As per Lawkidunya, Here’s a simple income tax calculator for Pakistan based on Section 149 of the Income Tax Ordinance, 2001:
Tax Calculator
Taxable Income
Enter your taxable income: PKR
Tax Rates
| Taxable Income | Tax Rate |
| Up to PKR 600,000 | 0% |
| PKR 600,001 – PKR 1,200,000 | 5% |
| PKR 1,200,001 – PKR 2,200,000 | 15% |
| PKR 2,200,001 – PKR 3,200,000 | 25% |
| PKR 3,200,001 – PKR 4,100,000 | 30% |
| PKR 4,100,001 and above | 35% |
Calculations
1. Enter your taxable income.
2. Determine your tax bracket based on the tax rates above.
3. Calculate your tax liability using the tax rate for your bracket.
Example of Calculations
Example 1: Taxable Income PKR 800,000
Taxable income: PKR 800,000
Tax bracket: PKR 600,001 – PKR 1,200,000
Tax rate: 5%
Tax liability: PKR 10,000 (5% of PKR 200,000, which is the amount exceeding PKR 600,000)
Example 2: Taxable Income PKR 2,500,000
Taxable income: PKR 2,500,000
Tax bracket: PKR 1,200,001 – PKR 2,200,000
Tax rate: 15%
Tax liability: PKR 210,000 (PKR 30,000 + 15% of PKR 1,200,000, which is the amount exceeding PKR 1,200,000)
Please note that this is a simplified calculator and does not take into account other factors that may affect your tax liability, such as:
– Additional taxes or surcharges
– Tax exemptions or deductions
– Tax credits
– Other sources of income
It’s essential to consult a tax professional or the Federal Board of Revenue (FBR) website for accurate and personalized tax calculations.