Income tax calculator 2023-24

Income tax calculator Pakistan

• For income below Rs600,000 per year (Rs 50,000 per month) — no tax will be deducted
• Those earning Rs600,000 to Rs 1.2 million per year (Rs50,000 to Rs 100,000 per month) will pay a tax of 2.5% of the amount exceeding Rs 600,000
• Income within a range of Rs 1.2 million to Rs 2.4 million (Rs100,000 to Rs 200,000 per month) will pay Rs 15,000 plus 12.5% of the amount exceeding Rs 1.2 million
• FROM Rs2.4 million to Rs3.6 million a year (Rs 200,000 to Rs 300,000 per month) will be charged at Rs 165,000 plus 22.5% of the amount exceeding Rs2.4 million
• From Rs3.6 million to Rs 6 million a year (Rs300,000 to Rs500,000 per month) will be charged at Rs405,000 plus 27.5% of the amount exceeding Rs3.6 million
• People with an annual income of Rs 6m to Rs 12 million (Rs500,000 to 1,000,000 per month) will be charged at Rs1.005 million plus 35.5% of the amount exceeding Rs 6 million
• In the last slab, individuals earning more than Rs 12 million (more than Rs1,000,000 per month) a year will be charged at Rs2.955 million plus 37.5% of the amount exceeding Rs 12 million

 You can submit the Tax return by anyone of the following way :

Income Tax Return online

Iris.fbr.gov.pk

1. What informations /data/ details required for filing income tax return 2022 on iris fbr.gov.pk?

All the following documents are required for a period from :

01- July 2021 to 30 - June 2022

1) income statement/ salary slips 

2) Other Sources of income, for example:

a) Agriculture Income

b) Rental Income

c) Foreign Remittance

d) Silent Partner Income 

3) Bank account/s statements 

Balance on the 30Th june is important to enter in the form. 

4) Income Tax deduction Certificate/ Slips/ Sources

5) Withholding tax deduction source, for example 

Electricity Bill, Telephone bill, Mobile internet bill etc.

6) Utilities Expenditure Statements:

a) Electricity Bill

b) Telephone Bill

c) Sui Gas Bill

d) Internet Bill

e) Water Bill

f) Cable Bill

7) Educational Expenses

Slips/ Online Transfer screen grabs etc

8) Asset Details

a) Immovable properties

b) Investment

c) Gold, Ornament, 

d) Prize Bonds

e) Saving Certificates

f) moveable Asset (Vehicle/motor car, motorcycle, etc) 

g) House hold Precious Items 

(Furniture etc)

h) Cash in hand (non investment money) 

i) Asset purchased on 

IRIS Portal

FBR / IRIS Income tax return:

A tax return is a record of your Income, Expenses, Assets, Loans, Gifts, Property, Investments, Bonds, and related data summitted to the FBR (Federal Board of Revenue) each year before the last date. 

WHAT IS THE LAST DATE TO FILE THE INCOME TAX RETURN 2022 on Iris.fbr.gov.pk? 

 30th September, 2022 is the last date to return the Income tax 2022.

How to submit the Income tax Return 2022?

2) Second way to submit the income tax return is by filling the online here at iris fbr portal form at the iris portal. FBR has uploaded  the income tax return form for the Salaried, Association of Persons(AOPs), Business Individuals, and Companies. 

Video Tutorial for filing the income tax Rerun?

Online verification portal?

Active Tax Payers List 2022

What informations /data/ details required for  filing income tax return 2022?

1) income statement/ salary slips 
2) Other Sources of income, for example:

3) Bank account/s statements
4) Income Tax deduction Certificate/ Slips/ Sources

5) Withholding tax deduction source, for example 
Electricity Bill, Telephone bill, Mobile internet bill etc.

6) Utilities Expenditure Statements:

7) Educational Expenses
Slips/ Online Transfer screen grabs etc

8) Asset Details

 On 29th June 2022 new tax rates on salary class budget 2022-2023

Revised tax rates and budget has been approved from the National assembly after the formal passing of the budget by the MNAs.the IMF has revoked the tax relief given to the Salaried class and asked even more than the previous year income tax to maintain the balance in the total budget for the fiscal year 2022-2023 for the national exchequer.  

Revised Pay scale Notification 2022 Federal Government click here