Income Tax Rate For Employee 2076/77 Fiscal year (2019/20) Nepal (Employement Tax)
Following are the tax rate for the fiscal year 2076/77 for on salary income as per Finance Act 2076/77 are as below
Fiscal Year 2076/77
Individual
Income tax for the individual employee shall be as below as per Fiscal Act 2076/77 (2019/20)
Direct Tax – Employment Tax - Income Tax Rates- Schedule 1
Income Slab |
Rate of Tax |
---|---|
First Rs. 400,000 |
1% |
Next Rs. 100,000 |
10% |
Next Above 200,000 |
20% |
Above 600,000 | 30% |
If the taxableincome is above Rs 2,000,000 |
20% additional tax on the tax amount calculated under 30% slab above (applicable only in the income above 2,000,000) i.e. 36% |
Couple
Income tax for the couple shall be as below as per Fiscal Act 2076/77 (2019/20)
Direct Tax – Employment Tax - Income Tax Rates- Schedule 1
Income Slab |
Rate of Tax |
---|---|
First Rs. 450,000 |
1% |
Next Rs. 100,000 |
10% |
Above 200,000 |
20% |
Above 550,000 | 30% |
If the taxableincome is above Rs 2,000,000 |
36% |
Fiscal Year 2075/76
Income Slab |
Rate of Tax |
---|---|
First Rs. 350,000 (400,000 for couple) |
1% |
Next Rs. 100,000 |
10% |
Next 200,000 |
20% |
Next 650,000 | 30% |
If the taxableincome is above Rs2,000,000 |
20% additional tax on the tax amount calculated under 30% slab above (applicable only in the income above 2,000,000) i.e. 36% |
Fiscal Year 2074/75
Income Slab |
Rate of Tax |
First Rs. 350,000 |
1% |
Next Rs. 100,000 |
15% |
Above 450,000 |
25% |
If the taxable income is above Rs 2,500,000 |
40% additional tax on the tax amount calculated under 25% slab above (applicable only in the income above 2,500,000) |
Provision of 10% exemption is made to female employees. |
Published from with https://udya.me/blog/view/Income-Tax-Rate-employee-Highlights-2076-77-Fiscal-year-2019-20-Nepal-employment-tax authorization.
Some information may be missing please check back later we will update complete details after pdf copy of budget will be available.