Tamurakoma & Co., Ltd.
Computation of Income and Tax Liability
Income year: 2019-2020
Assessmnet year: 2020-2021
Ashma Akter
TIN Number
Income from Salary:
Basic Salary (For the month from October'19-June'20) 947,700
House rent allowance 225,000
Less: Exempt (50% of basic) or (Tk. 25,000 per month) whichever is lower 225,000
-
Conveyance allowance 22,500
Less: Exempt up to 30,000 22,500
-
Medical allowance 90,000
Less: Exempt (10% of basic) or Tk. 120,000 whichever is lower 90,000
-
Performance bonus 294,300
Festival Bonus 170,000
Other Allowance -
Total Taxable Income of Salary 1,412,000
Taxability Check TRUE
Tax Calculation:
On 1st Tk. 300,000 @ Nil -
On next Tk. 400,000 @ 10% 40,000
On next Tk. 500,000 @ 15% 75,000
On next Tk. 600,000 @ 20% 42,400
On next Tk. 3,000,000 @ 25% -
On next Tk. Balance Amount @ 30% -
A. Gross tax liability 157,400
Rebate on Investment Allowance:
25% of total income Tk. 353,000
or Actual investment Tk. 0% 500,000
or Tk. 15,000,000 1.5 Crore
Maximum Limit ( Whichever is lower ) 353,000
B. Investment Tax Rebate (15% or 10%) 52,950
C. Net Tax Liability (A-B) 104,450
Unpaid Tax /Due Tax 104,450
D. Tax already Paid -
Unpaid Tax /Due Tax for 09 months 104,450
Calculating Month 9
Per Month 11,606
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 Ashma Akter
Designation QC Adviser
Joining Date 1/10/2019
Confirmation Date
Basic Salary 947,700
House Rent 225,000
Conveyance 22,500
Medical Allowance 90,000
Performance bonus 294,300
Other Allowance -
Festival bonus 170,000
Total 1,749,500
Reporting Month of
Calculation Ashma Akter
Basic Salary 105,300
House Rent 25,000
Conveyance 2,500
Medical Allowance 10,000
Performance bonus 32,700
Other Allowance -
Total 175,500
Reporting Month of
Calculation Ashma Akter
Basic Salary
House Rent
Conveyance
Medical Allowance
Performance bonus
Other Allowance
Total
Tamurakoma & Co., Ltd.
Break up of Salary
Break up of Salary