At Jobzlelo, Salary Tax Calculator is available for Individuals 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.

Salary Tax Calculator: Make Simpler Tax Computation for Individuals and Employees

Overview:

Income 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 and employees who are working 9 – 5 jobs. More, this Salary Income Tax Calculator makes easy the procedure by delivering a simple detail of tax labilities as per Monthly Income, Monthly Tax, Salary After Tax, Yearly Income, Yearly Tax, Yearly 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 salary tax calculator, its benefits and major characteristics that make it a unique tool for business and personal tax planning.

What is Salary Tax Calculator Pakistan?

This Salary 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 employees 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 employees to get information about Monthly Income, Monthly Tax, Salary After Tax, Yearly Income, Yearly Tax, and Yearly Income After Tax, to help employers in evaluation of correct tax withholding on salary.

This FBR tax calculator can be used as taxpayers can insert their monthly salary in Input Box above, select Latest Tax Year after Input Box, and click on Calculate Button in last. In seconds, tax calculator delivers 7 results but most importantly estimate monthly Tax deduction and yearly tax deduction.

Major Characteristics of an Income tax Calculator on Salary:

This salary tax calculator usually involve the following characteristics:

Monthly Income:

An income which are earned by the person or an individual on monthly basis.

Monthly Tax:

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

Salary After Tax:

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

Yearly Income:

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

Yearly Tax:

It is indicated that Salary income tax which is calculated on yearly income and result as an yearly income tax and deduction on monthly basis by the employers.

Yearly Income After Tax:

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

Chart:

It displays the split between tax and income and easy to understand your personal financial position.

How this Salary Tax Calculator Works?

Following are the steps this Salary tax calculator adheres:

Enter Salary details:

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

Apply Exemptions and other Deductions: Users can only enter Gross Salary because we are assumed that all exemptions like Medical Exemptions or deduction like EOBI, PF, loan etc. already applied on the entered amount.

Determine Salary Tax Slabs by Tax Years:

 Users can select the latest tax year to calculate the accurate 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 Salary Slabs Tax rate by year which is included in Salary Tax Calculator mentioned below:

Salary Tax Slab for the Tax Year 2024 – 2025:

• Salary Annual Income is under PKR 600,000 – Tax rate is 0%.
• Salary Annual Income is under PKR 600,000 – PKR 1,200,000 – Income Tax rate is 5% of the amount exceeding PKR 600,000.
• Salary Annual Income is under PKR 1,200,000 – PKR 2,200,000 – Income Tax rate is PKR 30,000 + 15% of the amount exceeding PKR 1,200,000.
• Salary Annual Income is under PKR 2,200,000 – PKR 3,200,000 – Income Tax rate is PKR 180,000 + 25% of the amount exceeding PKR 2,200,000.
• Salary Annual Income is under PKR 3,200,000 – PKR 4,100,000 – Income Tax rate is PKR 430,000 + 30% of the amount exceeding PKR 3,200,000.
• Salary Annual Income is exceeds PKR 4,100,000 – Income Tax rate is PKR 700,000 + 35% of the amount exceeding PKR 4,100,000.

Salary Tax Slab for the Tax Year 2023 – 2024:

• Salary Annual Income is under PKR 600,000 – Tax rate is 0%.
• Salary Annual Income is under PKR 600,000 – PKR 1,200,000 – Income Tax rate is 2.5% of the amount exceeding PKR 600,000.
• Salary Annual Income is under PKR 1,200,000 – PKR 2,400,000 – Income Tax rate is PKR 15,000 + 12.5% of the amount exceeding PKR 1,200,000.
• Salary Annual Income is under PKR 2,400,000 – PKR 3,600,000 – Income Tax rate is PKR 165,000 + 22.5% of the amount exceeding PKR 2,400,000.
• Salary Annual Income is under PKR 3,600,000 – PKR 6,000,000 – Income Tax rate is PKR 435,000 + 27.5% of the amount exceeding PKR 3,600,000.
• Salary Annual Income is exceeds PKR 6,000,000 – Income Tax rate is PKR 1,095,000 + 35% of the amount exceeding PKR 6,000,000.

Salary Tax Slab for the Tax Year 2022 – 2023:

• Salary Annual Income is under PKR 600,000 – Tax rate is 0%.
• Salary Annual Income is under PKR 600,000 – PKR 800,000 – Income Tax rate is 5% of the amount exceeding PKR 600,000.
• Salary Annual Income is under PKR 800,000 – PKR 1,200,000 – Income Tax rate is PKR 10,000 + 12.5% of the amount exceeding PKR 800,000.
• Salary Annual Income is under PKR 1,200,000 – PKR 2,400,000 – Income Tax rate is PKR 60,000 + 17.5% of the amount exceeding PKR 1,200,000.
• Salary Annual Income is under PKR 2,400,000 – PKR 3,000,000 – Income Tax rate is PKR 270,000 + 22.5% of the amount exceeding PKR 2,400,000.
• Salary Annual Income is under PKR 3,000,000 – PKR 4,000,000 – Income Tax rate is PKR 405,000 + 27.5% of the amount exceeding PKR 3,000,000.
• Salary Annual Income is under PKR 4,000,000 – PKR 6,000,000 – Income Tax rate is PKR 680,000 + 32.5% of the amount exceeding PKR 4,000,000.
• Salary Annual Income is exceeds PKR 6,000,000 – Income Tax rate is PKR 1,330,000 + 35% of the amount exceeding PKR 6,000,000.

Calculation of Salary Tax:

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

Interpretation of Results:

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

Conclusion:

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

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Frequently Asked Questions