Ahmad Farrukh
Shares will be sold to employee of the company which have 10 years of service with the com
Market value of share 2,500
Employees 1,500
Right to purchase share 150
Rest amount to purchase share 1,350
1,500
Mr. Muhammad Yaseen
Purchased Rights 100
Price per right 150
Total Amount Paid 15,000
Rights Sold out 25,000
Gain 10,000
Cost of Share
Amount Paid at time of Purchase of Right 15,000
Amount Paid at time of Purchase of Share 135,000
Amount added in salary 100,000
250,000
rs of service with the company
Thursday, June 30, 2022
Tuesday, August 30, 2022
Mr. Muhammad Yaseen
Purchased Rights 100
Price per right 150
Thursday, June 30, 2022 Total Amount Paid 15,000
Saturday, July 30, 2022 Paid rest amount 135,000
Income from Salary Total Amount Paid 150,000
Fair Market Value 250,000
Gain / Saving 100,000
Thursday, June 30, 2022
###
Income from Salary
Gratuity
Provident Fund
Pension
Gratuity
Gratuity = Current Salary * no of years served in the company
3,750,000 250,000 15
Type of Gratuity Taxation
Govt. Gratuity Fund Fully Exempt
Approved / Registered Gratuity Fund Fully Exempt
Un-Approved / Un-Registered Gratuity Fund exempt upto lower of:
a
b
Gratuity Scheme Introduced Board it exempt upto 300,000
Salay Income 2,500,000
Gratuity 3,750,000
6,250,000
Less: Exempt Gratuity 75,000
Taxable Income 6,175,000
75,000 75,000 75,000
50% of the gratuity received 1,875,000 50,000
75,000 50,000
rest is taxable
Provident Fund
Every Month there is a deduction from employee's salary against provident fund
320,000 you use to pay tax on gross salary
Less:
Income Tax 15,000
EOBI 230
Provident Fund 6,500 7,500 14,000
21,730
Net Salary 298,270
t provident fund
Type of Provident Fund
Govt. Provident Fund
Approved / Registered Provident Fund
Un-Approved / Un-Registered P. Fund
Medical Allowance upto 10% of basic salary
any perquisite given by employer agaisnt which employee will not have to bear any extra cost
Taxation
Fully Exempt
Fully Exempt
employee share is exempt rest is taxable
h employee will not have to bear any extra cost
Pension is exempt from tax
if a person is receiving more than 1 pension
higher one will be exempt from tax a
rest will be taxable b
c
if you are a senior citizen above age of 60
a
b
c
170,000 exempt
120,000 taxable
50,000 taxable
170,000 exempt
120,000 exempt
50,000 exempt
Monthly Basic salary 280,000
No of Month 12
Annual Basic Salary 3,360,000
medical allowance 10% of basic salary 336,000
Annual Gross Salary 3,696,000
Less: Exempt Medical Allowance 336,000
Taxable Salary 3,360,000
Monthly Basic salary 280,000
No of Month 12
Annual Basic Salary 3,360,000
medical allowance 18% of basic salary 604,800
Annual Gross Salary 3,964,800
Less: Exempt Medical Allowance upto 10% of basic salary 336,000
Taxable Salary 3,628,800
Monthly Gross salary and includes medical allowance
No of Month
100 Annual Gross Salary
10 Exempt from Tax medical allowance 10% of basic salary
110 Annual Basic Salary
Taxable Salary
if both are being provided
Medical Allowance fully taxable
Medical Facility exempt from tax
18.00%
10.00%
280,000 Basic Salary 100.00%
12 Medical Allowance 10.00%
3,360,000 110.00%
305,455
3,054,545 10.00%
3,054,545
Health & Safety
Foreign Source Income
Resident Taxable
Non Resident exempt
Resident
Non Resident
Salary Income
Tax Deducted by Employer
Salary Income
Tax Deducted by Employer
Pakistan Source Income
Taxable
Taxable
july 150,000 Pakistan taxable
august 150,000 Pakistan taxable
september 150,000 Pakistan taxable
october 150,000 Pakistan taxable
november 150,000 Pakistan taxable
december 150,000 Pakistan taxable
january 150,000 Pakistan taxable
february 150,000 Pakistan taxable
march 750,000 Saudi Arabia exempt
april 750,000 Saudi Arabia exempt
may 750,000 Saudi Arabia exempt
june 750,000 Saudi Arabia exempt
4,200,000
Foreign Source Income Pakistan Source Income
Taxable Taxable
exempt Taxable
from UK From Pakistan
350,000 250,000
50,000 25,000
300,000 225,000
Exempt from Tax Taxable
from UK From Pakistan
350,000 250,000
- 25,000
350,000 225,000
Taxable Taxable
