[Changed Tax Calculation]
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 | Reconcile Area
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 | 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 | 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 | 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 | 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 | 430,800 | -
Festival Bonus | 350,000 | 156,000 | 75,600 | 60,000 | 54,000 | 49,200 | 50,400 | 37,200 | 75,600 | 908,000 | 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.
360,015
[Changed Salary Structure]
Sl.No. | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
Name | 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 of 01 Month | No. of Month taken for calculation | Total Taxable amount for 12 month
Designation | Manager | Assistant Manager | Staff | Assistant | Quality Management | Quality Management | Quality Management | Quality Management | Production Coordinator
Joining Date | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 1/10/18 | 1/9/19
Basic Salary | 105,000 | 78,000 | 37,800 | 30,000 | 27,000 | 24,600 | 25,200 | 18,600 | 37,800 | 384,000 | 4,608,000
House Rent | 30,000 | 30,000 | 18,900 | 15,000 | 13,500 | 12,300 | 12,600 | 9,300 | 18,900 | 160,500 | 1,926,000
Conveyance | 2,800 | 5,000 | 2,520 | 2,000 | 1,800 | 1,640 | 1,680 | 1,240 | 2,520 | 21,200 | 254,400
Medical Allowance | 10,500 | 7,800 | 3,780 | 3,000 | 2,700 | 2,460 | 2,520 | 1,860 | 3,780 | 38,400 | 460,800
Performance Bonus | 26,700 | 9,200 | 35,900 | 430,800
Total of 01 Month | 175,000 | 130,000 | 63,000 | 50,000 | 45,000 | 41,000 | 42,000 | 31,000 | 63,000 | 640,000 | 7,680,000
Before Increment
Reporting Month of Calculation | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | Total of 12 Month
Basic Salary | 1,260,000 | 936,000 | 453,600 | 360,000 | 324,000 | 295,200 | 302,400 | 223,200 | 453,600 | 4,608,000
House Rent | 360,000 | 360,000 | 226,800 | 180,000 | 162,000 | 147,600 | 151,200 | 111,600 | 226,800 | 1,926,000
Conveyance | 33,600 | 60,000 | 30,240 | 24,000 | 21,600 | 19,680 | 20,160 | 14,880 | 30,240 | 254,400
Medical Allowance | 126,000 | 93,600 | 45,360 | 36,000 | 32,400 | 29,520 | 30,240 | 22,320 | 45,360 | 460,800
Performance Bonus | 320,400 | 110,400 | - | - | - | - | - | - | - | 430,800
Total of 09 Month | 2,100,000 | 1,560,000 | 756,000 | 600,000 | 540,000 | 492,000 | 504,000 | 372,000 | 756,000 | 7,680,000
1,650,000
350000 | 156000 | 75600 | 60000 | 54000 | 49200 | 50400 | 37200 | 75600
2,000,000
[Bonus]
Sl.No. | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
Name | 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
Designation | Manager | Assistant Manager | Staff | Assistant | Quality Management | Quality Management | Quality Management | Quality Management | Production Coordinator
Joining Date | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 01/10/2018 | 1/10/18 | 1/9/19
Eid-Ul-Adha | 175,000 | 78,000 | 37,800 | 30,000 | 27,000 | 24,600 | 25,200 | 18,600 | 37,800 | 454,000
Eid-Ul-Fitr | 175,000 | 78,000 | 37,800 | 30,000 | 27,000 | 24,600 | 25,200 | 18,600 | 37,800 | 454,000
Total | 350,000 | 156,000 | 75,600 | 60,000 | 54,000 | 49,200 | 50,400 | 37,200 | 75,600 | 908,000
`
[Revised Salary]
SL NO. | NAME | DESIGNATION | ACCOUNT NUMBER | NET PAYABLE
1 | Md.Abidur Rahman | Manager | 2132219019250 | 175,000
2 | Robin Borua | Assistant Manager | 2132213019249 | 130,000
3 | Mohammad Asaduzzaman Khan | Staff | 2132216019253 | 63,000
4 | Md.Mossadequl Haque | Assistant | 2132212019257 | 50,000
5 | Md.Jamal Hossain | Quality Management | 2132215019254 | 45,000
6 | Didarul Alom | Quality Management | 2132218019251 | 41,000
7 | Sihab Ahmed | Quality Management | 2132211019258 | 42,000
8 | Md.Kamrul Hasan | Quality Management | 2132217019252 | 31,000
9 | Muhammad Eftakhar Uddin | Production Coordinator | 2132211021015 | 63,000
Total | 640,000