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Employee Name Designation Department Taxable Income For The Year 2010-11

Optimistic Law Tax Calculator for Salary Income 2010Associate 11


Age Profession 540000 Annually Tax Credit / Adjustment For Credits Items Charitable donation Investment in Listed Shares
Contribution to approved pension Fund Annual contribution Interest Paid On loans for purchase or construction of House Under 60 Years1 Others

Annually TAX Calculation Total Annual Taxable Income for the Year Tax Rate for the Year Total Tax payable for the Tax year AFTER MARGINAL TAX RELIEF Amount on the maximum of the slab Tax payable on the maximum of the slab marginal increase maximum of the slab Rate of Marginal Relief % Tax Payable on Marginal relief Total Tax Payable

540000 3.5 18900 450000 11250 90000 20.0 18000 29250

2.50

Withholding Adjustment For the Y Tax Deducted by Employer On telephone bill Along with motor vehicle Tax On cash withdrawals from banks On registration of new Car/Jeep Tax Calculation For Motor Vehicle Usage of Motor Vehicle Cost of Motor Vehicle Vehicle used by employee from 2 Only Private Use 1 Value of Motor Vehicle
July, 2010

Tax Payable Without Marginal Relief


Rebate Less : Rebate for Senior Citizen Less : Rebate for Senior Teacher With Holding/Tax Credit Adjustment Less: Withholding Taxes Less: Tax Credits

18900
0 0 0 0

This amount shell be added employee's taxable income Tax Calculation For Interest Free Loan Loan Amount
5%

TAX PAYABLE WITH RETURN

18900

Interest Rate Loan Received on 12 1

5% July, 2010

5 1

IF Yes

Tax Calculation for services of a housekeeper, driver, gar or other domestic assistant. from from from
July, 2010 1 July, 2010 1 July, 2010 1

11 12 13

Housekeeper Housekeeper Housekeeper

Housekeeper from July, 2010 1 14 This amount shell be added employee's taxable income

Sub-Section 2 of Section 12 Income Tax Ordinance

Male Over 60 Under 60 Years Female Years

dit / Adjustment For the Year Amount

Credit 0 0 0 0

Salary means any amount received by an employee from any employment, whether of a r capital nature, including (a) any pay, wages or other remuneration provided to an employee, including leave pay, p Teacher / Researcher lieu of leave, overtime payment, bonus, commission, fees, gratuity or work Others condition supplements (such as for unpleasant or dangerous working conditions); (b) any perquisite, whether convertible to money or not; (c) the amount of any allowance provided by an employer to an employee including a cos subsistence, rent, utilities, education, entertainment or travel allowance, but shall not include any allowance solely expended in the performance of the employees duties of em (d) the amount of any expenditure incurred by an employee that is paid or reimbursed by employer, other than expenditure incurred on behalf of the employer in the performance o employees duties of employment;

Adjustment For the Year

Motor Vehicle
Use

If Yes

10%

tor Vehicle

FALSE 1 to
December, 2010

Office & Private Use Only Private Use 6 6 Value of rent Monthly Motor Vehicle paid by employer

1% July, 2010 2% August, 2010 3% September, 2010 4% October, 2010 5% November, 2010 6% December, 2010 7% January, 2011

, 2010

ncome
IF Yes

0 FALSE 0

erest Free Loan No. of Installment

Bench Mark Rate Taxable Amount

11% 0

0 0

0 0

8% February, 2011 9% March, 2011 10% April, 2011 Housekeeper Driver 11% May, 2011 June, 2011

usekeeper, driver, gardener assistant. to to to to


June, 2011 June, 2011 June, 2011 June, 2011

Monthly salary paid by employer

FALSE 12 12 12 12

12 12 12 12 0

0 Gardner 0 Other 0 0 0

ncome

ther of a revenue or

ave pay, payment in

);

ding a cost of living, all not ties of employment; bursed by the ormance of the

Income Tax Slab Rates From Up to Tax Rate % 0 300,000


300,001 350,001 400,001 450,001 550,001 650,001 750,001 900,001 1,050,001 1,200,001 1,450,001 1,700,001 1,950,001 2,250,001 2,850,001 3,550,001 4,550,001 350,000 400,000 450,000 550,000 650,000 750,000 900,000 1,050,000 1,200,000 1,450,000 1,700,000 1,950,000 2,250,000 2,850,000 3,550,000 4,550,000

0 0.75 1.5 2.5 3.5 4.5 6 7.5 9 10 11 12.5 14 15 16 17.5 18.5 20

Marginal Relief
Rate Amount

20 30 40 50 60

550000 Upto 1050000 Upto 2250000 Upto 4550000 Upto 4550000 Exceed