These are the New Income Tax Slab Rates For Salaried Class for Financial year 2012-13 as approved by Pakistan Finance Act, 2012.
Tax will be paid at the rate of Gross Salary minus minimum of applicable slab Multiplied by Rate PLUS the Additional Tax. Say your salary is 800,000/- annually, tax will be (800,000 -750,000)*10% +17,500 =22,500 Annually.
Tax credits/ Exemptions for Medical, Construction of new house, Shares Investments, telephone and Electricity Bill and so forth may also be gained as per relevant sections
| Where the taxable Income Exceed | To | but does not exceed rupees | Rate Of Tax | Additional tax |
| 0 | 400000 | 0.00% | ||
| 400000 | to | 750000 | 5.00% | |
| 750000 | to | 1500000 | 10.00% | 17500 |
| 1500000 | to | 2000000 | 15.00% | 95000 |
| 2000000 | to | 2500000 | 17.50% | 175000 |
| 2500000 | 10000000000 | 20.00% | 420000 |
Finance bill 2012-13 is silent on Marginal Relief benefit. Kindly clarify MR benefit is still applicable or Not? If available, what are the marginal relief income brackets. The previous marginal relief brackets does not align with the current income brackets
MR is no more longer applicable. They new rates are slab based with No MR,
We want to marginal Tax Slabs for the year 2012 to 2013.
Refer to above comments. THe slab rates are provided above.
thanks sir for providing valuable information
On last two Slabs, Marginal Relief could impact, Please check empirically. When law is silent why shouldn’t we gain