People earning not exceeding Rs600,000 will be exempted from tax
ISLAMABAD – The federal government has introduced five slabs to impose income tax on salaries class in the budget for fiscal year 2024-25.
The proposed finance bill says people earning not exceeding Rs600,000 per year or Rs50,000 per month will be exempted from the tax. Where taxable income exceeds Rs1,200,000 but does not exceed Rs2,200,0000, the government has proposed imposition of Rs30,000 in addition to 15pc of the amount.
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