Tuesday, July 3, 2012

Latest Pakistan Income Tax Calculator 2012-2013

Update: Sunday, July 22, 2012


Now income tax calculator for Pakistan 2012 - 2013 is available on Android Play Store. Special thanks to all who made suggestion & asked for mobile version of tax calculator.

Download Android App Income Tax Calculator Pakistan




Update: Friday, July 20, 2012 
Updated to revised 6 tax slabs, special thanks to "Syed Shah" for sharing revised information.

Govt. of Pakistan in 2012-13 budget issued new income tax regulations. So, we have been looking for quick and easy calculation of income taxes, I went through the idea to develop a very simple application which takes monthly salary and out the annual & monthly tax information. See the following screenshot attached.



You can download the executable application, there's no need to install anything else. Just download and run the income tax calculator 2012-2013.

Thanks - for Feed backs & suggestions. 

Special Thanks to Farrukh Zahoor who give the idea to include Other Income amount which are for bonus(s) and allowances.

Download: 

Direct & Fast: 

Backup Mirrors


Reactions:

24 comments:

  1. Dear Faisal,

    Good work for making tax calculator.

    Suggestion:
    You should add another field that will allow user to input if they have earned additional amount for the year. This will make exact taxable amount and tax calculations will be correct in case of additional income, bonus, allowance etc.

    Regards,
    Farrukh Zahoor

    ReplyDelete
  2. That's cool. Quick Great work on the suggestion.

    ReplyDelete
  3. You'r welcome. I am thinking to make a mobile app for Android? does it sounds good?

    ReplyDelete
  4. Nice Tool Faisal, but it looks like some of the amounts in the higher slab are being calculated incorrectly or maybe I'm calculating it wrong.

    With an annual income of 2,400,000, the tax comes out to be 227,500. But the tax calculator gives an amount of 230,000.

    And yes, you should make this app for android as well. Keep it up!

    ReplyDelete
    Replies
    1. Ahmed, I look into the calculation and it looks okay to me. Can you please tell me your calculation way/method/formula so I can cross verify and if found your way perfect I will really accommodate it.

      Delete
    2. Sure. Here's what I'm doing. I'll start with the third slab for salaried individuals:-

      Monthly Income = 85,000
      Yearly = 1,020,000

      1,020,000 - 750,000 = 270,000 taxable amount
      (270,000 * 10)/100 = 27,000 10% of taxable amount
      27,000 + 17,500 = 44,500 total tax due per annum

      The calculator pulls up the same amount.

      Now we do the same for the fourth Salary Slab:

      Monthly Income = 200,000
      Yearly = 2,400,000

      2,400,000 - 1,500,000 = 900,000 taxable amount
      (900,000 * 15)/100 = 135,000 15% of taxable amount
      135,000 + 92,500 = 227,500 total tax due per annum

      The calculator gives an amount of 230,000.

      Am I calculating this properly?

      Delete
    3. The document I find saying fixed amount is 95000 but to you its 92500 that's creating difference.

      See the comment below by "Syed Shad", he just give me the latest slabs information. According to him,

      From Rs.1,500,001 to Rs. 2,000,000
      Rs. 95,000 + 15% of the amount exceeding Rs. 2,000,000
      From Rs. 2,000,001 to Rs.2,500,000

      So, what's correct 92500 or 95000

      Delete
  5. Dear Faisal

    Kindly update the salary tax calculator as new slab which has been extended to 6 x slabs

    ReplyDelete
    Replies
    1. Thanks Syed Shah.

      Please, can you give me the latest updated details, so I can put them into the application.

      Delete
    2. Dear Faisal thanks for your quick response.

      I do appreciate your efforts for the calculator. Below is the revised slabs table for your further input in the calculator.

      Clause (1A) of Part-I of the First Schedule: Rate of income tax for salaried person

      Rate of income tax rationalized for the Tax Year 2013 w.e.f. July 01, 2012 as under:

      Total Income
      Rates of Income Tax Approved by National Assembly
      Up to Rs.400,000
      0%
      From Rs.400,001 to Rs. 750,000
      5% of the amount exceeding Rs.400,000
      From Rs.750,001 to Rs. 1,500,000
      Rs. 17,500 + 10% of the amount exceeding Rs. 750,000
      From Rs.1,500,001 to Rs. 2,000,000
      Rs. 95,000 + 15% of the amount exceeding Rs. 2,000,000
      From Rs. 2,000,001 to Rs.2,500,000
      Rs. 175,000 + 17.5% of the amount exceeding Rs. 2,000,000
      Above Rs. 2,500,000
      Rs. 420,000 + 20% of the amount exceeding Rs. 2,500,000

      Delete
    3. Thanks Syed Shah... and can you please also provide latest tax details for Individual Income tax payers?

      Delete
    4. Monthly Income = 266,667/-
      Yearly Income =3,200,000/-

      As per current slab, Annual tax liability comes to Rs.560,000/- while as per you calculator it is Rs.452,500.70/-

      Slab no.6 is going to apply.

      Regards

      Syed Ali Shah

      Delete
    5. Yes, I will update calculator with slab-5 & slab-6 changes and publish it today.

      Delete
    6. Thanks a lot Faisal. God Bless you

      Regards

      Delete
    7. Sorry to bother you Faisal

      I am waiting for the updated calculator

      Regards

      Delete
    8. Its Updated Now... Please download the latest version. You will V1.1 in new calculator's title

      Thanks

      Delete
    9. Calculate 135000 (manually) and check with software, I am bit doubtful for this one.

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    10. what's you give monthly & total annual income?

      Delete
  6. i need info regarding the tax filing of previous years ... please guide me how can i submit the tax returns for the past 8-9 years? I am a salaried individual...

    ReplyDelete
  7. Dear Faisal, do you have any calculator for Tax Return amount? as in if I put yearly tax then the calculator shows me how much I would get back. appreciate if you kindly reply this.. and good work brother..

    ReplyDelete
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    ReplyDelete