WELCOME TO INCOME TAX CALCULATOR -SRI LANKA
Do you want to know? how to calculate taxable income in Sri Lanka?
how to calculate Personal income tax in Sri Lanka?
how to estimate your taxable income?
what ever the question you have in relation to preparing your personal income taxes you are at the right place!
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The income tax calculator is designed to calculate the personal income tax liabilities of persons (professionals) in Sri Lanka. It is capable of handling the calculations automatically once you feed the interface with the necessary data. It saves time and helps you plan out your financial liabilities ,for the future as well. It is more suitable for professionals /Indivuals with with simple tax liabilities to calculate there payable tax amounts.
This income tax calculator is easy to use and can be used for free. It is user friendly and provides an accurate calculation of the income tax liabilities according to the current income tax regulations. It is a reliable and convenient tool to help you with your tax planning.
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What do you need for the computation of your income tax?
Government servants need to have their annual salary particulars with their T10 form audited by the accountant .
For professionals with other income source (private practice/Business etc) need to have their income expenditure balance sheet with annual net income calculated.
For those who are having other income sources( fixed deposit or saving deposit interest incomes)the cumulated gross incomes for the respective yaer.
For those who are having dividend incomes total cumulated income for that particular year(for year ending on 31-Dec-2022 only)
Total WHT tax deductions made for saving/Fixed deposit interest incomes.(for respective years 2022 Q2,Q3,&2023 Q4)
Total payee tax deductions made to your salary (for 2022Q1Q2,Q3 & 2023 Q4 seperately according to T10)
Total Expenditure reliefs (Life insurance premium,Educational expenses,health expenses) pertaining to 2022 Q1,Q2,Q3
Total contributions made to government approved charity (for 2022 only).
Quaterly tax payments made for respective quaters
* When you are preparing your Estimated tax please note
for those who are entitled for a official telephone allowance only 25% of the allowance is taxable ( so you may take this into account when you calculate your annual salary and annual payee tax amount base on your monthly salary ).
When you use the calculator to prepare the tax estimate for your 2023-24 you may uncheck the WHT cage for your interest incomes ( for your Fixed deposits & saving deposits ). WHT tax deductions is allowed to be made during the final tax return.(according to the latest guidelines)
Cost of installation of roof top solar panels can be deducted from your assessible income for a maximum of Rs 600000.00 per assessment year.
ABOUT INCOME TAX CALCULATOR -SRI LANKA
At Income tax calculator -Sri Lanka, our goal always remains the same, no matter what type of client we are working with. Simply put, we strive to give you an accurate picture of your financial situation. Doing so allows you to operate with less stress and more profit.
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