New Income Tax Slab Rate for Salaried or Business Individual Person in Nepal For F.Y. 2080-081

Selection of Single (for Unmarried Individual) or Coupled (for Married Individual) is very important factor for determining Income Tax Slab in Nepal.

Income Tax Rates for Individual are as follows:

 

 But if you are married and you wish to claim for coupled return (if both husband and wife are working, you cannot opt for this option), the following would be the tax implications:

There are some tax savings facilities that an Individual person can obtain. We will discuss them one by one.

1. Contribution into a retirement funds.

 Contribution into Citizen Investment Trust (CIT) or PF (max. 3 Lakh Combined)

 Contribution into Citizen Investment Trust (CIT) or PF or SSF (max. 5 Lakh Combined or SSF only)

For above both conditions, Max. ceiling is 1/3 of Assessable Income

2. Remote Area Allowances 

(10k to 50k, according to remote area category)

3. Amount paid into Life Insurance Premium 

(Max. upto Nrs. 40,000)

4. Amount paid into Medical Insurance Premium 

(Max. upto Nrs. 20,000)

5. Amount paid for Insurance Premium of self owned house

(Max. upto Nrs. 5,000)

Notes: 

a. 10% Rebate will be allowed on computed tax to Female Individual, if she has income only from salary.

b. Nrs. 750 can be claimed as Income Tax Credit (on computed tax amount) for Medical Expenses upto presetation of Medical Bills.