News update: 14 October 2024 is last date to file income tax return for tax year 2024.
Tax Calculator Pakistan 2024-2025
This is the latest tax calculator per the 2024-2025 budget presented by the government of Pakistan.
Income/Tax Ratio
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Income Tax Filing Services for Salaried Individuals and Freelancers
Looking for reliable income tax filing help? We provide professional services for salaried employees and freelancers. Whether it’s your first time or you need expert guidance, our team ensures a smooth, accurate process.
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Income Tax Slabs Year 2024-2025
As per the latest income tax regulations for the year 2024-2025, the following slabs and income tax rates will be applicable for salaried persons:
up to 600,000 PKR
Where the taxable salary income does not exceed Rs. 600,000, the rate of income tax is 0%.
600,001 to 1,200,000 PKR
Where the taxable salary income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000, the rate of income tax is 5% of the amount exceeding Rs. 600,000.
1,200,001 to 2,200,000 PKR
Where the taxable salary income exceeds Rs. 1,200,000 but does not exceed Rs. 2,200,000, the rate of income tax is Rs. 30,000 + 15% of the amount exceeding Rs. 1,200,000.
2,200,001 to 3,200,000 PKR
Where the taxable salary income exceeds Rs. 2,200,000 but does not exceed Rs. 3,200,000, the rate of income tax is Rs. 180,000 + 25% of the amount exceeding Rs. 2,200,000.
3,200,001 to 4,100,000 PKR
Where the taxable salary income exceeds Rs. 3,200,000 but does not exceed Rs. 4,100,000, the rate of income tax is Rs. 430,000 + 30% of the amount exceeding Rs. 3,200,000.
Above Rs. 4,100,000 PKR
Where the taxable salary income exceeds Rs. 4,100,000, the rate of income tax is Rs. 700,000 + 35% of the amount exceeding Rs. 4,100,000.
Understanding Pakistan’s Tax System
For detailed information on Pakistan’s tax laws and regulations, visit the official Federal Board of Revenue (FBR) website. The FBR provides comprehensive resources, including current tax rates, rules, and the latest updates. This is crucial for staying informed about changes in tax legislation and ensuring compliance with the latest requirements. Whether you’re using an income tax calculator, salary tax calculator, or any other tax calculator in Pakistan, staying updated with FBR guidelines is essential for accurate tax planning.
How to Use the Income Tax Calculator?
Estimated Calculation
Enter your monthly salary, and the calculator will estimate your total tax for the fiscal year (July to June). This provides a quick overview of your expected tax amount.
Actual Calculation
Input your earnings and any taxes paid so far. The calculator will give an accurate tax total for the year, helping you track your tax liability.
Concepts of Income Tax
You will learn the fundamentals of income tax including taxable and none taxable sources. This brochure is to assist taxpayers.
Budget in Brief (PDF)
Federal Budget in Brief 2024-25. The fiscal year 2024-25 along with budget estimates and revised estimates for the fiscal year 2024-25.
Benefits of Using the Salary Tax Calculator Pakistan 2024-2025
Why use this Income tax calculator in Pakistan? Here are some key benefits:
1. Accuracy
The calculator provides precise tax calculations tailored to your income, helping you avoid errors and plan your finances better.
2. Ease of Use
It’s designed for easy navigation, allowing anyone to calculate their taxes without needing any prior tax knowledge.
3. Time-Saving
Quickly determine your tax liability without dealing with complex formulas or manual calculations, saving you valuable time.
4. Up-to-date
Income Tax Return 2024 Last Date
The Federal Board of Revenue (FBR) has extended the income tax return 2024 last date to October 14, following requests from trade associations and Tax Bar Associations. Previously set for September 30, the tax return last date 2024 was extended to accommodate taxpayers facing challenges.
Frequently Asked Questions!
Have questions about SaasyPOS? We’ve got you covered. Explore our FAQ section to find answers to common inquiries.
Taxable income is your total income after subtracting any donations that qualify for deductions and certain allowable expenses.
This calculator uses the latest tax rates and rules, ensuring that your tax calculations are as accurate as possible.
Yes, the Income Tax Calculator is versatile and can handle various salary structures.
When you input previous salary and taxes you have paid, the calculator adjusts the total taxable amount to current standing, giving an accurate picture of obligations.
You can calculate your income tax by entering your yearly or monthly income into a tax calculator. Open Income tax Calculator Pakistan to Calculator your Income tax in seconds.
Total income is the combined amount of all types of income that are subject to tax. This includes:
- Salary
- Income from property (like rent)
- Income from business (profits)
- Capital gains (profits from selling assets like stocks or property)
- Income from other sources (any other income)
Certain donations can be subtracted from your total income, reducing your taxable income. These donations must qualify for deductions under tax laws.
You can obtain your NTN by registering on the FBR IRIS portal.