………... Co. Ltd. ID #
XXX
Computation of Income & Tax thereon
If monthly salary Tk. 40,000 Based on
Assessment year 2016-2017
Particulars Taka Taka
Basic Salary 24,000 12 288,000
House Rent 12,000 12 144,000
Less: Exempted 300,000
(50% of basic or Tk. 25,000 per month whichever is lower)
Conveyance 5% of Gross Salary 2,000 12 24,000
Less: Exempted up to Tk. 30,000 30,000
Medical allowance 5% of Gross 2,000 12 24,000
Less: Exempted 120,000 -
(10% of basic or Tk. 120,000 yearly whichever is lower)
Bonus - -
Total taxable income 288,000
Tax calculation:
First Tk. 250,000 @ Nil
Balance Tk. 38,000 @ 10% 3,800
Gross tax liability without considering Investment 3,800
Minimum tax 5,000
Notes:
1. Tax calculation has been made at rates provided in the Finance Bill, 2015.
2. Assessee has been considered as resident in Bangladesh.
3. It has been assumed that medical allowance is actually incurred.
4. If any other allowance given to employee than computation will be revised again.