Income Tax on Salary Income 2024: The government of Pakistan proposed income tax 2024-2025 in the budget 2024-2025. Ishaq Dar presented a budget briefing. The budget for the fiscal year 2024 was mixed for the white-collar income group as the government lowered tax rates and the number of plates but removed the available provision of credit by eliminating the deductible profit-on-debt deduction and the investment tax credit in shares, health insurance companies, and pension funds.
Comparison of Income Tax on Salary Income Tax Year 2024-2025
The new coalition government made changes to the income tax collection table in its first federal budget for 2024-25.
The table below details the tax rates applicable to revised income plates in Pakistan.
Income Tax Slabs 2024-2025