Income Tax Essay

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Pakistan Income Tax Tax rates for the salaried class in Pakistan are 0.5% to 20%, and for other taxpayers, 0.5% to 25%. Basis – Income tax is payable by salaried male individuals if taxable income exceeds PKR 200,000 and by female individuals if taxable income exceeds PKR 260,000. Income tax is payable by non-salaried individuals if taxable income exceeds PKR 100,000. These thresholds are effective from 1 July 2009. The limit not chargeable to tax for Tax Year 2010 is: Rs. 200,000. The limit not chargeable to tax for salaried women is: Rs. 260,000. Pakistan Income Tax Slabs / Personal Income Tax Rates for 2010: Slab No. Taxable income Tax Rate 1. Where taxable income is below Rs. 200,000 0% 2. Where the taxable income is between Rs. 200,000 - Rs. 250,000 0.50% 3. Where the taxable income is between Rs. 250,000 - Rs. 350,000 0.75% 4. Where the taxable income is between Rs. 350,000 - Rs. 400,000 1.50% 5. Where the taxable income is between Rs. 400,000 - Rs. 450,000 2.50% 6. Where the taxable income is between Rs. 450,000 - Rs. 550,000 3.50% 7. Where the taxable income is between Rs. 550,000 - Rs. 650,000 4.50% 8. Where the taxable income is between Rs. 650,000 - Rs. 750,000 6.00% 9. Where the taxable income is between Rs. 750,000 - Rs. 900,000 7.50% 10. Where the taxable income is between Rs. 900,000 - Rs. 1,050,000 9.00% 11. Where the taxable income is between Rs. 1,050,000 - Rs. 1,200,000 10.00% 12. Where the taxable income is between Rs. 1,200,000 - Rs. 1,450,000 11.00% 13. Where the taxable income is between Rs. 1,450,000 - Rs. 1,700,000 12.50% 14. Where the taxable income is between Rs. 1,700,000 -

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