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Accountancy Forum The Profession Tax v
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how we can calculate income tax rate

 
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how we can calculate income tax rate
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#1
07-03-2010, 02:56 AM

how we can calculate income tax ?

kindly tell us
thanks
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#2
07-03-2010, 08:04 PM
Simple sa concept hay, gross profit may say admissible expanse mines kar k taxable income nikalyn or us k hisab say slab rate ki madad say tax nikal layn.

Jo incomes FTR may aati hay un ka jo tax rate hay wo gross amount par laga kar tax nikal layn
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#3
07-03-2010, 08:37 PM
sir jee. thoora sa aur explane karday .ek choti si example k sat .
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#4
07-03-2010, 08:46 PM
Bhai ik kam karo na aap hi koi problem day don na may solve kar don ga na
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#5
07-03-2010, 09:50 PM
ABC (pvt) ltd.

sales 25 lacs
COGS 10 lacs
<b>gross profit</b> <b> 15 lacs</b>
<u>operating expense</u>
administaraction expense 25,000/-
rent expense 20,000/-
selling expense 30,000/-
salary expense 4 lacs
<b>total </b> <b> 4.75lac</b>
<b>net profit 10.25 lacs</b>

Zakat 5000/-
Workers Welfare Fund 10,000/-
Medical Expenses 3,000/-
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#6
07-03-2010, 10:13 PM
60. Zakat.- (1) A person shall be entitled to a deductible allowance for the amount of any Zakat paid by the person in a tax year under the Zakat and Ushr Ordinance, 1980 (XVIII of 1980).
(2) Sub-section (1) does not apply to any Zakat taken into account under sub-section (2) of section 40.
(3) Any allowance or part of an allowance under this section for a tax year that is not able to be deducted under section 9 for the year shall not be refunded, carried forward to a subsequent tax year, or carried back to a preceding tax year.
60A. Workers’ Welfare Fund.- A person shall be entitled to a deductible allowance for the amount of any Workers’ Welfare Fund paid by the person in tax year under Workers’ Welfare Fund Ordinance, 1971

1025000 may say zakat 5000 or Worker Welfare fund 10000 bhi mines kar dayn

Bacha 1010000
Ye jo medical expense hay jo employees ko diya gya hay to ye bhi mines kar dayn 3000

Ab bacha 1,007,000 is par 35% income tax lagy ga, han agar small company hay to 20% lagy ga
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#7
07-04-2010, 01:00 AM
Where the taxable does not exced 3lac. Rate of tax 0%

Where the taxable does exceds 3lac but does not exceed 4lac Rate of tax 7.5%

Where the taxable does exceds 4lac but does not exceed 5lac Rate of tax 10%

Where the taxable does exceds 5lac but does not exceed 6lac Rate of tax 12.5%

Where the taxable does exceds 6lac but does not exceed 8lac Rate of tax 15%

Where the taxable does exceds 8lac but does not exceed 10lac Rate of tax 17.5%

Where the taxable does exceds 10lac but does not exceed 13lac Rate of tax 21%

Where the taxable income exceed 13lac Rate of tax 25%

____________________________________________________________________
i have this table according to this table .
21% tax lagay ga.

par aap 20% ya 35% boolrahay hai

ap k pass koi aur table hai ?
ya ya 20% kaisay bana wo batday
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#8
07-04-2010, 09:04 PM
fastone bhai,,,,

ap nay company ka naam ABC (Pvt)Ltd likha tha na,

to Private limited company k Fixed rate hay 35% , or agar aap ki company small company ki definition par pori utarti hay to fixed rate 20% ho ga,,,,

Jo tabil aap nay likha hay na, ye Individual business k liye hay 2010-11 ka.
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#9
07-04-2010, 09:17 PM
oh ic thanks bro.
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#10
07-04-2010, 10:56 PM
U welcome ji
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