This calculation is applicable for all resident employees who have furnished the Primary Employment Declaration to Employer.
Regular profits from employment include:
In preparing this Tax Table, Rs. 41,667/= per month (Rs. 500,000 per annum) as tax free allowance and Rs. 58,333/= per month (Rs. 700,000 per annum) as special tax free allowance only for employment income have already been deducted. hence, tax deductions should be made from the profits from employment applying Tax Tables without deducting any sum from such profits from employment, unless a direction is issued by the Commissioner General or any officer authorized by him.
It should be noted that other than the exempt amounts given in the third schedule of the Inland Revenue Act, No. 24 of 2017, No exemptions are available for employment income with effect from 01-April-2018.