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Solution 2

Miss Ayesha's taxable income for the year 2026 amounts to Rs. 11,835,000, leading to a total tax liability of Rs. 4,725,990 after deductions and surcharges. Additionally, her tax calculation under FTR & STR shows a taxable income of Rs. 6,700,000 with a tax liability of Rs. 1,005,000. After accounting for tax deductions, the total tax payable is Rs. 105,000.

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5 views2 pages

Solution 2

Miss Ayesha's taxable income for the year 2026 amounts to Rs. 11,835,000, leading to a total tax liability of Rs. 4,725,990 after deductions and surcharges. Additionally, her tax calculation under FTR & STR shows a taxable income of Rs. 6,700,000 with a tax liability of Rs. 1,005,000. After accounting for tax deductions, the total tax payable is Rs. 105,000.

Uploaded by

hafizhanan006
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© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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Miss Ayesha

Resident Status: Resident


NTN-123456-7
Tax Year: 2026
Computation of Taxable income and Tax Liability
Particulars Rs. Rs.
Income from Salary
Salary received 4,000,000
Bonus recieved 500,000
4,500,000
Income from Salary (A) 4,500,000
Income from property
Rent received 2,000,000
Add: Security deposit (500,000/10) 50,000
Property tax paid by tenant 200,000
Rental of a plot 400,000
Rent chargeable to tax 2,650,000
Less: Property tax (200,000)
Less: Repair expense (20% x 2,250,000) (450,000)
2,000,000
Income from property (B) 2,000,000
Income from other sources
Additional payment received against
income tax refund 50,000
Profit on debt received (other than banking institute) 400,000
Loan received from his friend in cash 200,000
Rented out Plant and machinery
Rent received 5,000,000
less:
Repair allowance - 4,450,000
Depreciation (550,000)
(3,000,000 x 15%)+(1,000,000 x 10%) 4,450,000

Tution fee received


Gross payment = 400,000
250,000
Less: Payment for teaching = (150,000)
Net Income 250,000
5,350,000
Income from other sources (C) 5,350,000
Total Income(A+B+C) 11,850,000
Less: Zakat (15,000)
Taxable Income 11,835,000
Calculation of Tax Liability under NTR
Particulars Rs.
Upto 5,600,000 1,610,000
Amount Exceeding 5,600,000
(11,835,000 - 5,600,000) X 45% 2,805,750
Tax Liability 4,415,750
Less: Credit for Donation to Approved Institution
4,415,750/11,835,000 x 320,000*
*Lower of
(i) 320,000
(ii) 30% x 11,835,000 = 3,550,500
(119,395)
Tax Liability 4,296,355
Add: surcharge @10% 429,635
Tax Liability 4,725,990
Less: Tax deducted
Employer (600,000)
Tenant (300,000)
Advance tax (250,000)
Add: Tax payable under FTR and STR 105,000
Total Tax Payable 3,680,990

Miss. Ayesha
Resident Status: resident
Tax year: 2026
Calculation of Taxable income and Tax Liability FTR & STR
Particulars Taxable Income Rate Tax Liability Tax Deducted Tax Payable
Dividend
1,000,000 15% 150,000 (150,000) -
(850,000/85%)
Prize Bond (4,250,000/85%) 5,000,000 15% 750,000 (750,000) -
Bank profit - HBL 700,000 15% 105,000 - 105,000
Tax Payable under FTR 6,700,000 1,005,000 (900,000) 105,000

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