Tax Computation of Mr.

A
For the Tax Year 2018

Description Taxable Income

Salary Income:
Basic Salary 1,117,245
Reward 22,062
Bonus 300,000
House Rent Allowance 643,514
Utility Allowance 111,724
Perquisite of Car 55,000
Loan Facility 115,000
Stock Option Benefit 641,175
Salary Income 3,005,720
Tax Payable/(Refundable) 283,501

Tax Management
 Tax Computation of
For the Tax Year

Description Total Exempt

Property Income:
Rent 600,000 -
Forfeited deposit on sale of property - -
Non adjustable Advance 40,000 -
Gross Income from Property (Rent Chargeable to Tax) 640,000 -
Repair charges 20% of RCT (128,000) -
Interest expense (10,000) -
Adjustebale Security - -
Income Tax (6,000) (6,000)
Property Tax (4,000) -
Rent Collection Charges @ 6% (38,400) -
Ground Rent (10,000) -
Net Income from Property 443,600 (6,000)
Tax Liability

Tax Management
Tax Computation of
For the Tax Year

Taxable Income

600,000
-
40,000
640,000
(128,000)
(10,000)
-
-
(4,000)
(38,400)
(10,000)
449,600
2,480

Tax Management
 Year 1st Advance 2nd Advance
1st T 400,000 1 40,000 40,000
2nd T 1,000,000 2 40,000 80,000 1 92,000 92,000
3 40,000 120,000 2 92,000 184,000
4 40,000 160,000 3 92,000 276,000
5 40,000 200,000 4 92,000 368,000
6 40,000 240,000 5 92,000 460,000
7 40,000 280,000 6 92,000 552,000
8 40,000 320,000 7 92,000 644,000
9 40,000 360,000 8 92,000 736,000
10 40,000 400,000 9 92,000 828,000
400,000 10 92,000 920,000

Tax Management
 Tax Computation of Mr. Bashir Ahmed
For the Tax Year 2018

Description Note Company A Company B Taxable Income

Salary Income:
Basic Salary 714,158 572,572 1,286,730
Bonus 150,000 71,800 221,800
House Rent Allowance 258,663 222,746 481,409
Utility Allowance 71,415 57,257 128,672
Perquisite of Car - 55,000 55,000
Leave Encashment 77,783 - 77,783
Medical reimbursement 35,000 25,000 60,000
Salary Income 1,307,019 1,004,375 2,311,394
Tax Liability on normal Salary 57,570
Tax Liability on Ex-gratia payment 1 479,553
Total Tax Liability 537,122
Less: Already tax withheld (270,000) (800,000) (1,070,000)
Tax Payable/(Refundable) (532,878)

Note 1
Tax Year Assessed Income Assessed Tax
2015 1,309,570 269,902
2016 1,545,850 371,255
2017 2,264,940 557,633
Total 5,120,360 1,198,790
Average Rate for 3 years 23.41%

Tax Management
 Tax Computation of Mr. A
For the Tax Year 2018

Description Taxable Income

Salary Income:
Basic Salary 1,117,245
Reward 22,062
Bonus 300,000
House Rent Allowance 643,514
Utility Allowance 111,724
Perquisite of Car 55,000
Loan Facility 115,000
Stock Option Benefit 641,175
Salary Income (i) 3,005,720
Property Income:

Tax Management
Salary Tax Rate:

Sr. No. Taxable Income

1 Where the taxable income does not exceed Rs. 600,000.

2 Where the taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000.

3 Where the taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 1,800,000.

4 Where the taxable income exceeds Rs. 1,800,000 but does not exceed Rs. 2,500,000.

5 Where the taxable income exceeds Rs. 2,500,000 but does not exceed Rs. 3,500,000.

6 Where the taxable income exceeds Rs. 3,500,000 but does not exceed Rs. 5,000,000.

7 Where the taxable income exceeds Rs. 5,000,000 but does not exceed Rs. 8,000,000.

8 Where the taxable income exceeds Rs. 8,000,000 but does not exceed Rs. 12,000,000.

9 Where the taxable income exceeds Rs. 12,000,000 but does not exceed Rs. 30,000,000.

10 Where the taxable income exceeds Rs. 30,000,000 but does not exceed Rs. 50,000,000.

11 Where the taxable income exceeds Rs. 50,000,000 but does not exceed Rs. 75,000,000.

12 Where the taxable income exceeds Rs. 75,000,000.

 Tax Rate

0%

5% of amount exceeding Rs. 600,000.

Rs. 30,000 + 10% of amount exceeding Rs. 1,200,000.

Rs. 90,000 + 15% of amount exceeding Rs. 1,800,000.

Rs. 195,000 + 17.5% of amount exceeding Rs. 2,500,000.

Rs. 370,000 + 20% of amount exceeding Rs. 3,500,000.

Rs. 670,000 + 22.5% of amount exceeding Rs. 5,000,000.

Rs. 1,345,000 + 25% of amount exceeding Rs. 8,000,000.

Rs. 2,345,000 + 27.5% of amount exceeding Rs. 12,000,000.

Rs. 7,295,000 + 30% of amount exceeding Rs. 30,000,000.

Rs. 13,295,000 + 32.5% of amount exceeding Rs. 50,000,000.

Rs. 21,420,000 + 35% of amount exceeding Rs. 75,000,000.

Other than Salary Tax Rate:

Sr. No. Taxable Income

1 Where the taxable income does not exceed Rs. 400,000.
2 Where the taxable income exceeds Rs. 400,000 but does not exceed Rs. 600,000.
3 Where the taxable income exceeds Rs. 600,000 but does not exceed Rs. 1,200,000.
4 Where the taxable income exceeds Rs. 1,200,000 but does not exceed Rs. 2,400,000.
5 Where the taxable income exceeds Rs. 2,400,000 but does not exceed Rs. 3,000,000.
6 Where the taxable income exceeds Rs. 3,000,000 but does not exceed Rs. 4,000,000.
7 Where the taxable income exceeds Rs. 4,000,000 but does not exceed Rs. 6,000,000.
8 Where the taxable income exceeds Rs. 6,000,000.
 Tax Rate
0%
5% of amount exceeding Rs. 400,000.
Rs. 10,000 + 10% of amount exceeding Rs. 600,000.
Rs. 70,000 + 15% of amount exceeding Rs. 1,200,000.
Rs. 250,000 + 20% of amount exceeding Rs. 2,400,000.
Rs. 370,000 + 25% of amount exceeding Rs. 3,000,000.
Rs. 620,000 + 30% of amount exceeding Rs. 4,000,000.
Rs. 1,220,000 + 35% of amount exceeding Rs. 6,000,000.