Information

Taxable Income means Total Income reduced by donations qualifying straight for deductions and certain deductible allowances.

Total Income is aggregate of Income chargeable to tax under each head of income.

Under the Income Tax Ordinance, 2001, all incomes are broadly divided into following five heads of income:  

1. Income from Salary
2. Income from Property
3. Income from Business
4. Income from Capital Gains
5. Income from Other Sources

Input tax is the tax paid by registered person on the taxable goods and services purchased or acquired by him. This also includes the sales tax paid on imports.

It is the sales tax charged and levied on the sale or supply of goods or services on which sales tax is leviable.