Table of Contents
New Tax Rates (Fiscal Year 2023-2024)
* (i) NO PAYE deducted from the monthly emoluments of an employee where such emoluments do not exceed Rs 30,000 (EXEMPT Employee) who submitted his EDF
- Employee's EDF record
- Employee's PAYE calculation slip
* (ii) New PAYE calculation on the chargeable income brackets provided by the MRA
- Employee's EDF record
- Employee's PAYE calculation slip
* (iii) PAYE at flat rate of 15% where NO EDF is submitted by an employee who derives emoluments exceeding Rs 30,000 in a month
* Employee's EDF record
* Employee's PAYE calculation slip
* (iv) PAYE at flat rate of 15% where NO EDF is submitted by an employee who derives emoluments not exceeding Rs 30,000 in a month
* Employee's EDF record
* Employee's PAYE calculation slip
Illustration of tax calculation on the annual chargeable income of an individual
MRA illustration
