Tamurakoma & Co., Ltd.
Computation of Income and Tax Liability
Income year: 2019-2020
Assessmnet year: 2020-2021
Shakil Ahmed
TIN Number
Income from Salary:
Basic Salary (For the month from October'19-June'20) 305,100
House rent allowance 152,550
Less: Exempt (50% of basic) or (Tk. 25,000 per month) whichever is lower 152,550
-
Conveyance allowance 20,340
Less: Exempt up to 30,000 20,340
-
Medical allowance 30,510
Less: Exempt (10% of basic) or Tk. 120,000 whichever is lower 30,510
-
Performance bonus -
Festival Bonus 52,000
Other Allowance -
Total Taxable Income of Salary 357,100
Taxability Check
Tax Calculation:
On 1st Tk. 250,000 @ Nil -
On next Tk. 400,000 @ 10% 10,710
On next Tk. 500,000 @ 15% -
On next Tk. 600,000 @ 20% -
On next Tk. 3,000,000 @ 25% -
On next Tk. Balance Amount @ 30% -
A. Gross tax liability 10,710
Rebate on Investment Allowance:
25% of total income Tk. 89,275
or Actual investment Tk. 100% 89,275
or Tk. 15,000,000 1.5 Crore
Maximum Limit ( Whichever is lower ) 89,275
B. Investment Tax Rebate (15% or 10%) 13,391
C. Net Tax Liability (A-B) (2,681)
Unpaid Tax /Due Tax 5,000
D. Tax already Paid -
Unpaid Tax /Due Tax for 09 months 5,000
Calculating Month 9
Per Month 556
Note: 01. Tax has been calculated on the basis of Appointment Letter;
02. Minimum Tax is 5000 for Dhaka (North & South) City corporation;
03. Financial Year: 2019-20;
04. Performance bonus is solely of Net Tax Amount;
05. If salary amount will change the tax also will change accordingly.
Particulars
06. We calculate the tax and we break the salary within the scope of
ITO-1984 so that individual employee can be benefited.
Name Shakil Ahmed
Designation QC
Joining Date 1/10/2019
Confirmation Date
Basic Salary 305,100
House Rent 152,550
Conveyance 20,340
Medical Allowance 30,510
Performance bonus -
Other Allowance -
Festival bonus 52,000
Total 560,500
Reporting Month of
Calculation Shakil Ahmed
Basic Salary 33,900
House Rent 16,950
Conveyance 2,260
Medical Allowance 3,390
Performance bonus
Other Allowance
Total 56,500
Reporting Month of
Calculation Shakil Ahmed
Basic Salary
House Rent
Conveyance
Medical Allowance
Performance bonus
Other Allowance
Total
Tamurakoma & Co., Ltd.
Break up of Salary
Break up of Salary