Income Tax Calculator
Calculate Your Income Tax Liability with Our Easy-to-Use Income Tax Calculator
By Month
Monthly Salary including tax
Tax deduction by month
Salary after tax deduction
By Year
Annual Salary including tax
Tax deduction by year
Salary after tax deduction
Description:
This calculator provides the tax deduction details based on the selected tax period. It calculates both monthly and annual tax deductions, as well as the salary after tax deduction. Click the "Calculate Tax" button to see the results.
Income Tax Slabs in Pakistan for FY 2023-24
| Taxable income (PKR) | Tax rate (%) |
|---|---|
| 0 – 600,000 | 0 |
| 600,000 – 1,200,000 | 2.5 |
| 1,200,000 – 2,400,000 | 15,000 + 12.5% of the amount exceeding PKR 1,200,000 |
| 2,400,000 – 3,600,000 | 165,000 + 22.5% of the amount exceeding PKR 2,400,000 |
| 3,600,000 – 6,000,000 | 435,000 + 27.5% of the amount exceeding PKR 3,600,000 |
| Over 6,000,000 | 1,095,000 + 35% of the amount exceeding PKR 6,000,000 |
Example of Income Tax Calculation in Pakistan
Additional details:
- The taxable income is calculated by deducting all allowable deductions from the gross income. Allowable deductions include contributions to provident fund, life insurance premiums, medical expenses, and house rent allowance.
- There are a number of tax credits available in Pakistan, such as the education tax credit, the special tax credit for people with disabilities, and the tax credit for charity donations. Tax credits can reduce your tax liability dollar-for-dollar.
- The net income tax liability is calculated by subtracting any tax credits from the tax liability.
- The income tax year in Pakistan runs from July 1 to June 30. Income tax returns are due by September 30th each year.
Important notes:
- The income tax slabs and rates are subject to change each year. It is always best to check with the Federal Board of Revenue (FBR) for the latest information.
- The income tax calculator is just a tool to estimate your tax liability. It is important to consult with a qualified tax advisor to get an accurate calculation of your tax liability.
