Karachi Matters Editor
Salaried individuals are troubled by the new income tax rates following the latest budget. Despite salary increases, the new tax deduction rates have resulted in reduced take-home pay.
According to Geo News, an officer of Grade 20 reported that while his monthly salary increased by 43,240 rupees, the new income tax deduction rates caused his net salary to decrease by 272 rupees.
The officer explained that before the 20% increase, his gross salary was 526,279 rupees, which increased to 569,519 rupees. Previously, his monthly income tax deduction was 77,000 rupees, but under the new rates, the deduction has risen to 120,512 rupees, leading to a decrease of 272 rupees in his net salary compared to the previous amount.
