FBR Business Income tax calculator 2022-23

This is the page for income tax calculator for business class. If you are a businessman and you want to see how much tax you have to pay on your business income then here is the easiest method to find it out.

Tax Calculator for Individuals and Associations of Persons other than Salaried Individuals


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Income tax calculator for salaried class

Reading the complete article will give you thorough understanding on the tax matters of FBR.

Contents

Income tax for business class

All the citizens earning with different sources have to pay the tax on their income.

The rates of tax for the business class are different from the rates on salaried class.


The numbers of slabs for salaried class are seven, whereas the total slabs for the business class are eight.

This page gives the complete detail of the tax deduction on your annual income.

We provide easy-to-use calculator for our users.

This gives you the complete formula of tax deduction quite unlike any other income tax calculator.

By that way you are able to understand the method by which your income is taxed.

Apart from this you will learn the slab differences here on this page, that helps educate the people about their tax matters.

If you want to know complete step-by-step method of how to file income tax return online you better go to our page, Filing income tax return step-by-step method.

Business income tax in some cases are submitted on quarterly bases.

What is income tax calculator for business class 2022-23

Income tax calculator is particularly designed for the business class.

There are income tax calculators but they are only for the salaried class.

Distinctive features of income tax calculator

Our calculator is different from Geo’s on account of the following features;

1. Our tax calculator is detailed one. It gives you the complete formula how your tax is calculated by FBR

2. Once you click on “Calculate my tax” button you will get the information of your tax slab.

3. You have to give the figure instead of monthly income, because annual income gives you the exact figure of your tax instead of monthly income.

Income tax slabs for businessmen and salaried class

Income tax slabs for the business class are eight.

They are as follows:

1. You income is taxable from Rs.600,000.

2. Those having income from Rs.600,000 to Rs.800,000 have 5% tax on the amount exceeding Rs.600,000.

3. People earning within the range of Rs.800,000 to Rs.1,200,000 have to pay 12.5% tax on the amount exceeding Rs.800,000 along with Rs.10,000 fixed tax.

4. Businessmen earning Rs.1,200,000 to Rs.2,400,000 have 17.5% tax on the amount exceeding the lowest figure of this slab (Rs.1,200,000). They have to pay additional Rs. 60,000 as a fixed tax.

5. On the income Rs.2,400,000 to Rs. 3,000,000 you have to pay 22.5% tax on the amount exceeding Rs.2,400,000 along with Rs.270,000 as a fixed tax.

6. On the income Rs.3,000,000 to Rs. 4,000,000 you have to pay 27.5% tax on the amount exceeding Rs. 3,000,000 along with Rs.405,000 as a fixed tax.

7. On the income Rs. 4,000,000 to Rs. 6,000,000 you have to pay 32.5%tax on the amount exceeding Rs. 4,000,000 along with Rs. 680,000 as a fixed tax.

8. On the income Rs. 6,000,000 and above you have to pay 35% tax on the amount exceeding Rs.6,000,000 along with Rs. 1330000 as a fixed tax.

See the the tax slabs for salaried class.

Income tax for business formula

The formula for the income tax for business is different from salaried class.

If you want to see the difference you better either go to tax calculator for salaried class and tax calculator for business class for comparison purposes.

You can see have the comparative study from above mentioned slabs too.

Frequently asked questions

People also ask the following questions.

Q. How much is business tax in Pakistan?

In Pakistan business tax is based on eight different income slabs. In order to see the tax slabs on business you have to go on tax slabs detail.

Q. How do you calculate business taxable income?

In order to calculate business taxable income you have to visit the tax slabs for business class. Now see in which slab does your income fall and calculate your tax according to the details mentioned there. There is also the shot way for this purpose. Just go to tax calculator for business class, enter your income and click on “Calculate my tax” button.

Q. What is the tax slab for business income?

Here you can see the latest tax slab for business income.

Q. How is tax calculated in Pakistan?

There are two following categories of tax and they are calculated differently:

1. Tax on salary income

2. Tax on business income

If you want to see the difference you should visit tax slabs.

The final word

Our tax calculator for business class has the following qualities:

1. It is latest according to 2022-23 tax rates by FBR

2. Easy to use, just enter your income and click on “Calculate my tax” button

3. Detailed, along with the figure of the tax on your income you can see the complete formula of tax deduction applied on your income.