{"id":99037,"date":"2024-09-06T11:58:09","date_gmt":"2024-09-06T06:58:09","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=99037"},"modified":"2024-09-06T11:58:11","modified_gmt":"2024-09-06T06:58:11","slug":"fbr-revises-income-tax-rates-issues-new-cards","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html","title":{"rendered":"FBR revises income tax rates, issues new cards, announces exemptions"},"content":{"rendered":"\n

Islamabad: The Federal Board of Revenue (FBR) has unveiled a new tax card for the fiscal year 2024-25, designed to offer significant relief to the salaried class, especially those in lower income brackets, as reported on September 6.<\/p>\n\n\n\n

Read<\/strong>: FBR, retailers yet to agree on tax collection strategy<\/a><\/p>\n\n\n\n

As per details, under the updated tax regime, individuals earning up to PKR 600,000 annually will be fully exempt from income tax. However, for those exceeding this threshold, revised tax rates will apply.<\/p>\n\n\n\n

For incomes between PKR 600,000 and PKR 1.2 million, a 5% tax will be imposed. For a salary of PKR 1 million, PKR 20,000 will be taxed on the PKR 400,000 exceeding the exempt amount.<\/p>\n\n\n\n

For earnings ranging from PKR 1.2 million to PKR 2.2 million, the tax will consist of a fixed PKR 30,000, plus an additional 15% on income above PKR 1.2 million. Salaries between PKR 2.2 million and PKR 3.2 million will incur a fixed tax of PKR 180,000, with an added 25% on income exceeding PKR 2.2 million.<\/p>\n\n\n\n

For those earning between PKR 3.2 million and PKR 4.1 million, a fixed tax of PKR 430,000 will be applied, along with 30% on any income above that amount. Incomes over PKR 4.1 million will be subject to a fixed tax of PKR 700,000, plus an additional 35% on earnings above the threshold.<\/p>\n\n\n\n

Read: <\/strong>FBR to undergo digital revamp, new Task Force formed<\/a><\/p>\n\n\n\n

The FBR has directed employers to deduct the relevant taxes from employees’ salaries, ensuring a smooth and efficient tax collection process. This new structure is part of a broader effort to ease the tax burden on low-income individuals while maintaining an equitable system for higher earners.<\/p>\n\n\n\n

The initiative reflects the government’s commitment to providing financial relief to the salaried class and promoting a fairer taxation framework.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: The Federal Board of Revenue (FBR) has unveiled a new tax card for the fiscal year 2024-25, designed to offer significant relief to the salaried class, especially those in lower income brackets, as reported on September 6. Read: FBR, retailers yet to agree on tax collection strategy As per details, under the updated tax regime, individuals earning up to PKR 600,000 annually will be fully exempt from income tax. However, for those exceeding this threshold, revised tax rates will apply. For incomes between PKR 600,000 and PKR 1.2 million, a 5% tax will be imposed. For a salary of PKR 1 million, PKR 20,000 will be taxed on the PKR 400,000 exceeding the exempt amount. For earnings ranging from PKR 1.2 million to PKR 2.2 million, the tax will consist of a fixed PKR 30,000, plus an additional 15% on income above PKR 1.2 million. Salaries between PKR 2.2 million and PKR 3.2 million will incur a fixed tax of PKR 180,000, with an added 25% on income exceeding PKR 2.2 million. For those earning between PKR 3.2 million and PKR 4.1 million, a fixed tax of PKR 430,000 will be applied, along with 30% on any income above…<\/p>\n","protected":false},"author":89,"featured_media":98239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[3362,3193,59295,59296,59297,58639],"persona":[],"class_list":{"0":"post-99037","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-fbr","9":"tag-federal-board-of-revenue","10":"tag-fiscal-year-2024-25","11":"tag-tax-cards","12":"tag-tax-for-salaried-class","13":"tag-zameen-new","14":"cat-15015-id"},"acf":[],"yoast_head":"\nFBR Revises Income Tax Rates, Issues New Cards- Zameen News<\/title>\n<meta name=\"description\" content=\"FBR introduces a new tax card for 2024-25, exempting incomes up to PKR 600,000 from tax, while revising rates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR Revises Income Tax Rates, Issues New Cards- Zameen News\" \/>\n<meta property=\"og:description\" content=\"FBR introduces a new tax card for 2024-25, exempting incomes up to PKR 600,000 from tax, while revising rates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News & Pakistan Property News & Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-06T06:58:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-06T06:58:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/08\/FBR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sabahat Abid\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sabahat Abid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FBR Revises Income Tax Rates, Issues New Cards- Zameen News","description":"FBR introduces a new tax card for 2024-25, exempting incomes up to PKR 600,000 from tax, while revising rates.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html","og_locale":"en_US","og_type":"article","og_title":"FBR Revises Income Tax Rates, Issues New Cards- Zameen News","og_description":"FBR introduces a new tax card for 2024-25, exempting incomes up to PKR 600,000 from tax, while revising rates.","og_url":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html","og_site_name":"Pakistan Real Estate News & Pakistan Property News & Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2024-09-06T06:58:09+00:00","article_modified_time":"2024-09-06T06:58:11+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/08\/FBR.jpg","type":"image\/jpeg"}],"author":"Sabahat Abid","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Sabahat Abid","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html"},"author":{"name":"Sabahat Abid","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/9db33618e4b5dfe90a74f6cd07923d16"},"headline":"FBR revises income tax rates, issues new cards, announces exemptions","datePublished":"2024-09-06T06:58:09+00:00","dateModified":"2024-09-06T06:58:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html"},"wordCount":288,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/08\/FBR.jpg","keywords":["FBR","Federal Board of Revenue","fiscal year 2024-25","tax cards","tax for salaried class","zameen new"],"articleSection":["Legal & Taxation"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html","url":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html","name":"FBR Revises Income Tax Rates, Issues New Cards- Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/08\/FBR.jpg","datePublished":"2024-09-06T06:58:09+00:00","dateModified":"2024-09-06T06:58:11+00:00","description":"FBR introduces a new tax card for 2024-25, exempting incomes up to PKR 600,000 from tax, while revising rates.","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/08\/FBR.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2024\/08\/FBR.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/fbr-revises-income-tax-rates-issues-new-cards.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"FBR revises income tax rates, issues new cards, announces exemptions"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News & Pakistan Property News & Latest Updates - Zameen News","description":"","publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zameen.com\/news\/#organization","name":"Zameen.com","alternateName":"Zameen","url":"https:\/\/www.zameen.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","width":600,"height":300,"caption":"Zameen.com"},"image":{"@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ZameenPK","https:\/\/x.com\/ZameenProperty","https:\/\/www.instagram.com\/zameenpk\/"]},{"@type":"Person","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/9db33618e4b5dfe90a74f6cd07923d16","name":"Sabahat Abid","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/Avatar-Icon-96x96.jpg","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/Avatar-Icon-96x96.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/01\/Avatar-Icon-96x96.jpg","caption":"Sabahat Abid"},"description":"Sabahat Abid is a content creator at Zameen Media, illuminating the real estate landscape with her engaging writing.","url":"https:\/\/www.zameen.com\/news\/author\/sabahat-abid"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/99037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/users\/89"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=99037"}],"version-history":[{"count":1,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/99037\/revisions"}],"predecessor-version":[{"id":99038,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/99037\/revisions\/99038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/98239"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=99037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=99037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=99037"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=99037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}