Pakistan Tax Calculator 2023 24

Pakistan Income Tax Slabs (FY 2023-24):

Up to PKR 600,000: 0%
PKR 600,001 - 1,200,000: 2.5% of amount exceeding PKR 600,000
PKR 1,200,001 - 2,400,000: PKR 15,000 + 12.5% of amount exceeding PKR 1,200,000
PKR 2,400,001 - 3,600,000: PKR 165,000 + 20% of amount exceeding PKR 2,400,000
PKR 3,600,001 - 6,000,000: PKR 405,000 + 25% of amount exceeding PKR 3,600,000
PKR 6,000,001 - 12,000,000: PKR 1,005,000 + 32.5% of amount exceeding PKR 6,000,000
Above PKR 12,000,000: PKR 2,955,000 + 35% of amount exceeding PKR 12,000,000

Income Tax Payable:

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1. Pakistan Income Tax Slabs 2023-24

The Pakistani income tax system uses progressive tax slabs where higher income is taxed at higher rates. For the fiscal year 2023-24, the tax slabs are as follows:

Income Range (PKR)	Tax Rate
Up to 600,000	0%
600,001 - 1,200,000	2.5% of amount exceeding 600,000
1,200,001 - 2,400,000	PKR 15,000 + 12.5% of excess over 1,200,000
2,400,001 - 3,600,000	PKR 165,000 + 20% of excess over 2,400,000
3,600,001 - 6,000,000	PKR 405,000 + 25% of excess over 3,600,000
6,000,001 - 12,000,000	PKR 1,005,000 + 32.5% of excess over 6,000,000
Above 12,000,000	PKR 2,955,000 + 35% of excess over 12,000,000

2. How Tax Calculation Works

The tax is calculated progressively, meaning different portions of your income are taxed at different rates. For example, if someone earns PKR 1,500,000:

First PKR 600,000: 0% tax = PKR 0
Next PKR 600,000 (600,001-1,200,000): 2.5% = PKR 15,000
Remaining PKR 300,000 (1,200,001-1,500,000): 12.5% = PKR 37,500
Total tax = PKR 0 + 15,000 + 37,500 = PKR 52,500

3. Important Notes

Details:

These rates apply to salaried individuals for the fiscal year 2023-24
Different rates may apply to non-salaried individuals and companies
Tax credits and deductions may apply in certain cases
Always consult with a tax professional for official tax filing

4. Using the Calculator

Tips:

Enter your annual income in Pakistani Rupees (PKR)
The calculator will automatically apply the progressive tax rates
Result shows the total tax liability for the year

5. Frequently Asked Questions (FAQ)

Q1: Is there any tax exemption?
A: Yes, income up to PKR 600,000 is tax-exempt for salaried individuals.

Q2: How often should I pay income tax?
A: Salaried individuals typically have tax deducted at source monthly by their employer.

Q3: Are there any additional taxes?
A: There may be additional taxes like super tax for high-income individuals and companies.

Q4: What about investment tax credits?
A: Certain investments may qualify for tax credits, reducing your overall tax liability.

Q5: When is the tax return due?
A: For individuals, the deadline is typically December 31 following the tax year.