 June 2022. You can easily calculate your income tax after budget 2022-23. Further detail of income tax slabs is as under;
Income Tax slabs in Pakistan Budget 2022
| SR.NO | TAXABLE INCOME | TAX RATE |
|---|---|---|
| 1 | Where the taxable income does not exceed Rs600,000 | 0 |
| 2 | Where the taxable income exceeds Rs600,000 but does not exceed Rs1,200,000 | Rs100 |
| 3 | Where taxable income exceeds Rs1,200,000 but does not exceed Rs2,400,000 | 7% of the amount exceeding Rs1,200,000 |
| 4 | Where taxable income exceeds Rs2,400,000 but does not exceed Rs3,600,000 | Rs84,000 + 12.5% of the amount exceeding Rs2,400,000 |
| 5 | Where taxable income exceeds Rs3,600,000 but does not exceed Rs6,000,000 | Rs234,000 + 17.5% of the amount exceeding Rs3,600,000 |
| 6 | Where taxable income exceeds Rs. 6,000,000 but does not exceed Rs12,000,000 | Rs654,000 + 22.5% of the amount exceeding Rs6,000,000 |
| 7 | Where taxable income exceeds Rs12,000,000 | Rs2,004,000 + 32.5% of the amount exceeding Rs12,000,000. |
Personal income tax rates Budget 2022
The following tax rates apply where the income of the individual from salary exceeds 75% of taxable income.
| TAXABLE INCOME (PKR) | – | TAX ON COLUMN 1 (PKR) | TAX ON THE EXCESS OF COLUMN 1 (%) |
|---|---|---|---|
| Over (column 1) | Not over | ||
| 0 | 600,000 | 0 | |
| 600,000 | 1,200,000 | 5 | |
| 1,200,000 | 1,800,000 | 30,000 | 10 |
| 1,800,000 | 2,500,000 | 90,000 | 15 |
| 2,500,000 | 3,500,000 | 195,000 | 17.5 |
| 3,500,000 | 5,000,000 | 370,000 | 20 |
| 5,000,000 | 8,000,000 | 670,000 | 22.5 |
| 8,000,000 | 12,000,000 | 1,345,000 | 25 |
| 12,000,000 | 30,000,000 | 2,345,000 | 27.5 |
| 30,000,000 | 50,000,000 | 7,295,000 | 30 |
| 50,000,000 | 75,000,000 | 13,295,000 | 32.5 |
| 75,000,000 | 21,420,000 | 35 |
