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The income tax slabs for 2020-21 are therefore as follows:

Income tax slabs for non-salaried persons
For non-salaried persons deriving income exceeding Rs400,000, eight taxable slabs of income with tax rates ranging from 5% to 35% are being introduced in the following manner:

Serial NoTaxable Income
1Where taxable income does not exceed Rs400,000, individuals will pay no tax.
2For income above Rs400,000 but not exceeding Rs600,000, individuals will pay 5% of the amount exceeding Rs400,000.
3For income above Rs600,000 but not exceeding Rs1,200,000, individuals will pay Rs10,000 plus 10% of the amount exceeding Rs600,000.
4Where the taxable income exceeds Rs. 1,200,000 but does not Rs. 2,400,000
5For income above Rs1,200,000 but not exceeding Rs2,400,000, individuals will pay Rs70,000 plus 15% of the amount exceeding Rs1,200,000.
6For income above Rs2,400,000 but not exceeding Rs3,000,000, individuals will pay Rs250,000 plus 20% of amount exceeding 2,400,000.
7For income above Rs3,000,000 but not exceeding Rs4,000,000, individuals will pay Rs370,000 plus 25% of the amount exceeding Rs3,000,000.
8For income above Rs4,000,000 but not exceeding Rs6,000,000, individuals will pay Rs620,000 plus 30% of the amount exceeding Rs4,000,000
9For income above Rs6,000,000, but not exceeding Rs1,220,000 plus 35% of the amount exceeding Rs6,000,000.

The last date for filing income tax returns for 2020 is December 8, 2020, according to a notification issued by FBR.

Tax Slabs for Unsalaried Income

The rates of tax imposed on the income of every individual and association of persons, except a salaried individual, are as follows:

Serial NoTaxable IncomeRate of Tax
1Where the taxable income does not exceed Rs. 400,0000%
2Where the taxable income exceeds Rs. 400,000 but does not exceed Rs. 600,0005% of the amount exceeding Rs. 400,000
3Where the taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000Rs. 10,000 plus 10% of the amount exceeding Rs. 600,000
4Where the taxable income exceeds Rs. 1,200,000 but does not Rs. 2,400,000Rs. 70,000 plus 15% of the amount exceeding Rs. 1,200,000
5Where taxable income exceeds Rs. 2,400,000 but does not exceed Rs. 3,000,000Rs. 250,000 plus 20% of the amount exceeding Rs. 2,400,000
6Where taxable income exceeds Rs. 3,000,000 but does not exceed Rs. 4,000,000Rs. 370,000 plus 25% of the amount exceeding Rs. 3,000,000
7Where the taxable income exceeds Rs. 4,000,000 but does not exceed Rs. 6,000,000Rs. 620,000 plus 30% of the amount exceeding Rs. 4,000,000
8Where the taxable income exceeds Rs. 6,000,000Rs. 1,220,000 plus 35% of the amount exceeding Rs. 6,000,000