09-16-2011, 09:53 PM
YES. Rates for salaried persons are given in Table under Para (1A) of Part I of First Schedule to the ITO, 2001. While telling to whom that TABLE applies para (1A) says, "where the <b><u>income of an individual chargeable under the head salary exceeds fifty percent of his taxable income,</b></u> the rates of tax to be applied shall be as set out in the following table"
