(11-23-2014, 09:52 AM)genius007ufo Wrote: Firstly if a person has 50,000 salary PM then how much tax he has to pay, according to me the amount of tax will be 833 pm but I asked the same question with a tax practitioner he told me the amount will be 667, so I would like to ask from any concerned person which amount we have to pay in the government treasury.

Secondly what is the tax exemption amount for salaried person is it 400,000 or 450,000.

please help

Ans: Tax Laws give us 10 % Exemption in Medical Allowance, So we will gain this opportunity,now our per month salary is 45,000 Per Month ( 90 % of 50,000)

= 45,000 * 12 = 540,000 Yearly Income

= 0 - 400,000 = Exempt

= 400,000 to 750,000 = 10 %

= 140,000 * 10 % = 14,000 / 12 = 1166 Per Month