Tax payer ABC

Tax year
Income from salary Nots Total Rs Exempted Rs Taxable Rs.
Basic salary 40000*12 480,000 - 480,000
Free accomodation 360000 162,000 - 162,000
Car provided for personal use 10%*700,000 70,000 - 70,000
Concessional loan 3000000*(10%-8%) 60,000 - 60,000
Medical allowance 50,000 48,000 2,000
Flying allowance 200,000 200,000 -
Special Allawance 5,000 5,000 -
Dearness allowance 12,000 - 12,000
Total Income from salary 786,000
Computation of tax liability: -
5%(780000-600000) 9,300
-
-
-
-
-
-
-
-
-
Tax payer ABC
Tax year
Income from salary Nots Total Rs Exempted Taxable Rs.
Basic salary 234,000 - 234,000
Free accomodation 105,300 105,300 - 105,300
Bonus 38,000 - 38,000
Special pay 36,000 - 36,000
Conveyance allowance 18,000 - 18,000
Medical bill reimbursed 24,000 24,000 -
Special Allawance -
Dearness allowance -
Total Income from salary 431,300
Zakat paid 11,300
Net taxable income 420,000

-
-
-
-
-
-
Income from property
Annual rental 47,543,000
Deductions:
Repair and maintinance 9,508,600
Legal expenses 6,050,000
Insurance premium 1,477,500
Property tax 5,422,300
Shareof rent HBFC 3,600,000
Administrative chrages 1,901,720
Total deduction 27,960,120
Total taxable income from property 19,582,880
Income from business 75,056,000
Total taxable income 94,638,880
Tax @29% 27,445,275
Tax withheld
Tax payer ABC
Tax year
Income from salary Nots Total Rs Exempted Taxable Rs.
Basic salary 2,340,000 - 2,340,000
Free accomodation 1,053,000 1,053,000 - 1,053,000
Bonus 585,000 - 585,000
Special pay 300,000 - 300,000
Conveyance allowance 180,000 - 180,000
Medical bill reimbursed 24,000 24,000 -
Total Income from salary 4,458,000
Zakat paid 48,000
Net taxable income 4,410,000
Computation of tax liabiity:
Tax upto 3500,000 370000
Tax on (4410000-3500000) 182,000
Total tax liability 552,000

Tax credits
Donation 62,585
Contribution to approved pension 23,782
Share of public listed co 110,400

Net tax payable 355,233

Donation
Actual 500,000
30% taxable income 1,323,000

Pension:
Actual 190,000
20% taxable income 882,000

Shares:
Actual 1,000,000
20% taxable income 882,000
2,000,000

0
 1 2 3 4 5 6
August September October NovemberDecember January
Output tax 1000 1500
Input tax 1200 1100
Previous unadjusted 300 50
Adjustable 900 1350