Income Tax Rate For Employee 2076/77 Fiscal year (2019/20) Nepal (Employement Tax)

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.


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