[Changed Tax Calculation]
Tamurakoma & Co., Ltd.
Computation of Income and Tax Liability
Income year 2020-2021
Assessmnet year 2021 - 2022 | 1 | 2 | 3 | 4 | 5 | 6 | 7
Name of Employees | Ashma Akter | Md Azmin | MD SHAFIQUL ISLAM | Md Sakil Ahmed Patwary | MD. ISMAIL HOSSAIN | Md. Khurshed Alam | Yeasir Arafat | Total | Reconcile Area
TIN Number | 562153404033 | 284615444557 | 180602425295 | 715079788641 | 159499780840 | 799908533617 | 195135405450
Income from Salary:
Basic salary:
For the month from July 2020 - June 2021 | 1,263,600 | 422,400 | 390,000 | 468,000 | 276,000 | 406,800 | 378,000 | 3,604,800 | 3,604,800 | -
House rent allowance | 631,800 | 211,200 | 195,000 | 234,000 | 138,000 | 203,400 | 189,000 | 1,802,400 | 1,802,400 | -
Less: Exempt (50% of basic) or (Tk. 25,000 per month) whichever is lower | 300,000 | 211,200 | 195,000 | 234,000 | 138,000 | 203,400 | 189,000 | 1,470,600
331,800 | - | - | - | - | - | - | 331,800
Conveyance allowance | 84,240 | 28,160 | 26,000 | 31,200 | 18,400 | 27,120 | 25,200 | 240,320 | 240,320 | -
Less: Exempt | 30,000 | 28,160 | 26,000 | 30,000 | 18,400 | 27,120 | 25,200 | 184,880
54,240 | - | - | 1,200 | - | - | - | 55,440
Medical allowance | 126,360 | 42,240 | 39,000 | 46,800 | 27,600 | 40,680 | 37,800 | 360,480 | 360,480 | -
Less: Exempt (10% of basic) or Tk. 120,000 whichever is lower | 120,000 | 42,240 | 39,000 | 46,800 | 27,600 | 40,680 | 37,800 | 354,120
6,360 | - | - | - | - | - | - | 6,360
Performance Bonus | - | - | - | - | - | - | - | -
Festival Bonus | 340,000 | 66,321 | 60,123 | 91,000 | 42,386 | 57,119 | 42,547 | 699,496 | 699,496 | -
Total Taxable Income of Salary | 1,996,000 | 488,721 | 450,123 | 560,200 | 318,386 | 463,919 | 420,547 | 4,697,896
Taxability Check | TRUE | TRUE | TRUE | TRUE | TRUE | TRUE | TRUE
Tax Calculation:
On 1st | Tk. | 300,000 | @ | Nil | - | - | - | - | - | - | - | -
On next | Tk. | 100,000 | @ | 5% | 5,000 | 5,000 | 5,000 | 5,000 | 919 | 5,000 | 5,000 | 30,919
On next | Tk. | 300,000 | @ | 10% | 30,000 | 8,872 | 5,012 | 16,020 | 6,392 | 2,055 | 68,351
On next | Tk. | 400,000 | @ | 15% | 60,000 | 60,000
On next | Tk. | 500,000 | @ | 20% | 100,000 | 100,000
On next | Tk. | Balance Amount | @ | 25% | 86,500 | 86,500
Gross tax liability | 281,500 | 13,872 | 10,012 | 21,020 | 919 | 11,392 | 7,055 | 345,770
Rebate on Investment Allowance:
(25% of total income Tk. | 499,000 | 122,180 | 112,531 | 140,050 | 79,597 | 115,980 | 105,137 | 1,174,475
or actual investment Tk. | 100% | 499,000 | 122,180 | 112,531 | 140,050 | 79,597 | 115,980 | 105,137 | 1,174,475
or Tk. 15,000,000 | 1.5 Crore | 1.5 Crore | 1.5 Crore | 1.5 Crore | 1.5 Crore | 1.5 Crore | 1.5 Crore | 1.5 Crore
Whichever is lower | 499,000 | 122,180 | 112,531 | 140,050 | 79,597 | 115,980 | 105,137 | 1,174,475
Base test of Investment Allowance (U/S - 44)
whichever is lower X 15% or 10% | 49,900 | 18,327 | 16,880 | 21,008 | 11,940 | 17,397 | 15,771 | 151,221
Net Tax Liability | 231,600 | (4,455) | (6,867) | 13 | (11,020) | (6,005) | (8,716) | 194,549
Unpaid Tax /Due Tax | 231,600 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 261,600
TDS already Paid
Unpaid Tax /Due Tax for 12 Months payable from July 2020 to June 2021 | 231,600 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 261,600
Calculating Month | 12 | Month | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12
Monthly deducted by Company | 19,300 | 417 | 417 | 417 | 417 | 417 | 417 | 21,802
Note:
