Mr Saqib

Calculation of Taxable Income and Tax Liability

For the Tax year 2021
Salary 9,500,000

Income From Property 700,000

Income from business 800,000

Capital Gain
Private Company Shares 100,000
Gain on Sale of Gold 150,000
Painting Drawing etc 10,000
Gain on sale of House 1,000,000
Gian on Public Company Shares 70,000 1,330,000

Income from Other sources

Dividend Income 170,000x100/85 200,000

Total Income 12,530,000

Less Separate Block Income (1,770,000)
Less Final Tax Regime (200,000)

Income Under Normal Tax Regime 10,560,000

Zakat Paid (100,000)
WWF -
WPF -
Taxable Income 10,460,000
Allowance for Markup on Loan
Actual Amount 700,000
50% of Taxable Income
Rs 2000,000 which ever is lower (700,000)
9,760,000
Donation To NGO Clause 61
Actual Amount 300,000
30% of Taxable Income whichever is lower (300,000)
9,460,000
Childern Education Allowance
As taxable income exceeds 1.5M so not allowed -

Taxable Income 9,460,000

Add Share From AOP for Rate purposes 1,000,000

Taxable Income for Rate Purposes 10,460,000