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.
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/-
I.Tax Calculators for Different Amounts of Monthly and Annual Gross Salary
Income Tax for Exceeding Annual Income up to 12,00,000/-
Monthly Salary
Annual
Taxable Income
Income Tax Amount
Monthly IT
Previous Tax
Difference
50000
600000
0
0
0
0
0
52000
624000
24000
1200
100
50
50
53000
636000
36000
1800
150
75
75
54000
648000
48000
2400
200
100
100
55000
660000
60000
3000
250
125
125
57000
684000
84000
4200
350
175
175
60000
720000
120000
6000
500
250
250
62000
744000
144000
7200
600
300
300
65000
780000
180000
9000
750
375
375
67500
810000
210000
10500
875
438
438
70000
840000
240000
12000
1000
500
500
72500
870000
270000
13500
1125
563
563
75000
900000
300000
15000
1250
625
625
77500
930000
330000
16500
1375
688
688
80000
960000
360000
18000
1500
750
750
82500
990000
390000
19500
1625
813
813
85000
1020000
420000
21000
1750
875
875
87500
1050000
450000
22500
1875
938
938
90000
1080000
480000
24000
2000
1000
1000
92500
1110000
510000
25500
2125
1063
1063
95000
1140000
540000
27000
2250
1125
1125
97500
1170000
570000
28500
2375
1188
1188
100000
1200000
600000
30000
2500
1250
1250
The Income Tax for Exceeding Annual Income up to 22,00,000/-
Monthly Salary
Annual
Taxable Income
Income Tax Amount
Monthly IT
Previous Tax
Difference
100001
1200012
12
30002
2500
1250
1250
105000
1260000
60000
39000
3250
1875
1375
110000
1320000
120000
48000
4000
2500
1500
115000
1380000
180000
57000
4750
3125
1625
120000
1440000
240000
66000
5500
3750
1750
125000
1500000
300000
75000
6250
4375
1875
130000
1560000
360000
84000
7000
5000
2000
135000
1620000
420000
93000
7750
5625
2125
140000
1680000
480000
102000
8500
6250
2250
145000
1740000
540000
111000
9250
6875
2375
150000
1800000
600000
120000
10000
7500
2500
155000
1860000
660000
129000
10750
8125
2625
160000
1920000
720000
138000
11500
8750
2750
165000
1980000
780000
147000
12250
9375
2875
170000
2040000
840000
156000
13000
10000
3000
175000
2100000
900000
165000
13750
10625
3125
180000
2160000
960000
174000
14500
11250
3250
183333
2199996
999996
179999
15000
11667
3333
Income Tax for Exceeding Annual Income up to 32,00,000/-
Monthly Salary
Annual
Taxable Income
Income Tax Amount
Monthly IT
Previous Tax
Difference
183334
2200008
8
180002
15000
11667
3333
185000
2220000
20000
185000
15417
11875
3542
190000
2280000
80000
200000
16667
12500
4167
195000
2340000
140000
215000
17917
13125
4792
200000
2400000
200000
230000
19167
13750
5417
205000
2460000
260000
245000
20417
14875
5542
210000
2520000
320000
260000
21667
16000
5667
215000
2580000
380000
275000
22917
17125
5792
220000
2640000
440000
290000
24167
18250
5917
225000
2700000
500000
305000
25417
19375
6042
230000
2760000
560000
320000
26667
20500
6167
235000
2820000
620000
335000
27917
21625
6292
240000
2880000
680000
350000
29167
22750
6417
245000
2940000
740000
365000
30417
23875
6542
250000
3000000
800000
380000
31667
25000
6667
255000
3060000
860000
395000
32917
26125
6792
260000
3120000
920000
410000
34167
27250
6917
265000
3180000
980000
425000
35417
28375
7042
266500
3198000
998000
429500
35792
28713
7079
The Income Tax for Exceeding Annual Income up to 41,00,000/-
Monthly Salary
Annual
Taxable Income
Income Tax Amount
Monthly IT
Previous Tax
Difference
267000
3204000
4000
431200
35933
28825
7108
270000
3240000
40000
442000
36833
29500
7333
275000
3300000
100000
460000
38333
30625
7708
280000
3360000
160000
478000
39833
31750
8083
285000
3420000
220000
496000
41333
32875
8458
290000
3480000
280000
514000
42833
34000
8833
295000
3540000
340000
532000
44333
35125
9208
300000
3600000
400000
550000
45833
36250
9583
305000
3660000
460000
568000
47333
37625
9708
310000
3720000
520000
586000
48833
39000
9833
315000
3780000
580000
604000
50333
40375
9958
320000
3840000
640000
622000
51833
41750
10083
325000
3900000
700000
640000
53333
43125
10208
330000
3960000
760000
658000
54833
44500
10333
335000
4020000
820000
676000
56333
45875
10458
340000
4080000
880000
694000
57833
47250
10583
341665
4099980
899980
699994
58333
47708
10625
Income Tax for Exceeding Annual Income More than 41,00,000/-
