Changing tax slabs, four million exemption for all

Two thousand financial year 12 - 13 in the budget where the Pakistan Government to income tax to at least three and a half million increased from four million announced to income tax there to determine the number of slab there for at least five to 18. Income tax exemption in the past only to those people who had the annual income from the extent and more income to the people to their total income tax on average. However, two thousand 12 13 According to the Finance Bill now tax all this facility will be able to take advantage.Slab in the changes in the first slab such people who will come to the annual income for four million thirty-three thousand rupees per month. These people will have to pay any income tax.In other slab, such people who have been included the income from four and a half million to 7 million rupees annually. More than 4 million on the amount of 10% tax rate.For example, a person of thirty five thousand rupees monthly income or annual four hundred thousand to 20 thousand rupees is now 2.5 percent rate of tax was playing the annual ten and a half thousand rupees prepaired around. However, under new laws to be out of four hundred thousand and 20 thousand rupees is 10 percent rate of two thousand rupees, which means that it will give annual tax about 8 thousand rupees.The third slab 7:7.1 million to 15 million of the people who are now is about thirty five thousand Rupees in addition to the tax fixed agenda of 7 million and a half than on income tax rate of 15 percent.In fourth slab 15 lakh 25 thousand rupees annual income to the people. Under the new laws 100,000 people Forty-seven thousand five hundred rupees annually fixed agenda will tax while more than 15 million from them on income tax rate of 20 percent.Income Tax the fifth and last slab more than 25 lakh rupees annually on income are covered under this, three hundred and Forty-seven thousand five hundred rupees 25 million fixed agenda of tax on more than 25 percent income tax.