3 Practical Tips to Reduce Your Salary Tax Burden
Binte Zafar
Founder TaxationPk? | CA Finalist | Empowering you with Taxation Knowledge & Services in Pakistan
This article explores practical ways to potentially reduce your tax liability. Remember, tax laws can change, so consulting a professional is recommended for specific advice.
Tip 1: Maximize Medical Allowance Exemption
FBR offers a 10% medical allowance exemption on your basic salary. This means 10% of your basic salary is tax-free.
Example:
Action:
Tip 2: Utilize Fuel Cards Strategically
Action:
Tip 3: Manage Advance Tax Payments
Example:
Action:
Additional Points:
By understanding these strategies and discussing them with your employer, you might be able to optimize your tax situation and potentially reduce your tax burden.
This article was published at Understanding Taxes on Income from Salary in Pakistan
Finance Manager - IT Sector: Specialist in Payroll Processing, Bookkeeping , Corporate Tax, Financial Reports , Budgeting and Cash Flows
5 个月Aoa, our company reimburse OPD medical expense on actual, Can still we distribute our payroll sheet according to 10% medical allowance?
looking for better opportunity
8 个月hey, can you pls share the section under which fuel cards are exempt from tax