Download Income Tax Slabs and Tax CalculationsI have prepared the Income Tax Calculations 2024-25 and 2023-24 with the help of old Income Tax Slabs and new expected I. Tax slabs. All these calculations depend on the approval of new tax rates with effect from 1^st July 2024 as per Budget Speech 2024-25. Still, we are calculating on the basis of the budget speech Copy 2024-25 Federal of the Finance Minister. These calculations are not yet final. However, After approval, these will take effect from 1^st July 2024. The Government may make some amendments to it.

Income Tax Calculations 2024-25 and 2023-24 and Income Tax Slabs

There are changes in the income tax slabs during previous years and this year 2024-25. The Tax slabs for the amount till 22,00,000/- annual income are the same with different tax rates and different lump sum amount tax amount. Employees having monthly income Rs. 50001 to Rs. 100,000/- will have to pay double income tax. The maximum amount of tax increased for this category of employees is Rs. 1250/- per month and the minimum increase is Re.1.

               Salaries Persons having annual gross salary from 12,00,001 to 22,00,000/- will have to pay tax with an increase of 1250/- per month (minimum) to 3333/- (maximum). If any employee was paying previously Rs. 11667/- per month then he has to pay now Rs. 15,000/- per month. I have already prepared the Income Tax Calculator 2024-25 for Salaried Persons. You can easily enter your gross amount there and find the tax. However at the request of many employees I have made these calculations on a simple sheet.

Download Income Tax Slabs and Tax Calculations

Income Tax Slabs for Salaried Persons 2024-2025 and 2023-2024

I.Tax Slabs 2024-25

I.Tax Calculators for Different Amounts of Monthly and Annual Gross Salary