Skip to main content

Income Tax Rate for FY 2076/77 for Individuals and Couples

Per Nepalese Income Tax Act - Tax Slab and Tax Rate for FY 2076.77 for those having Income Only from Employment

Particulars IndividualCouple
Taxable Income (In NRs.) Incremental Taxable Income Tax on Incremental Taxable Income Taxable Income (In NRs.) Incremental Taxable Income Tax on Incremental Taxable Income
First Slab 400,000.00 400,000.00 1%* 450,000.00 450,000.00 1%*
Second Slab 500,000.00 100,000.00 10% 550,000.00 100,000.00 10%
Third Slab 700,000.00 200,000.00 20% 750,000.00 200,000.00 20%
Fourth Slab 2,000,000.00 1,300,000.00 30% 2,00,000.00 1,250,000.00 30%
Fifth Slab Above 2,000,000.00 Greater than 2,000,000.00 36% Above 2,00,000.00 Greater than 2,000,000.00 36%

Note(*): 1% Tax will not be levied in case of a natural person:
a) Registered as Sole Proprietorship Firm
b) Having income only from Retirement
c) Contributing to the Retirement Fund and Social Security Fund
Per Nepalese Income Ta Act - Tax Slab and Tax Rate for FY 2076.77 for those having Income Only from Sole Proprietorship
Particulars IndividualCouple
Taxable Income (In NRs.) Incremental Taxable Income Tax on Incremental Taxable Income Taxable Income (In NRs.) Incremental Taxable Income Tax on Incremental Taxable Income
First Slab 400,000.00 400,000.00 1%* 450,000.00 450,000.00 1%*
Second Slab 500,000.00 100,000.00 10% 550,000.00 100,000.00 10%
Third Slab 700,000.00 200,000.00 20% 750,000.00 200,000.00 20%
Fourth Slab 2,000,000.00 1,300,000.00 30% 2,00,000.00 1,250,000.00 30%
Fifth Slab Above 2,000,000.00 Greater than 2,000,000.00 36% Above 2,00,000.00 Greater than 2,000,000.00 36%

We will soon be posting the excel based income tax calculator for your use. Please continue to visit our blog.
Labels:
Location: Kathmandu 44600, Nepal

Comments

Post a Comment

Most Viewed

Tax Collection Agency codes for IRD Offices all over Nepal

Inland Revenue Department Nepal has published the agency codes that shall be used for the collection of direct and indirect taxes for the general public's information. Each code consists of 9 numbers. There are in total 59 agency codes currently in use. From these codes, we can classify that there are four types of IRD offices currently in operation. 1) Inland Revenue Office 2) Tax Payer Service Office 3) Large Tax Payer Service Office, and 4) Medium Tax Payer Service Office When shall you use these codes? It shall be used while choosing the agency where the tax should be deposited while completing the form for depositing the taxes. Agency Code list below: S.N. Agency Code Name Address 1 305011620 Inland Revenue Office Lahan 2 305030201 Tax Payer Service office Phidim 3 305030301 Tax Payer Service office Illam 4 305030401 Tax Payer Service office Khandbari 5 305030601 ...
1 comment
Read more

Process for Electronic Billing Software Registration with Inland Revenue Department Nepal

Process is straight forward, one is required to submit the online form along with the following documents: 1)       Copy of the Tax Clearance Certificate 2)       Copy of the Permanent Account Number (PAN) 3)       Copy of Company Registration Certificate 4)       User Manual for the software signed by company representative and stamped on each page 5)       Guarantee letter that Data Amendment or Edit (Manipulation) is not possible on the software 6)       Data Backup and Recovery System is available on the software 7)       System Architecture Detail 8)       Software Set Up file and Invoice Sample in Excel – 20 copies each in 20 pen drive 9)       Connection with Central Billing Management Software (CBMS) – API can be collected Service Branc...
17 comments
Read more

Financial Statement Template for Not for Profit Organizations (NGOs and INGOs)

Here's the recommended financial statement template by Nepal Accounting Standard (NAS) for Not for Profit Organizations (NGOs and INGOs) that you can download and modify to meet your requirements. These are developed to meet the common minimum information required of NPOs. Users can add additional information to ensure financial transparency and provide relevant information to different stakeholders. Nepal Accounting Standard board believes that by adopting the following template, users can easily understand the financial statements and also,  be able to compare with other NPOs. Model Financial Statement for NPOs (Based on NAS for NPOs) is given below: You can also download the template from the link below: Click Here
2 comments
Read more