Income Tax Slab Changes for FY 2024

# Income Tax Slab Changes for FY 2024

The Finance Ministry has announced revised income tax slabs for the fiscal year 2024, bringing significant changes for individual taxpayers and salaried persons in Pakistan.

## New Tax Slabs for Salaried Individuals

| Annual Income (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 | 15,000 + 12.5% of amount exceeding 1,200,000 |
| 2,400,001 - 3,600,000 | 165,000 + 22.5% of amount exceeding 2,400,000 |
| 3,600,001 - 6,000,000 | 435,000 + 27.5% of amount exceeding 3,600,000 |
| Above 6,000,000 | 1,095,000 + 35% of amount exceeding 6,000,000 |

## Key Dates

- **Effective from**: July 1, 2024
- **First affected salary**: July 2024 payroll
- **Annual return deadline**: September 30, 2025

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