Finance Act 2023Historical
FBR Salary Tax Slabs 2023-24 for Salaried Individuals
Income tax rates applied to salaried individuals in Pakistan for Tax Year 2023-24, covering the period 1 July 2023 to 30 June 2024, as enacted by the Finance Act 2023 in Division I, Part I of the First Schedule to the Income Tax Ordinance 2001.
Calculate your 2023-24 taxTax slab rates for Tax Year 2023-24
Rates above Rs 2.4 million were raised while the lower brackets were left untouched, pulling the 35% top rate down to Rs 6,000,000 of taxable income.
Tax Year 2023-24
Finance Act 2023 · 6 slabs · no surcharge
| Annual taxable income | Rate | Tax payable |
|---|---|---|
| Up to PKR 600,000 | 0% | Nil |
| PKR 600,000 to PKR 1,200,000 | 2.5% | 2.5% of the amount exceeding PKR 600,000 |
| PKR 1,200,000 to PKR 2,400,000 | 12.5% | PKR 15,000 + 12.5% of the amount exceeding PKR 1,200,000 |
| PKR 2,400,000 to PKR 3,600,000 | 22.5% | PKR 165,000 + 22.5% of the amount exceeding PKR 2,400,000 |
| PKR 3,600,000 to PKR 6,000,000 | 27.5% | PKR 435,000 + 27.5% of the amount exceeding PKR 3,600,000 |
| Above PKR 6,000,000 | 35% | PKR 1,095,000 + 35% of the amount exceeding PKR 6,000,000 |
Key thresholds
- Exempt threshold: annual taxable income up to PKR 600,000 (PKR 50,000 a month) was taxed at zero per cent.
- Number of slabs: 6.
- Top marginal rate: 35%, applying above PKR 6,000,000 of taxable income.
- Section 4AB surcharge: none applied in this tax year.
Monthly salary tax table for 2023-24
Tax payable at common salary levels, with no exemptions or rebates claimed. Figures include the section 4AB surcharge where it applied.
| Monthly salary | Annual salary | Monthly tax | Annual tax | Net monthly | Effective rate |
|---|---|---|---|---|---|
| PKR 50,000 | PKR 600,000 | PKR 0 | PKR 0 | PKR 50,000 | 0.0% |
| PKR 100,000 | PKR 1,200,000 | PKR 1,250 | PKR 15,000 | PKR 98,750 | 1.3% |
| PKR 150,000 | PKR 1,800,000 | PKR 7,500 | PKR 90,000 | PKR 142,500 | 5.0% |
| PKR 200,000 | PKR 2,400,000 | PKR 13,750 | PKR 165,000 | PKR 186,250 | 6.9% |
| PKR 300,000 | PKR 3,600,000 | PKR 36,250 | PKR 435,000 | PKR 263,750 | 12.1% |
| PKR 500,000 | PKR 6,000,000 | PKR 91,250 | PKR 1,095,000 | PKR 408,750 | 18.3% |
| PKR 1,000,000 | PKR 12,000,000 | PKR 266,250 | PKR 3,195,000 | PKR 733,750 | 26.6% |
How 2023-24 compares with the current 2026-27 rates
The table below shows what the same salary costs under Tax Year 2023-24 against the rates in force today, so you can see the direction and size of the change.
| Monthly salary | Tax in 2023-24 | Tax in 2026-27 | Change |
|---|---|---|---|
| PKR 50,000 | PKR 0 | PKR 0 | No change |
| PKR 100,000 | PKR 15,000 | PKR 6,000 | −PKR 9,000 |
| PKR 150,000 | PKR 90,000 | PKR 72,000 | −PKR 18,000 |
| PKR 200,000 | PKR 165,000 | PKR 156,000 | −PKR 9,000 |
| PKR 300,000 | PKR 435,000 | PKR 416,000 | −PKR 19,000 |
| PKR 500,000 | PKR 1,095,000 | PKR 1,104,000 | +PKR 9,000 |
| PKR 1,000,000 | PKR 3,195,000 | PKR 3,174,000 | −PKR 21,000 |