01. Minimum Tax Is 5000 for Dhaka (North & South) City corporation.
02. Financial Year: 2020-2021
03. Other Allowance is solely of Net Tax Amount.
04. If Salary and other benefits will change then tax liability may be changed
261,600
12
21,800
[Changed Salary Structure]
1 | 2 | 3 | 4 | 5 | 6 | 7
Name | Ashma Akter | Md Azmin | MD SHAFIQUL ISLAM | Md Sakil Ahmed Patwary | MD. ISMAIL HOSSAIN | Md. Khurshed Alam | Yeasir Arafat | Total of 01 Month
Designation | Manager | Ast. Merchandiser | Ast. Merchandiser | Merchandiser | Officer | Merchandiser | Ast. Merchandiser
Joining Date | 1/10/19 | 1/9/19 | 1/9/19 | 1/10/19 | 1/10/19 | 20/11/2019 | 10/3/20
Basic Salary | 105,300 | 34,200 | 30,000 | 39,000 | 21,000 | 33,900 | 31,500 | 294,900
House Rent | 52,650 | 17,100 | 15,000 | 19,500 | 10,500 | 16,950 | 15,750 | 147,450
Conveyance | 7,020 | 2,280 | 2,000 | 2,600 | 1,400 | 2,260 | 2,100 | 19,660
Medical Allowance | 10,530 | 3,420 | 3,000 | 3,900 | 2,100 | 3,390 | 3,150 | 29,490
Total | 175,500 | 57,000 | 50,000 | 65,000 | 35,000 | 56,500 | 52,500 | 491,500
After Increament
Basic Salary | - | 35,400 | 33,000 | - | 23,400 | - | - | 91,800
House Rent | - | 17,700 | 16,500 | - | 11,700 | - | - | 45,900
Conveyance | - | 2,360 | 2,200 | - | 1,560 | - | - | 6,120
Medical Allowance | - | 3,540 | 3,300 | - | 2,340 | - | - | 9,180
Total | 59,000 | 55,000 | 39,000 | 153,000
Total of 12 Months
Reporting Month of Calculation | 12 | 12 | 12 | 12 | 12 | 12 | 12 | Total of 12 Month
Basic Salary | 1,263,600 | 422,400 | 390,000 | 468,000 | 276,000 | 406,800 | 378,000 | 3,604,800
House Rent | 631,800 | 211,200 | 195,000 | 234,000 | 138,000 | 203,400 | 189,000 | 1,802,400
Conveyance | 84,240 | 28,160 | 26,000 | 31,200 | 18,400 | 27,120 | 25,200 | 240,320
Medical Allowance | 126,360 | 42,240 | 39,000 | 46,800 | 27,600 | 40,680 | 37,800 | 360,480
Total | 2,106,000 | 704,000 | 650,000 | 780,000 | 460,000 | 678,000 | 630,000 | 6,008,000
[Bonus]
1 | 2 | 3 | 4 | 5 | 6 | 7
Name | Ashma Akter | Md Azmin | MD SHAFIQUL ISLAM | Md Sakil Ahmed Patwary | MD. ISMAIL HOSSAIN | Md. Khurshed Alam | Yeasir Arafat | Total
Designation | Manager | Ast. Merchandiser | Ast. Merchandiser | Merchandiser | Officer | Merchandiser | Ast. Merchandiser
Joining Date | 1/10/19 | 1/9/19 | 1/9/19 | 1/10/19 | 1/10/19 | 20/11/2019 | 10/3/20
Rtion/Basis | Gross | Basic | Basic | Basic | Basic | Basic | Basic
Eid-Ul-Adha | 170,000 | 30,921 | 27,123 | 52,000 | 18,986 | 23,219 | 11,047 | 333,296
Eid-Ul-Fitr | 170,000 | 35,400 | 33,000 | 39,000 | 23,400 | 33,900 | 31,500 | 366,200
Total | 340,000 | 66,321 | 60,123 | 91,000 | 42,386 | 57,119 | 42,547 | 699,496
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