Search

Pakistan Income Tax Slabs in Budget 2024-25

01:05 PM | 14 Jun, 2024
Pakistan Income Tax Slabs in Budget 2024-25
Source: File Photo

The federal government has announced Rs1.761 trillion in new revenue measures for the upcoming fiscal year. 

For salaried poople, the exemption limit remained unchanged at Rs50,000 per month. The government however proposed significant changes to taxable income above that threshold, expected to raise an additional Rs75 billion.

Tax rate for those earning between Rs50,000 and Rs100,000 per month has been increased from 2.5% to 5% on income above Rs50,000 in this bracket. People earning between Rs100,000 and Rs200,000 per month will now pay 15pc instead of 12.2pc on income above Rs100,000.

Income Tax 2024-25

Taxable Income Bracket  Tax
Does not exceed 600,000 0%
600,001 - 1,200,000 5% of the amount exceeding 600,000
1,200,001 - 2,200,000 30,000 + 15% of the amount exceeding 1,200,000
2,200,001 - 3,200,000 180,000 + 25% of the amount exceeding 2,200,000
3,200,001 - 4,100,000 430,000 + 30% of the amount exceeding 3,200,000
Exceeds 4,100,000 700,000 + 35% of the amount exceeding 4,100,000

For those earning between Rs200,000 and Rs366,000 per month, the tax rate has risen from 22.5% to 25%, with the fixed annual amount increased from Rs165,000 to Rs180,000.

Individuals with monthly incomes between Rs266,000 and Rs342,000 will be taxed at 30%, up from 27.5%, with the fixed tax increasing to Rs430,000 from Rs300,000 annually.

Daily Pakistan Global Web Desk

Advertisement

US Dollar, Euro, Pound, Dirham, Riyal Rate in Pakistan Today Open Market Rates - 15 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 15, 2024 (Monday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.8 for buying and 280.75 for selling. Euro's buying rate moves up to 301.25 and selling rate is 303.15.

British Pound rate is 355.15 for buying, and 358.65 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 08:00 AM)       
Currency Symbol Buying Selling
US Dollar USD 279.8 280.75
Euro EUR 301.25 303.15
UK Pound Sterling GBP 355.15 358.65
U.A.E Dirham AED 76.5 77.25
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741 749
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 309.15 311.65
Thai Bhat THB 7.5 7.65



Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter