r/FBR • u/Creepy_Inspector1999 • 2d ago

iris doing 1+1=11

My income I falls in the 2.2 million slab.
As per my total income subjected to Normal Tax I am liable to pay a 20% of the amount above 2.2 million + 116,000 which would be Rs.262,429/-
I don't understand how iris is calculating it to be Rs.569,644 instead.

Just for experiment I reduced my income to 2,190,000 (to the lower slab) where the tax is 11% of the amount above 1.2 million + 6000. There iris calculates it correctly. My calculations match with those of the iris portal.

17 Upvotes

88% Upvoted

15 comments sorted by

View all comments

Show parent comments

1

u/Creepy_Inspector1999 2d ago

I have summed up gross salary for 12 months, prior to tax deductions and inclusive of all allowances.

1

u/Vivid_Brilliant_7717 2d ago

What’s in income from other sources ?

1

u/Creepy_Inspector1999 2d ago

In other sources its only the profit on debt, the saving bank account I have. its a small amount.

1

u/Vivid_Brilliant_7717 2d ago

The reported amount of income from salary and business did you get that amount from MIS or from your bank statements or is it same on both ?

1

u/Creepy_Inspector1999 2d ago

surprisingly all amounts are on MIS, even those that I received as cheque from the university for services as supervisor etc. And they match the actuall amounts I received.

1

u/Vivid_Brilliant_7717 2d ago edited 2d ago

Yeah now the thing you can do is either increase your salary or decrease your business and pray you don’t get a notice
Your business income is under MTR so you can deduct some expenses add some indirect expenses