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2019-2020. TAX YEAR 2020


TAX RATES FOR AOP & BUSINESS INDIVIDUALS
1.Upto Rs.400,0000%
2.Rs.400,001 to Rs.600,0005% of the amount exceeding Rs.400,000
3.Rs.600,001 to Rs.1,200,000Rs.10.000 + 10% of the amount exceeding
Rs.600.000
4.Rs.1,200,001 to Rs.2,400,000Rs.70,000 + 15% of the amount exceeding
Rs.1,200,000
5.Rs.2,400,001 to Rs.3.000,000Rs.250,000 + 20% of the amount exceeding
Rs.2.400,000
6.Rs.3,000,001 to Rs.4.000,000Rs.370,000 + 25% of the amount exceeding
Rs.3,000,000
7.Rs.4,000,000 to Rs.6,000,000Rs.620,000 + 30% of the amount exceeding
Rs.4.000,000
8.Exceeding Rs.6,000,000Rs. 1,200,000 + 35% of the amount exceeding
Rs.6,000,000

TAX RATES FOR SALARIED INDIVIDUALS
1.Upto Rs.600,0000%
2.Rs.600,001 to Rs.1,200,0005% of the amount exceeding Rs.600,000
3.Rs.1,200,001 to Rs.1.800,000Rs.30,000 + 10% of the amount exceeding
Rs.1,200,000
4.Rs.1,800,001 to Rs.2,500,000Rs.90,000 + 15% of the amount exceeding
Rs.1,800,000
5.Rs.2,500,001 to Rs.3.500,000Rs.195,000 + 17.5% of the amount exceeding
Rs.2.500,000
6.Rs.3,500.001 to Rs.5,000,000Rs.370,000 + 20% of the amount exceeding
Rs.3.500,000
7.Rs.5,000,001 to Rs.8,000,000Rs.670,000 + 22.5% of the amount exceeding
Rs.5,000,000
8.Rs.8,000,001 to Rs.12,000,000Rs.1,345,000 + 25% of the amount exceeding
Rs.8,000,000
9.Rs.12,000,001 to Rs.30,000,000Rs.2,345,000 + 27,5% of the amount exceeding
Rs.12,000,000
10.Rs.30,000,001 to Rs.50,000,000Rs.7,295,000 + 30% of the amount exceeding
Rs.30,000,000
11.Rs.50,000,001 to Rs.75,000,000Rs.13,295,000 + 32.5% of the amount exceeding
Rs.50,000,000
12.Exceeding Rs.75,000,000Rs.21,420,000 + 35% of the amount exceeding
Rs.75,000,000

Note: 25% Reduction in Tax for full time Teacher except practicing doctors.
Note: Salary rate applicable where salary income exceeds 75% of total taxable income.


TAX RATES OF COMPANIES

Banking Company35%
Small Company23%
Public & Private Company29%
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