Income Tax Rates for Tax Year 2024

FOR THE TAX YEAR – 2024
Tax Rates for Non-Salaried Individual / AOPs
[Division I, Part I of the First Schedule]
Upto Rs. 600,000 0%
Rs. 600,000 to Rs. 800,000 7.50%
Rs. 800,000 to Rs. 1,200,000 Rs. 15,000 + 15%
Rs. 1,200,000 to Rs. 2,400,000 Rs. 75,000 + 20%
Rs. 2,400,000 to Rs. 3,000,000 Rs. 315,000 + 25%
Rs. 3,000,000 to Rs. 4,000,000 Rs. 465,000 + 30%
Rs. 400,000 and above Rs. 765,000 + 35%
Tax Rates for Salaried Persons
[Division I, Part I of the First Schedule]
Upto Rs. 600,000 0%
Rs. 600,000 to Rs. 1,200,000 2.50%
Rs. 1,200,000 to Rs. 2,400,000 Rs. 15,000 + 12.5%
Rs. 2,400,000 to Rs. 3,600,000 Rs. 165,000 + 22.5%
Rs. 3,600,000 to Rs. 6,000,000 Rs. 435,000 + 27.5%
Rs. 6,000,000 and above Rs. 1,095,000 + 35%

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