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Salary Tax Calculator

Salary Tax Calculator Pakistan available here for those have no idea how to calculate the taxes over the specified salary. The development of the page is to calculate the tax upon individual salary so everyone should pay their taxes compliance with the FBR Pakistan rules. This page gives you exact and up-to-date information on tax when you put your salary in the specified space only. It is the page to facilitate those people who wants to know about the salary taxes. The calculation starts when you go with your monthly tax over the monthly salary with a single click.

Salary Tax Calculator Pakistan

The Federal Board of Revenue (FBR) has recommended that the government to decrease the minimum threshold of yearly revenue tax slab from Rs1.2 million from the upcoming miniature budget to create extra earnings. This could be the miniature budget of PTI. so get the idea about the above Salary Tax Calculator Pakistan

INCOME TAX SLABS FINANCIAL YEAR 2019-20

INCOME TAX SLABS FINANCIAL YEAR 2019-20    
NO.LOWER LIMITUPPER LIMITFIXED AMOUNT ADDITIONINCOME TAX RATE (%)
1040000000
240000180000010000
3800001120000020000
41200001240000005
5240000148000006000010
648000011000000000030000015
Source: nation.com.pk/22-Jan-2019/fbr-for-reducing-min-threshold-of-tax-slab
INCOME TAX SLABS FINANCIAL YEAR 2019-20

The government will take some tax measures of about Rs 150 billion. It’s worth mentioning here that the former government had given exemption of earnings ceiling around Rs1.2 million in Rs400,000 per annum. The downward revision at minimum threshold of yearly revenue tax slab is just one reason behind enormous shortfall in tax collection through first six months (July to December) of this continuing fiscal year. so get the idea about the above Salary Tax Calculator Pakistan

Revised Pay Scale 2022

BPSScale YearMININCRMAX
120221172038023120
220221195043024850
320221334051027640
420221271058030100
520221318065032680
620221328073035180
720221411080038110
820221661088014010
920221511095043610
10202215610104046810
11202216140115050640
12202217100125054600
13202218310137059410
14202219490153065390
15202220700173072600
16202224280198083680
17202238990299098790
182022492103740124010
192022759903970155390
202022886505870170830
212022767205000146720
222022823805870164560

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The FBR had confronted tax set shortfall of Rs158 billion through first six months of this year that was continuing. Rs1894 billion had accumulated against the goal of Rs2052 billion during six months. For anyone who have earning Rs wages that is 800,000-Rs, might need to pay Rs 2,000 in taxation. Whereas, for individuals making Rs1.2 million to 2.4 million rupees, five percent extra tax will be implemented, in accordance with the new amendment. so get the idea about the above Salary Tax Calculator Pakistan

Read Out Basic Concepts of Tax on Income

For those making Rs 2.4 million to 4.8 million rupees annually will be pay Rs 60,000 along with 10pc additional taxation. Additional those making over Rs 4.8 million annually, a fixed tax of Rs 300,000 is payable along with 15pc of their wages amount above this limitation. “Increasing the minimum threshold of yearly revenue tax on Rs1.2 million in Rs400,000 has generated a shortfall of Rs25 billion in tax group over six months of this present financial year,” stated an official of the FBR. He said that FBR has recommended that the authorities to revise the minimal threshold of yearly revenue tax slab down from Rs1.2 million into Rs800, 000. so get the idea about the above Salary Tax Calculator Pakistan