India Vs Pakistan Income Tax Comparision: of the center Narendra Modi The government has presented the budget. Union Finance Minister Nirmala Sitharaman made a big announcement while presenting the budget. He said that now no tax will have to be paid on income up to Rs 7 lakh, which was Rs 5 lakh till now. Finance Minister Nirmala Sitharaman has given great relief to taxpayers under the new tax regime. Under the new income tax regime, the tax exemption limit has been increased from Rs 2.50 lakh to Rs 7 lakh.
Let us tell you that recently Pakistan’s Finance Minister Mifta Ismail also presented the budget of Pakistan. The neighboring country had also given a lot of relaxation in the tax slab. Today we are going to tell you about the exemption in the tax slab of Pakistan.
How much income tax does one have to pay in Pakistan?
In Pakistan, one who earns 12 lakhs annually has to pay 100 rupees tax. While the annual income up to 6 lakhs is absolutely free. On the other hand, talking about the tax slab, in the first slab such people are included, whose salary is up to Rs 6 lakh per year. No income tax is applicable on them.
The second slab is about those people whose annual income is more than 6 lakhs but up to 12 lakhs. Such people will have to pay only Rs 100 tax annually and this is an attempt to bring them under the tax net.
The difference between the land and the sky between the rupees of India and Pakistan
There is a sky-high difference between the rupees of India and Pakistan. Comparing with dollar, the price of one US dollar in Indian rupee is Rs 81.79. At the same time, the price of rupee in Pakistan is Rs 267.48 against one US dollar.
