Finance Minister Muhammad Aurangzeb presented the federal budget for the financial year 2024-25, the federal government increased the tax for individuals earning more than Rs.100,000/- per month.

The 2024-25 fiscal year has introduced several amendments to the tax laws, aimed at enhancing compliance and increasing revenue. Key changes include adjustments in income tax rates.These changes impact taxpayers differently, depending on their income levels and types of deductions they can claim. It is essential to understand these amendments to effectively plan and manage your tax liabilities.

Salary Tax Slabs for the Financial Year 2024-25

Section 149 - Where salary income exceeds 75% of the taxable income

Salary	Tax Slab 2024-25
Up to Rs.600,000/-	0%
600,001-1,200,000	5% of the amount above Rs.600,000/-
1,200,001 - 2,200,000	30,000+15% of the amount above Rs.1,200,000/-
2,200,001 - 3,200,000	180,000+25% of the amount above Rs.2,200,000/-
3,200,001 - 4,100,000	430,000+30% of the amount above Rs.3,200,000/-
Amount Above 4,100,000	700,000+35% of the amount above Rs.4,100,000/-

The tax slabs for the financial year 2024-25 for salaries are structured as follows:

1. For a salary up to Rs. 600,000, there is no tax.
2. For a salary between Rs. 600,001 and Rs. 1,200,000, the tax is 5% of the amount above Rs. 600,000.
3. For a salary between Rs. 1,200,001 and Rs. 2,200,000, the tax is Rs. 30,000 plus 15% of the amount above Rs. 1,200,000.
4. For a salary between Rs. 2,200,001 and Rs. 3,200,000, the tax is Rs. 180,000 plus 25% of the amount above Rs. 2,200,000.
5. For a salary between Rs. 3,200,001 and Rs. 4,100,000, the tax is Rs. 430,000 plus 30% of the amount above Rs. 3,200,000.
6. For a salary above Rs. 4,100,000, the tax is Rs. 700,000 plus 35% of the amount above Rs. 4,100,000.

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