Major relief for salaried class in income tax

Islamabad: In yet another relief for the salaried class, the National Assembly’s Standing Committee on Finance has approved the recommendation to reduce the income tax.

The meeting of the committee held under the chairmanship of Syed Naveed Qamar reviewed the clause-wise income tax proposal.  The committee approved the proposal to amend the income tax for the salaried class.

Resultantly, the committee has lowered the tax on annual income from 2.5 percent to 1 percent, i.e., Rs0.6 million to Rs1.2 million.

It is pertinent to note that the government had reduced the income tax percentage for the fiscal year 2025-26. Earlier, the annual income tax was recommended at 2.5 percent for the salary of Rs0.6 million to Rs1.2 million, which was 5 percent in the previous fiscal year.