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

* (iii) Illustration of tax calculation on the annual chargeable income of an individual: * 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**