Kathmandu, May 30
Through the new budget plan announced on Sunday, the government has revised income tax slabs for individuals. The new provision will come into effect from mid-July as the new fiscal year begins then.
The revision will give relief to people with low regular incomes.
See the tables below to know details of the new tax rates.
For unmarried people
| Annual income | Tax rate | Tax amount | Annual tax amount |
| Up to Rs 500,000 | 1% | Rs 5,000 | Rs 5,000 |
| Additional Rs 200,000 | 10% | Rs 20,000 | Rs 25,000 |
| Additional Rs 300,000 | 20% | 60,000 | Rs 85,000 |
| Additional Rs 1 million | 30% | Rs 300,000 | Rs 385,000 |
| Any additional amount above Rs 2 million | 36% |
For married people
| Annual income | Tax rate | Tax amount | Annual tax amount |
| Up to Rs 600,000 | 1% | Rs 6,000 | Rs 6,000 |
| Additional Rs 200,000 | 10% | Rs 20,000 | Rs 26,000 |
| Additional Rs 300,000 | 20% | 60,000 | Rs 86,000 |
| Additional Rs 1 million | 30% | Rs 300,000 | Rs 386,000 |
| Any additional amount above Rs 2 million | 36% |
The post Nepal revises income tax slabs for individuals for FY 2022/23. Here are the details appeared first on OnlineKhabar English News.
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