The income tax exemptions announced last year, which had generously excluded everyone with a salary of less than Rs100,000 a month (Rs1.2 million a year) from paying income taxes, have been scrapped.
The PTI government has proposed reinstating taxes on everyone making a salary of more than Rs50,000 a month (Rs600,000 a year). The government has also introduced 11 tax slabs with a progressive taxation rate ranging from 5pc to 35pc of income.
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