Bank Profit Tax Calculator (Filer vs Non-Filer)
See how much withholding tax the bank deducts from your profit on deposits or savings certificates. Enter your yearly profit, pick filer status, and compare both scenarios to see what becoming a filer saves you.
Side-by-side comparison
| Item | Filer | Non-filer |
|---|
General information only, not tax advice. This is an estimate. Verify the current FBR withholding rate card and talk to a tax consultant about your own case.
How to use
- Enter your total yearly profit on bank deposits or savings certificates.
- Select your filer status and adjust the rates if your bank uses different ones.
- Read the tax deducted, net profit and the yearly saving from becoming a filer.
Note: Tax deducted = yearly profit x rate / 100. Net profit = yearly profit - tax deducted. Yearly filer saving = net profit as filer - net profit as non-filer.
Tips
- File your income tax return to join the Active Taxpayers List before the profit is credited.
- Keep bank profit certificates; you need them when filing your return.
- Compare Islamic and conventional deposit profit rates after tax, not before.
Frequently Asked Questions (FAQ)
How much tax is deducted on bank profit for filers?
The default rate in this tool is 15 percent for filers under Section 151 of the Income Tax Ordinance, but rates are editable because the FBR updates them.
How much tax is deducted on bank profit for non-filers?
The default rate in this tool is 30 percent for non-filers under Section 151. Check the current FBR withholding rate card before filing.
What do I need to enter?
Your yearly profit on deposits in Rs and your filer status. The filer and non-filer rates are editable if the FBR changes them.
What does the side-by-side comparison show?
It shows the tax deducted and net profit for both scenarios, so you can see exactly what becoming a filer saves you each year.
Is withholding tax on bank profit final?
For many taxpayers the bank deducts it at source. Whether it is final or adjustable depends on your tax status and income slab, so confirm with a tax consultant.