03/08/2025
Punjab Agricultural Income Tax Rate for the Year 2024-25.
Where the taxable Agriculture income does not exceed Rs. 400,000, the rate of income tax is 0%.
Where the taxable Agriculture income exceeds Rs. 400,000 but does not exceed Rs. 800,000, the rate of income tax is Rs.1000 of the amount exceeding Rs. 400,000.
Where the taxable Agriculture income exceeds Rs. 800,000 but does not exceed Rs. 1,200,000, the rate of income tax is Rs. 2,000 of the amount exceeding Rs. 800,000.
Where the taxable Agriculture income exceeds Rs. 1,200,000 but does not exceed Rs. 2,400,000, the rate of income tax is 5% of the amount exceeding Rs. 1,200,000.
Where the taxable Agriculture income exceeds Rs. 2,400,000 but does not exceed Rs. 4,800,000, the rate of income tax is Rs. 60,000 + 10% of the amount exceeding Rs. 2,400,000.
Where the taxable Agriculture income exceeds Rs. 4,800,000, the rate of income tax is Rs. 300,000 + 15% of the amount exceeding Rs. 4,800,000.