Optimistic Law Tax Calculator for Salary Income 2011-12 Associates

Employee Name Designation Department Taxable Income For The Year 2011-12 Annually TAX Calculation Total Annual Taxable Income for the Year Tax Rate for the Year Total Tax payable for the Tax year AFTER MARGINAL TAX RELIEF Amount on the maximum of the slab Tax payable on the maximum of the slab marginal increase maximum of the slab Rate of Marginal Relief % Tax Payable on Marginal relief Total Tax Payable Annually Tax Credit / Adjustment For the Year Credits Items Amount Charitable donation Investment in Listed Shares
Contribution to approved pension Fund Annual contribution Interest Paid On loans for purchase or construction of House

Age Profession

1 Under 60 Years
Others

0 0 0 0 0 0 0.0 0 0

0.00

Withholding Adjustment For the Year Tax Deducted by Employer On telephone bill Along with motor vehicle Tax On cash withdrawals from banks On registration of new Car/Jeep Tax Calculation For Motor Vehicle Usage of Motor Vehicle Cost of Motor Vehicle Vehicle used by employee from 1 Office & Private Use 1 Value of Motor Vehicle FALSE
July, 2011 If Yes

Tax Payable Without Marginal Relief

Rebate Less : Rebate for Senior Citizen Less : Rebate for Senior Teacher With Holding/Tax Credit Adjustment Less: Withholding Taxes Less: Tax Credits

0
0 0 0 0

to

June, 2012

This amount shell be added employee's taxable income Tax Calculation For Interest Free Loan No. of Installment
0%

TAX REFUNDABLE

0
Loan Amount Interest Rate Loan Received on 12

IF Yes

1 Bench Mark Rate Taxable Amount 1

July, 2011

IF Yes

Tax Calculation for services of a housekeeper, driver, gardener or other domestic assistant.

IF Yes

11 22 13

Housekeeper Driver Housekeeper

from from from

July, 2011 1 July, 2011 1 July, 2011 1

to June, 2012 12 to June, 2012 12 to June, 2012 12 to June, 2012 12

Housekeeper from July, 2011 1 14 This amount shell be added employee's taxable income

Sub-Section 2 of Section 12 Income Tax Ordinance

Salary means any amount received by an employee from any employment, whether of a revenue or capital nature, including (a) any pay, wages or other remuneration provided to an employee, including leave pay, payment in lieu of leave, overtimeTeacher / Researcher commission, fees, gratuity or work payment, bonus, 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 cost of living, subsistence, rent, utilities, education, entertainment or travel allowance, but shall not include any allowance solely expended in the performance of the employees duties of employment; (d) the amount of any expenditure incurred by an employee that is paid or reimbursed by the employer, other than expenditure incurred on behalf of the employer in the performance of the employees duties of employment;

Male Over 60 Under 60 Years Female Years

Credit 0 0 0 0

If Yes

5% 12 0 12

Office & Private Use Only Private Use

0% 1% July, 2011 2% August, 2011 3% September, 2011 4% October, 2011 5% November, 2011 6% December, 2011 7% January, 2012 8% February, 2012 9% March, 2012 10% April, 2012

June, 2012

IF Yes

11% 0

FALSE 0 0 0

0 0 0

Value of rent Monthly Motor Vehicle paid by employer

Monthly salary paid by employer

FALSE

Housekeeper Driver

11% May, 2012 June, 2012

12 12 12 12 0

0 Gardner 0 Other 0 0 0 1 2 3 4 5 6 7 8 9 10 11 12 0 1 2 3 4 5 6 7 8 9 10 11

Income Tax Slab Rates From Up to Tax Rate % 0 350,000

350,001 400,001 450,001 550,001 650,001 750,001 900,001 1,050,001 1,200,001 1,450,001 1,700,001 1,950,001 2,250,001 2,850,001 3,550,001 4,550,001 400,000 450,000 550,000 650,000 750,000 900,000 1,050,000 1,200,000 1,450,000 1,700,000 1,950,000 2,250,000 2,850,000 3,550,000 4,550,000

0 1.5 2.5 3.5 4.5 6 7.5 9 10 11 12.5 14 15 16 17.5 18.5 20

Marginal Relief
Rate Amount

20 30 40 50 60

550000 Upto 1050000 Upto 2250000 Upto 4550000 Upto 4550000 Exceed