Expected Income Tax slabs 2024-2025 and Difference of old and New Tax (Employees)

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Download Income Tax Slabs and Tax Calculation I have prepared the Income Tax calculations 2024-2025 and 2023-2024 with the help of old income tax slabs and new expected. Tax slabs All these calcultions depends on the approvel of new tax rate with effects from 1st july 2024 as per budget speech 2024-2025 still we are calcultiing on the basis of the budget speech copy 2024-2025 federal of the Finance minister.

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1 I.Tax Slabs 2024-25
2 I.Tax Calculators for Different Amounts of Monthly and Annual Gross Salary

Income Tax Calculations 2024-25 and 2023-24 and Income Tax Slabs

There are changes in the income tax slabs during previous years and this year 2024-25. The Tax slabs for the amount till 22,00,000/- annual income are the same with different tax rates and different lump sum amount tax amount. Employees having monthly income Rs. 50001 to Rs. 100,000/- will have to pay double income tax. The maximum amount of tax increased for this category of employees is Rs. 1250/- per month and the minimum increase is Re.1.

 Salaries Persons having annual gross salary from 12,00,001 to 22,00,000/- will have to pay tax with an increase of 1250/- per month (minimum) to 3333/- (maximum). If any employee was paying previously Rs. 11667/- per month then he has to pay now Rs. 15,000/- per month. I have already prepared the Income Tax Calculator 2024-25 for Salaried Persons. You can easily enter your gross amount there and find the tax. However at the request of many employees I have made these calculations on a simple sheet.

I.Tax Slabs 2024-25

Expected Tax Slabs 2024-2025
Taxable Annual  Income does not exceed Rs. 600,000/-0%
Taxable Annual Income exceeds Rs. 600,000/- but not more than 12,00,000/-5% of the amount exceeding Rs. 600,000/-
The Taxable Annual Income exceeds Rs. 12,00,000/- but does not more than 22,00,000/-Rs. 30,000 + 15% of the amount exceeding Rs. 12,00,000/-
Taxable Annual Income exceeds Rs. 22,00,000/- but does not more than 32,00,000/-Rupees  180,000 + 25% of amount exceeding 22,00,000/-
The Taxable Annual Income exceeds. 32,00,000/- but not more than Rs. 41,00,000/-Rs. 430,000 +30% of the exceeding amount Rs. 32,00,000/-
Taxable Annual Income exceeds Rs. 41,00,000/-Rs. 700,000 + 35% of the exceeding Amount of Rs. 41,00,000/-
Income Tax Slabs 2023-24 for Salaried Persons Employees

I.Tax Calculators for Different Amounts of Monthly and Annual Gross Salary

Income Tax for Exceeding Annual Income up to 12,00,000/-
Monthly SalaryAnnual Taxable Income Income Tax Amount Monthly ITPrevious TaxDifference
5000060000000000
520006240002400012001005050
530006360003600018001507575
54000648000480002400200100100
55000660000600003000250125125
57000684000840004200350175175
600007200001200006000500250250
620007440001440007200600300300
650007800001800009000750375375
6750081000021000010500875438438
70000840000240000120001000500500
72500870000270000135001125563563
75000900000300000150001250625625
77500930000330000165001375688688
80000960000360000180001500750750
82500990000390000195001625813813
850001020000420000210001750875875
875001050000450000225001875938938
90000108000048000024000200010001000
92500111000051000025500212510631063
95000114000054000027000225011251125
97500117000057000028500237511881188
100000120000060000030000250012501250
The Income Tax for Exceeding Annual Income up to  22,00,000/-
Monthly SalaryAnnual Taxable Income Income Tax Amount Monthly ITPrevious TaxDifference
10000112000121230002250012501250
10500012600006000039000325018751375
110000132000012000048000400025001500
115000138000018000057000475031251625
120000144000024000066000550037501750
125000150000030000075000625043751875
130000156000036000084000700050002000
135000162000042000093000775056252125
1400001680000480000102000850062502250
1450001740000540000111000925068752375
15000018000006000001200001000075002500
15500018600006600001290001075081252625
16000019200007200001380001150087502750
16500019800007800001470001225093752875
170000204000084000015600013000100003000
175000210000090000016500013750106253125
180000216000096000017400014500112503250
183333219999699999617999915000116673333
Income Tax for Exceeding Annual Income up to 32,00,000/-
Monthly SalaryAnnual Taxable Income Income Tax Amount Monthly ITPrevious TaxDifference
1833342200008818000215000116673333
18500022200002000018500015417118753542
19000022800008000020000016667125004167
195000234000014000021500017917131254792
200000240000020000023000019167137505417
205000246000026000024500020417148755542
210000252000032000026000021667160005667
215000258000038000027500022917171255792
220000264000044000029000024167182505917
225000270000050000030500025417193756042
230000276000056000032000026667205006167
235000282000062000033500027917216256292
240000288000068000035000029167227506417
245000294000074000036500030417238756542
250000300000080000038000031667250006667
255000306000086000039500032917261256792
260000312000092000041000034167272506917
265000318000098000042500035417283757042
266500319800099800042950035792287137079
The Income Tax for Exceeding Annual Income up to 41,00,000/-
Monthly SalaryAnnual Taxable Income Income Tax Amount Monthly ITPrevious TaxDifference
2670003204000400043120035933288257108
27000032400004000044200036833295007333
275000330000010000046000038333306257708
280000336000016000047800039833317508083
285000342000022000049600041333328758458
290000348000028000051400042833340008833
295000354000034000053200044333351259208
300000360000040000055000045833362509583
305000366000046000056800047333376259708
310000372000052000058600048833390009833
315000378000058000060400050333403759958
3200003840000640000622000518334175010083
3250003900000700000640000533334312510208
3300003960000760000658000548334450010333
3350004020000820000676000563334587510458
3400004080000880000694000578334725010583
3416654099980899980699994583334770810625
Income Tax for Exceeding Annual Income More than 41,00,000/-
Monthly SalaryAnnual Taxable Income Income Tax Amount Monthly ITPrevious TaxDifference
34200041040004000701400584504780010650
345000414000040000714000595004862510875
3500004200000100000735000612505000011250
3550004260000160000756000630005137511625
3600004320000220000777000647505275012000
3650004380000280000798000665005412512375
3700004440000340000819000682505550012750
3750004500000400000840000700005687513125
3800004560000460000861000717505825013500
3850004620000520000882000735005962513875
3900004680000580000903000752506100014250
3950004740000640000924000770006237514625
4000004800000700000945000787506375015000
4050004860000760000966000805006512515375
4100004920000820000987000822506650015750
41500049800008800001008000840006787516125
42000050400009400001029000857506925016500
450000540000013000001155000962507750018750
460000552000014200001197000997508025019500
4650005580000148000012180001015008162519875
4700005640000154000012390001032508300020250
5000006000000190000013650001137509125022500
6000007200000310000017850001487509125057500
70000084000004300000220500018375012625057500
80000096000005500000262500021875016125057500
All Credit Gose To GLX SPACE

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