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    Tax Calculator (Salaried Person) : Monthly Basic Salary

    Uploaded by

    Abbas Ali
    This document contains information about calculating taxes for a salaried person in India. It provides details of the individual's monthly basic salary of Rs. 60,000 and their annual salary of Rs. 720,000. Based on the annual salary amount and tax slabs, the individual's annual income tax is calculated to be Rs. 6,000. The document also contains tax calculation information for other income types like net income, presumptive income, and property income.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Tax Calculator (Salaried Person) : Monthly Basic Salary

    Uploaded by

    Abbas Ali
    41 views5 pages
    This document contains information about calculating taxes for a salaried person in India. It provides details of the individual's monthly basic salary of Rs. 60,000 and their annual salary of Rs. 720,000. Based on the annual salary amount and tax slabs, the individual's annual income tax is calculated to be Rs. 6,000. The document also contains tax calculation information for other income types like net income, presumptive income, and property income.

    Original Description:

    Salary Tax Calculator Pakistan

    Original Title

    Copy of TAX-CALCULATOR-2020

    Copyright

    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    This document contains information about calculating taxes for a salaried person in India. It provides details of the individual's monthly basic salary of Rs. 60,000 and their annual salary of Rs. 720,000. Based on the annual salary amount and tax slabs, the individual's annual income tax is calculated to be Rs. 6,000. The document also contains tax calculation information for other income types like net income, presumptive income, and property income.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    41 views5 pages

    Tax Calculator (Salaried Person) : Monthly Basic Salary

    Uploaded by

    Abbas Ali
    This document contains information about calculating taxes for a salaried person in India. It provides details of the individual's monthly basic salary of Rs. 60,000 and their annual salary of Rs. 720,000. Based on the annual salary amount and tax slabs, the individual's annual income tax is calculated to be Rs. 6,000. The document also contains tax calculation information for other income types like net income, presumptive income, and property income.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5
    At a glance
    Powered by AI
    The documents provide information about income tax calculations for salaried individuals and businesses, as well as capital gains tax calculations.

    For salaried individuals, monthly taxable income is calculated by deducting allowances from basic salary, and monthly tax is deducted based on annual taxable income and applicable tax slabs.

    Individuals and AOP are taxed based on eight tax slabs ranging from 0-35% based on annual taxable income exceeding certain thresholds.

    TAX CALCULATOR (SALARIED PERSON)

    MONTHLY BASIC SALARY 60,000


    ALLOWANCES + BASIC 60,000
    10% MEDICAL ALLOWNACE OF BASIC SALARY:
    applicable only in terms of second schedule part I
    ✘ YES - 0
    clause 139(g)

    MONTHLY TAXABLE SALARY 60,000


    MONTHLY TAX DEDUCTION 500.00

    ANNUAL SALARY 720,000


    TAX *******************
    Annual Income Tax 6,000.00

    Where the taxable but does not TAXABLE TAX


    SLAB To Rate Of Tax Addition REVERSE WORKING
    Income Exceed exceed rupees AMOUNT PAYABLE

    1 - 600,000 0.00% - 720,000 - -


    2 600,000 TO 1,200,000 5.00% 720,000 6,000 -
    3 1,200,000 TO 1,800,000 10.00% 30,000 720,000 - -
    4 1,800,000 TO 2,500,000 15.00% 90,000 720,000 - -
    5 2,500,000 TO 3,500,000 17.50% 195,000 720,000 - -
    6 3,500,000 TO 5,000,000 20.00% 370,000 720,000 - -
    7 5,000,000 TO 8,000,000 22.50% 670,000 720,000 - -
    8 8,000,000 TO 12,000,000 25.00% 1,345,000 720,000 - -
    9 12,000,000 TO 30,000,000 27.50% 2,345,000 720,000 - -
    10 30,000,000 TO 50,000,000 30.00% 7,295,000 720,000 - -
    11 50,000,000 TO 75,000,000 32.50% 13,295,000 720,000 - -
    12 75,000,000 TO ### 35.00% 21,420,000 720,000 - -
    999,999,999,999,999

    Tax Liability Annual 6000 0


    -

    0
    CALCULATOR (INDIVIDUAL & AOP)

    NET INCOME - Annual Final / Fixed Tax ******************


    Annual Income Tax - PRESUMPTIVE INCOME AFTER TAX #VALUE!

    Where the
    but does not TAXABLE TAX PRESUMPTIVE
    SLAB taxable Income To Rate Of Tax Addition
    exceed rupees AMOUNT PAYABLE INCOME
    Exceed

    1 - 400,000 0.00% - - - -
    2 400,000 TO 600,000 5.00% - - -
    3 600,000 TO 1,200,000 10.00% 10,000 - - -
    4 1,200,000 TO 2,400,000 15.00% 70,000 - - -
    5 2,400,000 TO 3,000,000 20.00% 250,000 - - -
    6 3,000,000 TO 4,000,000 25.00% 370,000 - - -
    7 4,000,000 TO 6,000,000 30.00% 620,000 - - -
    8 6,000,000 TO ### 35.00% 1,220,000 - - -
    ###

    Tax Liability Annual 0 0


    CALCULATOR

    Property Income -
    TAX
    Annual Income Tax -

    Where the taxable but does not exceed TAXABLE TAX


    SLAB To Rate Of Tax Addition
    Income Exceed rupees AMOUNT PAYABLE

    1 - 200,000 0.00% - - -
    2 200,000 TO 600,000 5.00% - - -
    3 600,000 TO 1,000,000 10.00% 20,000 - -
    4 1,000,000 TO 2,000,000 15.00% 60,000 - -
    5 2,000,000 TO 4,000,000 20.00% 210,000 - -
    6 4,000,000 TO 6,000,000 25.00% 610,000 - -
    7 6,000,000 TO 8,000,000 30.00% 1,110,000 - -
    8 8,000,000 TO 999,999,999,999,999 35.00% 1,710,000 - -
    ###

    Tax Liability Annual 0


    ********************

    REVERSE WORKING

    -
    -
    -
    -
    -
    -
    -
    -

    0
    TAX ON GAIN ON IMMOVABALE PROPERTY
    TAX YEAR 2020

    FOR OPEN PLOT


    PURCHASE PRICE - GAIN ON TRANSACTION -

    SELLING PRICE - PERCENTAGE GAIN TAXABLE 100 %

    HOLDING PERIOD - AMOUNT TAXABLE -

    ATL STATUS ACTIVE TAX LIABILITY -

    FOR CONSTRUCTED PROPERTY


    PURCHASE PRICE - GAIN ON TRANSACTION -

    SELLING PRICE - PERCENTAGE GAIN TAXABLE 100 %

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