Updated Income Tax Ordinance and Tax Rates 2014-15
 

Please upload latest incom tax rates for current year. Also if anyone one has Income Tax Ordinance updated with Finance Act 2014, please do upload. Thanks

tax rate 2014-15
 

As per the Finance Act passed by Government of Pakistan, following slabs and income tax rates shall be applicable for salaried persons and salaried class for the year 2014-2015:

Where the taxable salary income does not exceed Rs 400,000, the rate of income tax is 0%;
Where the taxable income exceeds Rs 400,000 but does not exceed Rs 750,000, the rate of income tax is 5% of the amount exceeding Rs 400,000.
Where the taxable income exceeds Rs 750,000 but does not exceed Rs 1,400,000,the rate of income tax is Rs 17,500 + 10% of the amount exceeding Rs 750,000.
Where the taxable income exceeds Rs 1,400,000 but does not exceed Rs 1,500,000, the rate of income tax is Rs 82,500 + 12.5% of the amount exceeding Rs 1,400,000.
Where the taxable income exceeds Rs 1,500,000 but does not exceed Rs 1,800,000, the rate of income tax is Rs 95,000 + 15% of the amount exceeding Rs 1,500,000.
Where the taxable income exceeds Rs 1,800,000 but does not exceed Rs 2,500,000, rate of tax is Rs 140,000 + 17.5% of the amount exceeding Rs 1,800,000.
Where the taxable income exceeds Rs 2,500,000 but does not exceed Rs 3,000,000, the rate of income tax is Rs 262,500 + 20% of the amount exceeding Rs 2,500,000.
Where the taxable income exceeds Rs 3,000,000 but does not exceed Rs 3,500,000, the rate of income tax is Rs 362,500 + 22.5% of the amount exceeding Rs 3,000,000.
Where the taxable income exceeds Rs 3,500,000 but does not exceed Rs 4,000,000, the rate of income tax is Rs 475,000 + 25% of the amount exceeding Rs 3,500,000.
Where the taxable income exceeds Rs 4,000,000 but does not exceed Rs 7,000,000, the rate of income tax is Rs 600,000 + 27.5% of the amount exceeding Rs 4,000,000.
Where the taxable income exceeds Rs 7,000,000, rate of tax is Rs 1,425,000 + 30% of the amount exceeding Rs 7,000,000.

tax sections
 

can anybody briefly describle all the section for 2015 tax syllabus. I am finding it difficult to extract information from book regarding rules.

What tax rates ll apply in CSS 15?
 

[QUOTE=bismaa;794236]As per the Finance Act passed by Government of Pakistan, following slabs and income tax rates shall be applicable for salaried persons and salaried class for the year 2014-2015:

Where the taxable salary income does not exceed Rs 400,000, the rate of income tax is 0%;
Where the taxable income exceeds Rs 400,000 but does not exceed Rs 750,000, the rate of income tax is 5% of the amount exceeding Rs 400,000.
Where the taxable income exceeds Rs 750,000 but does not exceed Rs 1,400,000,the rate of income tax is Rs 17,500 + 10% of the amount exceeding Rs 750,000.
Where the taxable income exceeds Rs 1,400,000 but does not exceed Rs 1,500,000, the rate of income tax is Rs 82,500 + 12.5% of the amount exceeding Rs 1,400,000.
Where the taxable income exceeds Rs 1,500,000 but does not exceed Rs 1,800,000, the rate of income tax is Rs 95,000 + 15% of the amount exceeding Rs 1,500,000.
Where the taxable income exceeds Rs 1,800,000 but does not exceed Rs 2,500,000, rate of tax is Rs 140,000 + 17.5% of the amount exceeding Rs 1,800,000.
Where the taxable income exceeds Rs 2,500,000 but does not exceed Rs 3,000,000, the rate of income tax is Rs 262,500 + 20% of the amount exceeding Rs 2,500,000.
Where the taxable income exceeds Rs 3,000,000 but does not exceed Rs 3,500,000, the rate of income tax is Rs 362,500 + 22.5% of the amount exceeding Rs 3,000,000.
Where the taxable income exceeds Rs 3,500,000 but does not exceed Rs 4,000,000, the rate of income tax is Rs 475,000 + 25% of the amount exceeding Rs 3,500,000.
Where the taxable income exceeds Rs 4,000,000 but does not exceed Rs 7,000,000, the rate of income tax is Rs 600,000 + 27.5% of the amount exceeding Rs 4,000,000.
Where the taxable income exceeds Rs 7,000,000, rate of tax is Rs 1,425,000 + 30% of the amount exceeding Rs 7,000,000.[/QUOTE]

I appeared in css 2014 and Tax qs was regarding year 2012. Do you know in css 15, what tax year rates ll apply?

hey can anyone please refer me any e book for tax and section 10 please

[QUOTE=KHANSHAHRUKH;794410]I appeared in css 2014 and Tax qs was regarding year 2012. Do you know in css 15, what tax year rates ll apply?[/QUOTE]

it doesn't matter.you can apply rates even of 2014-15 just make a note at the end that you applied the rate of which year..