TOYOSHIMA & CO., LTD.
Computation of Income and Tax Liability
Income year 2020-2021
Assessmnet year 2021 - 2022 1 2 3 4 5 6 7 8 9 10
Name of Employees Md.Abidur
Rahman Robin Barua
Mohammad
Asaduzzaman
Khan
Md.Mosaddequl
Haque Md.Jamal Hossain Didarul Alom Sihab Ahmed Md.Kamrul
Hasan
Muhammad
Eftakhar Uddin Total
TIN Number
Income from Salary:
Basic salary:
For the month from Jul '20 - Jun '21 1,260,000 936,000 453,600 360,000 324,000 295,200 302,400 223,200 453,600 4,608,000
House rent allowance 360,000 360,000 226,800 180,000 162,000 147,600 151,200 111,600 226,800 1,926,000
Less: Exempt (50% of basic) or (Tk. 25,000 per month) whichever is lower 300,000 300,000 226,800 180,000 162,000 147,600 151,200 111,600 226,800 1,806,000
60,000 60,000 - - - - - - - 120,000
Conveyance allowance 33,600 60,000 30,240 24,000 21,600 19,680 20,160 14,880 30,240 254,400
Less: Exempt 30,000 30,000 30,000 24,000 21,600 19,680 20,160 14,880 30,000 220,320
3,600 30,000 240 - - - - - 240 34,080
Medical allowance 126,000 93,600 45,360 36,000 32,400 29,520 30,240 22,320 45,360 460,800
Less: Exempt (10% of basic) or Tk. 120,000 whichever is lower 120,000 93,600 45,360 36,000 32,400 29,520 30,240 22,320 409,440
6,000 - - - - - - - 45,360 51,360
Performance Bonus 320,400 110,400 - - - - - - - 430,800
Festival Bonus 350,000 156,000 75,600 60,000 54,000 49,200 50,400 37,200 75,600 908,000
Total Taxable Income of Salary 2,000,000 1,292,400 529,440 420,000 378,000 344,400 352,800 260,400 574,800 6,152,240
Taxability Check TRUE TRUE TRUE TRUE TRUE TRUE TRUE FALSE TRUE
Tax Calculation:
On 1st Tk. 300,000 @ Nil - - - - - - - - - -
On next Tk. 100,000 @ 5% 5,000 5,000 5,000 5,000 3,900 2,220 2,640 5,000 33,760
On next Tk. 300,000 @ 10% 30,000 30,000 12,944 2,000 17,480 92,424
On next Tk. 400,000 @ 15% 60,000 60,000 120,000
On next Tk. 500,000 @ 20% 100,000 38,480 138,480
On next Tk. Balance Amount @ 25% 100,000 100,000
Gross tax liability 295,000 133,480 17,944 7,000 3,900 2,220 2,640 - 22,480 484,664
Rebate on Investment Allowance:
(25% of total income Tk. 500,000 323,100 132,360 105,000 94,500 86,100 88,200 65,100 143,700 1,538,060
or actual investment Tk. 100% 500,000 323,100 132,360 105,000 94,500 86,100 88,200 65,100 143,700 1,538,060
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 1.5 Crore 1.5 Crore
Whichever is lower 500,000 323,100 132,360 105,000 94,500 86,100 88,200 65,100 143,700 1,538,060
Base test of Investment Allowance (U/S - 44)
whichever is lower X 15% or 10% 50,000 48,465 19,854 15,750 14,175 12,915 13,230 9,765 21,555 205,709
Net Tax Liability 245,000 85,015 (1,910) (8,750) (10,275) (10,695) (10,590) (9,765) 925 278,955
Unpaid Tax /Due Tax 245,000 85,015 5,000 5,000 5,000 5,000 5,000 5,000 360,015
TDS already Paid
Unpaid Tax /Due Tax for 12 Months payable from July 2020 to June 2021 245,000 85,015 5,000 5,000 5,000 5,000 5,000 - 5,000 360,015
Calculating Month 12 Month 12 12 12 12 12 12 12 12 12
Monthly deducted by Company 20,417 7,085 417 417 417 417 417 417 30,004
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.