Income Tax Calculator for fiscal year 2024-25

Pakistan’s federal government has increased the income tax rate for individuals earning Rs. 600,000 or more per year in the federal budget for the fiscal year 2024-25.

People earning Rs. 50,000 per month will be exempt from income tax, as the government has introduced various tax slabs, with rates going up to 45%. Specifically, those earning a monthly salary of Rs. 50,000 will not be subject to income tax.

### Income Tax Updates 2024-25
- Individuals earning between Rs. 600,001 and Rs. 1,200,000 annually will now pay a 5% income tax, an increase from Rs. 1,250 to Rs. 2,500.

### Income Tax Calculator 2024
- **Income Range: 0 – Rs. 600,000**: No Tax
- **Income Range: Rs. 600,001 – Rs. 1,200,000**: 15% of the amount exceeding Rs. 600,000
- **Income Range: Rs. 1,200,001 – Rs. 1,600,000**: Rs. 90,000 + 20% of the amount exceeding Rs. 1,200,000
- **Income Range: Rs. 1,600,001 – Rs. 3,600,000**: Rs. 170,000 + 30% of the amount exceeding Rs. 1,600,000
- **Income Range: Rs. 3,600,001 – Rs. 5,600,000**: Rs. 650,000 + 40% of the amount exceeding Rs. 3,600,000
- **Income Range: Rs. 5,600,001 and above**: Rs. 1,610,000 + 45% of the amount exceeding Rs. 5,600,000

Furthermore, individuals earning between Rs. 1,200,001 and Rs. 2,200,000 annually (or Rs. 183,344 per month) will face a 15% tax rate, increasing their tax from Rs. 11,667 to Rs. 15,000. Those earning between Rs. 2,200,001 and Rs. 3,200,000 annually (or Rs. 267,667 per month) will be taxed at 25%.

For those earning between Rs. 3,200,001 and Rs. 4,100,000 annually (or Rs. 341,667 per month), the new tax rate will be 30%, raising their monthly tax to Rs. 53,333 from the previous Rs. 47,468.