At Jobzlelo, Rent Tax Calculator is available for Individuals or Companies who are paying taxes to government on monthly basis. More, It is simple and easy to use and calculate accurate results as per Latest Tax Year 2024 – 2025.

Rent Tax Calculator: Make Simpler Tax Computation for Individuals and Company Owners

Overview:

Rent tax calculation in Pakistan is an important part of personal expense planning but it is a lot time taking and difficult for most of the individuals who are working 9 – 5 jobs and companies. More, this Rent Income Tax Calculator makes easy the procedure by delivering a simple detail of tax labilities as per Monthly Rent Income, Monthly Tax, Rent After Tax, Yearly Rent Income, Yearly Tax, Yearly Rent Income After Tax and Chart. By adding related information, individual can receive quickly accurate outcomes. In this article, we will understand more about function of a rent tax calculator, its benefits and major characteristics that make it a unique tool for company and personal tax planning.

What is Rent Tax Calculator Pakistan?

This Rent tax calculator is made by Jobzlelo team which is totally adherence the laws and regulations as per Tax Year 2024 – 2025, 2023 – 2024, 2022 – 2023 under Income Tax Ordinance 2001. Further, it can be used to compute the tax amount of individuals and companies owe to the government on monthly deductions basis as per TY 2024 – 2025, 2023 – 2024, 2022 – 2023. Moreover, it is made to support persons, taxpayers and companies to get information about Monthly Rent Income, Monthly Tax, Rent After Tax, Yearly Rent Income, Yearly Tax, Yearly Rent Income After Tax, to help companies and businesses in evaluation of correct tax withholding on rent.

This FBR tax calculator can be used as taxpayers can insert their monthly rent income in Input Box above, select Type between Individual or Company whichever is suitable then select Latest Tax Year after Type option, and click on Calculate Button in end. In second, tax calculator delivers 7 results but most importantly estimate monthly rent Tax deduction and yearly rent tax deduction.

Major Characteristics of an Income tax Calculator on Rent:

This rent tax calculator usually involve the following characteristics:

Monthly Rent Income:

An income which are earned by the person or company on monthly basis for their premises, land, property, office, building etc.

Monthly Tax:

This tax is calculated as per FBR laws and deduct on monthly basis by the individual or company.

Rent After Tax:

It is indicated that remaining you are receiving after the deduction of income tax on rent monthly basis.

Yearly Rent Income:

It can be defined as an income earn by the individual or a company in a latest tax year.

Yearly Tax:

It is indicated that Rent income tax which is calculated on yearly income and result as a yearly income tax and deduction on monthly basis by the company.

Yearly Rent Income After Tax:

It can be defined as remaining earning of an individual or company receive on yearly basis after the deduction of yearly income tax.

Chart:

It displays the split between tax and rent income.

How this Rent Tax Calculator Works?

Following are the steps this Rent tax calculator adheres below:

Enter Monthly Rent Income details:

Users can enter their correct monthly Rent details and this calculator will directly calculate its annual rent income automatically.

Apply Exemptions and other Deductions: Users can only enter Gross Rent because we are assumed that all exemptions already applied on the entered amount.

Choose Type:

Individual or company owners can select their suitable category to calculate tax on Rent.

Determine Rent Tax Slabs by Tax Years:

 Users can select the latest tax year to calculate the correct in current year and individual can also calculate previous tax year’s calculations by using the option of Tax Year in calculator.

Let’s break down the Rent Slabs Tax rate by year which is included in Rent Tax Calculator:

Rent Tax Slab for the Tax Year 2024 – 2025:

• Rent Annual Income is under PKR 300,000 – Tax rate is 0%.
• Rent Annual Income is under PKR 300,000 – PKR 600,000 – Income Tax rate is 5% of the amount exceeding PKR 300,000.
• Rent Annual Income is under PKR 600,000 – PKR 2,000,000 – Income Tax rate is PKR 15,000 + 10% of the amount exceeding PKR 600,000.
• Rent Annual Income is exceeds PKR 2,000,000 – Income Tax rate is PKR 155,000 + 25% of the amount exceeding PKR 2,000,000.
• In case of companies, rent income of immovable property – Income Tax is 15% of gross amount.
•  

Rent Tax Slab for the Tax Year 2023 – 2024:

• Rent Annual Income is under PKR 300,000 – Tax rate is 0%.
• Rent Annual Income is under PKR 300,000 – PKR 600,000 – Income Tax rate is 5% of the amount exceeding PKR 300,000.
• Rent Annual Income is under PKR 600,000 – PKR 2,000,000 – Income Tax rate is PKR 15,000 + 10% of the amount exceeding PKR 600,000.
• Rent Annual Income is exceeds PKR 2,000,000 – Income Tax rate is PKR 155,000 + 25% of the amount exceeding PKR 2,000,000.
• In case of companies, rent income of immovable property – Income Tax is 15% of gross amount.

Rent Tax Slab for the Tax Year 2022 – 2023:

• Rent Annual Income is under PKR 300,000 – Tax rate is 0%.
• Rent Annual Income is under PKR 300,000 – PKR 600,000 – Income Tax rate is 5% of the amount exceeding PKR 300,000.
• Rent Annual Income is under PKR 600,000 – PKR 2,000,000 – Income Tax rate is PKR 15,000 + 10% of the amount exceeding PKR 600,000.
• Rent Annual Income is exceeds PKR 2,000,000 – Income Tax rate is PKR 155,000 + 25% of the amount exceeding PKR 2,000,000.
• In case of companies, rent income of immovable property – Income Tax is 15% of gross amount.

Note: In case non-filers, tax on rent income will doubled like 5% for filers and 10% for non-filers, 15,000 for filers and 30,000 for non-filers.

Calculation of Rent Tax:

Users can press calculate button after entering correct information about their Rent eventually receive accurate results.

Interpretation of Results:

Users will receive detail form of results, including Monthly Rent Income, Monthly Tax, Rent After Tax, Yearly Rent Income, Yearly Tax, Yearly Rent Income After Tax and Chart to understand their estimated rent income and tax.

Conclusion:

This Rent tax calculator in Pakistan is a priceless and helpful online resource for individuals, companies and businesses. More, it is easy and simple to use to calculate complex rent tax computation in much lesser time. Further, it provides assistance for an individuals or companies to get precise image of their rent income, allowing effective financial and rent tax planning. However, if you are interested to know about your monthly net rent or you are ready to prepare for tax season that’s why Rent tax calculator is here to help you and save your time as well as giving relaxation and comfort of mind through its steadfast, trustworthy, correct forecasts.  

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Frequently Asked Questions