Understanding your salary tax deductions for the fiscal year 2024-2025 in Pakistan doesn’t have to be complicated. With the help of a salary tax calculator, you can quickly determine how much tax will be deducted from your monthly income.
These calculators take into account the latest tax slabs, exemptions, and applicable deductions, providing accurate and hassle-free results.
Whether you’re an employee or self-employed, using a salary tax calculator ensures you stay informed about your net salary and tax obligations, making financial planning easier and more efficient.
Navigating Salary Tax Deductions Made Simple
Let’s be honest, calculating how much tax will be deducted from your salary can feel overwhelming. But don’t worry, we’ve got you covered!
In this guide, we’ll simplify the process step by step. By the end, you’ll confidently know how to calculate your salary tax deductions for the fiscal year 2024-2025 in Pakistan.
Tax Calculator Pakistan 2024-2025
| Gross Salary | 101,000 | ||
| Tax Rate | 15% | ||
| Fixed Tax | 58,333 | ||
| Monthly Tax | 58,483 | ||
| Salary After Tax Deduction | 42,517 | ||
| Yearly Income | 1,212,000 | ||
| Yearly Tax | 701,800 | ||
| Yearly Income After Tax | 510,200 | ||
Salary Tax Slabs for 2024-2025
| Exceeding | Start Salary | End Salary | Per Month | Tax Rate | Fixed Tax |
| – | – | 600,000 | 50,000 | – | – |
| 600,000 | 600,001 | 1,200,000 | 100,000 | 5% | – |
| 1,200,000 | 1,200,001 | 2,200,000 | 183,333 | 15% | 58,333 |
| 2,200,000 | 2,200,001 | 3,200,000 | 266,667 | 25% | 58,333 |
| 3,200,000 | 3,200,001 | 4,100,000 | 341,667 | 30% | 58,333 |
| 4,100,000 | 4,100,001 | 341,667 | 35% | 58,333 |
The Federal Board of Revenue (FBR) has specified the following tax rates for salaried individuals:
- Income up to Rs. 600,000/year: No Tax
- Income between Rs. 600,001 and Rs. 1,200,000: Tax is 5% of the amount exceeding Rs. 600,000.
- Income between Rs. 1,200,001 and Rs. 2,200,000: Tax is Rs. 30,000 + 15% of the amount exceeding Rs. 1,200,000.
- Income between Rs. 2,200,001 and Rs. 3,200,000: Tax is Rs. 180,000 + 25% of the amount exceeding Rs. 2,200,000.
- Income between Rs. 3,200,001 and Rs. 4,100,000: Tax is Rs. 430,000 + 30% of the amount exceeding Rs. 3,200,000.
- Income above Rs. 4,100,000: Tax is Rs. 700,000 + 35% of the amount exceeding Rs. 4,100,000.
Simplify Your Calculation with Our Excel Tool
We’ve got you covered with an easy-to-use Excel file! Simply put or integrate with your existing salary sheet, and it will automatically calculate your tax for the 2024-2025 fiscal year based on the current tax slabs.
Download the Tax Calculator below and take control of your finances today!
Tax doesn’t have to be a mystery. With a clear understanding of the rules and the right tools, you’ll always know where you stand.
Note: This Excel sheet is only compatible with the latest version of Office 2024. So download the latest version.
The post is shared by INCPak Member Fahim Shaikh
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