Wage Tax Slabs 2021-2022 Pakistan


Right here we’re going to focus on every thing it’s best to know in regards to the calculation of tax in your wage revenue in accordance with the most recent Wage tax slabs 2021-2022 charges in Pakistan.

DIVISION OF SALARY INCOME IN PAKISTAN

Wage Earnings is topic to the next divisions as per the overall practices and in accordance with the Earnings Tax Ordinance, 2001. Take a look:

  • Fundamental Wage
  • Home Lease Allowance (HRA)
  • Conveyance Allowance
  • Medical and Different Allowances

BASIC SALARY

It’s a set amount of cash that you could be obtain with none additional funds or deductions. It doesn’t embrace any sort of allowances, commissions, bonuses, or time beyond regulation pay.

HOUSE RENT ALLOWANCE (HRA)

The Home Lease Allowance (HRA) consists of a sure proportion of your gross wage. It’s set in accordance with the quantity of your take house wage. Normally, a home hire allowance is round 40 to 50 % of your primary wage. 

CONVEYANCE ALLOWANCE

Round 10-15 % of the salaries are allotted for conveyance allowances. For instance, if you happen to’re incomes PKR 50,000 month-to-month, a conveyance allowance of round PKR 5,000 to 7,000 can be included on this quantity.

MEDICAL AND OTHER ALLOWANCES

Many employers, provide individually quantity of medical allowance. Similar is the case with different kinds of allowances similar to leisure allowances, journey allowances and gas allowances.

Latest Salary Tax Rates 2021 2022 in Pakistan
Wage Tax Slabs 2021-2022 Pakistan

LATEST INCOME TAX SLAB RATES IN PAKISTAN FOR FISCAL YEAR 2021-22

In accordance with the revenue tax slabs for FY 2021-22, a certain quantity of revenue tax can be deducted from the salaries of people incomes greater than PKR 600,000/- each year. Beforehand, this wage slab was not included within the revenue tax deduction bracket. Now, let’s be taught extra in regards to the newest tax slab charges in Pakistan for the fiscal 12 months 2021-22

Taxable Earnings Earnings Tax Fee in Pakistan
The place taxable revenue exceeds Rs. 600,000 however doesn’t exceed Rs. 1,200,000 5% of the quantity exceeding Rs. 600,000
The place taxable revenue exceeds Rs. 1,200,000 however doesn’t exceed Rs. 1,800,000 Rs. 30,000 plus 10% of the quantity exceeding Rs. 1,200,000
The place taxable revenue exceeds Rs. 1,800,000 however doesn’t exceed Rs. 2,500,000 Rs. 90,000 plus 15% of the quantity exceeding Rs. 1,800,000
The place taxable revenue exceeds Rs.2,500,000 however doesn’t exceed Rs. 3,500,000 Rs. 195,000 plus 17.5% of the quantity exceeding Rs. 2,500,000
The place taxable revenue exceeds Rs. 3,500,000 however doesn’t exceed Rs. 5,000,000 Rs. 370,000 plus 20% of the quantity exceeding Rs. 3,500,000
The place taxable revenue exceeds Rs. 5,000,000 however doesn’t exceeds Rs. 8,000,000 Rs. 670,000 plus 22.5% of the quantity exceeding Rs. 5,000,000
The place taxable revenue exceeds Rs. 8,000,000 however doesn’t exceeds Rs. 12,000,000 Rs. 1,345,000 plus 25% of the quantity exceeding Rs. 8,000,000
The place taxable revenue exceeds Rs. 12,000,000 however doesn’t exceeds Rs. 30,000,000 Rs. 2,345,000 plus 27.5% of the quantity exceeding Rs. 12,000,000
The place taxable revenue exceeds Rs. 30,000,000 however doesn’t exceeds Rs. 50,000,000 Rs. 7,295,000 plus 30% of the quantity exceeding Rs. 30,000,000
The place taxable revenue exceeds Rs. 50,000,000 however doesn’t exceeds Rs. 75,000,000 Rs. 13,295,000 plus 32.5% of the quantity exceeding Rs. 50,000,000
The place taxable revenue exceeds Rs. 75,000,000 Rs. 21,420,000 plus 35% of the quantity exceeding Rs. 75,000,000]

Observe: The aforementioned knowledge has been fetched from the official web site of the Federal Board of Income (FBR). It should assist you to to calculate the speed of tax on wage in Pakistan.

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