The Pakistan Tehrik-e-Insaf (PTI) government has rolled out its first complete-year budget for the fiscal year 2019-20 amid opposition from other parties.
The fiscal bill is understood to be a tax-heavy budget with a core focus on revenue generation from sales and income taxes.
With the salaried class bearing the brunt, many have been worried if they fall into the taxable income category.
Note that the government has also reduced the taxable income bracket from Rs. 100,000 per month to Rs. 50,000 per month (for salaried people) and Rs. 33,333 for non-salaried individuals.
According to the budget document; if the income of an individual, chargeable under the head of “salary”, exceeds seventy-five percent of his taxable income, an income tax will be applied.
So, if you fall into the taxable category, and are wondering the amount of tax you’ll have to pay on your income every month, don’t worry! We have you covered.
All you have to do is use our simple and easy to use Income Tax Calculator to find out how much taxes you’ll have to pay.
Find The Income Tax Calculator Here
How to Use The Calculator
All you have to do is to put your monthly salary in the “Monthly Income” box and hit the “Calculate” button.
Within a few seconds, you’ll get the details about the amount of monthly tax applied to your income, your salary after tax, yearly income, and the yearly tax you’ll have to pay.