The federal government has presented a budget of 144 trillion 60 billion rupees for the upcoming financial year 2023-24. Additional taxes of Rs 223 billion have been imposed in the budget, the bulk of revenue collection will be achieved through income tax.
In the budget, the salaries and pensions of government employees have been increased and the minimum wage has been proposed to be Rs 32,000.
This time too, the government did not burden the salaried class with an increase in income tax.
The government has retained the income tax slabs of the previous financial year itself.
To know how much income tax will be deducted from salary after budgeting, you can instantly know your outstanding salary by entering your monthly salary on our Income Tax Calculator.
The process of deducting income tax from the monthly salary will start from 51000 rupees, on which 25 rupees will be deducted.
Employees whose salary is 60 thousand rupees will now get 59750 rupees after deduction of tax, while 500 rupees will be deducted on salary of 70 thousand rupees.
750 will be deducted on a monthly salary of 80 thousand, 1 thousand on a salary of 90 thousand and 1250 on a salary of 1 lakh.
setTimeout(function(){
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window,document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘836181349842357’);
fbq(‘track’, ‘PageView’);
}, 6000);
/*setTimeout(function(){
(function (d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s);
js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.11&appId=580305968816694”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
}, 4000);*/