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Minimum taxable income revised.

Islamabad -- The minimum taxable income was reviewed and set at Rs0.6 million and Rs0.4 million per annum for the salaried and non-salaried folks, respectively, State Minister for Revenue Hammad Azhar announced while presenting the Federal Budget 2019-20.

In this regard, 11 taxable slabs at progressive tax rates from 5 percent to 35 percent were introduced in federal budget 2019-20 for salaried people with income of more than Rs0.6 million per annum.

Further, eight taxable slabs at tax rates from 5 percent to 35 percent were introduced in Federal Budget 2019-20 for non-salaried people with income of more than Rs0.4 million per annum.

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Publication:Pakistan Observer (Islamabad, Pakistan)
Date:Jun 12, 2019
Words:136
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