Optimistic Law

Associate
Tax Calculator for Salary Income 2010-11
Employee Name

Designation Age Under 60 Years 1

Department Profession Others 2

Taxable Income For The Year 2009-10 1170000

Annually TAX Calculation Annually Tax Credit / Adjustment For

Total Annual Taxable Income for the Year 1170000 Credits Items
Tax Rate for the Year 10 Charitable donation
Total Tax payable for the Tax year 117000 Investment in Listed Shares
AFTER MARGINAL TAX RELIEF Contribution to approved pension Fund Annual contribution
Amount on the maximum of the slab 1049999 Interest Paid On loans for purchase or construction of House
Tax payable on the maximum of the slab 9.00 94499.91 Withholding Adjustment For the Y
marginal increase maximum of the slab 120001 Tax Deducted by Employer
Rate of Marginal Relief % 40.0 On telephone bill
Tax Payable on Marginal relief 48000 Along with motor vehicle Tax
Total Tax Payable 142500 On cash withdrawals from banks
Tax Payable Without Marginal Relief 117000 On registration of new Car/Jeep
Rebate
Less : Rebate for Senior Citizen 0 Tax Calculation For Motor Vehicle
Less : Rebate for Senior Teacher 0 Usage of Motor Vehicle Only Private Use 2
With Holding/Tax Credit Adjustment Cost of Motor Vehicle 1
Value of Motor Vehicle

Less: Withholding Taxes 0 Vehicle used by employee from July, 2010

Less: Tax Credits 0 This amount shell be added employee's taxable income

TAX PAYABLE WITH RETURN 117000

Tax Calculation For Interest Free Loan
Loan Amount
5%
 Interest Rate 5% 5
Loan Received on July, 2010

12 1 1
Tax Calculation for services of a housekeeper, driver, gar
or other domestic assistant.
IF Yes√

11 Housekeeper from July, 2010 1

12 Housekeeper from July,12010

13 Housekeeper from July,12010

1 4 Housekeeper from July,12010

This amount shell be added employee's taxable income
 Male
Over 60
Under
Years 60 Years
Female

Sub-Section 2 of Section 12 Income Tax Ordinance

Salary means any amount received by an employee from any employment, whether of a
capital nature, including -
(a) any pay, wages or other remuneration provided to an employee, including leave pay,
Teacherovertime
lieu of leave, / Researcher
payment, bonus, commission, fees, gratuity or work
Others
condition supplements (such as for unpleasant or dangerous working conditions);
(b) any perquisite, whether convertible to money or not;
(c) the amount of any allowance provided by an employer to an employee including a co
dit / Adjustment For the Year
subsistence, rent, utilities, education, entertainment or travel allowance, but shall not
Amount Credit include any allowance solely expended in the performance of the employee’s duties of e
0 (d) the amount of any expenditure incurred by an employee that is paid or reimbursed b
0 employer, other than expenditure incurred on behalf of the employer in the performance
0 employee’s duties of employment;
0
Adjustment For the Year

Motor Vehicle If Yes √

Office &
se 10% Private Use 1% July, 2010
Only Private
Vehicle FALSE Use 2% August, 2010
010 1 to December, 2010 6 6 3% September, 2010
ncome 0 4% October, 2010
Value of rent 5% November, 2010
Monthly
erest Free Loan IF Yes √ FALSE MotorbyVehicle
paid 6% December, 2010
No. of Installment 0 0 employer 7% January, 2011
 Bench Mark Rate 11% 0 0 8% February, 2011
Taxable Amount 0 0 0 9% March, 2011
10% April, 2011
usekeeper, driver, gardener FALSE Housekeeper 11% May, 2011
assistant. Monthly salary paid
by employer Driver June, 2011
to June, 2011 12 12 0 Gardner
to June, 2011 12 12 0 Other
to June, 2011 12 12 0
to June, 2011 12 12 0
ncome 0 0
ce
ether of a revenue or

eave pay, payment in

s);

ding a cost of living,

all not
uties of employment;
bursed by the
formance of the
 Income Tax Slab Rates
From Up to Tax Rate %
0 300,000 0
300,001 350,000 0.75
350,000 400,000 1.5
400,000 450,000 2.5
450,000 550,000 3.5
550,000 650,000 4.5
650,000 750,000 6
750,000 900,000 7.5
900,000 1,050,000 9
1,050,000 1,200,000 10
1,200,000 1,450,000 11
1,450,000 1,700,000 12.5
1,700,000 1,950,000 14
1,950,000 2,250,000 15
2,250,000 2,850,000 16
2,850,000 3,550,000 17.5
3,550,000 4,550,000 18.5
4,455,000 20
 Marginal Relief
Rate Amount
20 550000 Upto
30 1050000 Upto
40 2250000 Upto
50 4550000 Upto
60 4550000 Exceed