WATCH: What will be the impact of revised income tax rates?
Government has raised the income tax threshold from Rs600,000 to Rs1.2 million
June 11, 2022
In its first federal budget, for fiscal year 2022-23, the new coalition government has revised tax rates and slabs for the salaried income group.
Finance Minister Miftah Ismail announced the government has raised the income tax threshold from Rs600,000 to Rs1.2 million.
This proposal means people earning up to Rs100,000 a month won't pay income tax.
Geo.tv talked to Salman Haq, Partner International Tax and Transaction Services (ITTS) to understand the impact on low and higher salaried class.
Haq also talked about the impact of withdrawal of exemptions for investment in mutual funds, insurance and investments.
