[Salary info]
Nippon Signal Co., Ltd. Dhaka Office
Cp-7, Project office, Block # I, Sonargoan Janapath Road, Diabari, Uttara, Dhaka-1230.
Date | 25/Nov/21
Salary breakdown for new employee
SL# | Name of the employee | Nationality | Designation | Joining Date | Gross Salary | Basic Salary (60%) of gross | Other Benefits in BDT | Total Salary
House Rent Allowance (30%) of gross | Medical Allowance (6%) of gross | Conveyance Allowance (4%) of gross
1 | MR. MAHARGHA GOSH | Indian | Installation Manager | 140,000 | 90,000 | 30,000 | 12,000 | 8,000 | 140,000
[tax]
MR. MAHARGHA GOSH
Installation Manager
E-TIN #
Nippon Signal Co. Ltd.
Calculation of total taxable income and withholding income tax liability therefrom
For the year ended 30 June 2022 | Jioning date | 11-Apr-19
Income year 2021-2022 | Ending of probation period | 12-Jul-19
Assessment year 2022-2023
Particulars | Taka | Taka
Basic salary | 1,080,000
(fully taxable)
House rent allowance | 360,000
Less: exempted | 300,000 | 60,000
(50% of basic or Tk. 25,000 per month whichever is lower)
Conveyance allowance | 96,000
Less: exempted up to Tk. 30,000 | 30,000 | 66,000
Medical allowance | 144,000
Less: exempted | 108,000 | 36,000
(10% of basic or TK 120,000 whichever is lower)
Total taxable income | 1,242,000 | 1,540,000
Tax calculation: | Slab | Rate | Income tax
On first | Tk. | 300,000 | @ | 0% | -
On next | Tk. | 100,000 | 5% | 5,000
On next | Tk. | 300,000 | 10% | 30,000
On next | Tk. | 400,000 | 15% | 60,000
On next | Tk. | 142,000 | 20% | 28,400
Gross tax liability | Tk. | 1,100,000 | 123,400
Tax required to be deducted from July'2021 to June'2022 | 123,400 | 8682
Monthly tax deduction would be Tk. | 10,283 | 10,283
per month | Total
Salary breakup
Basic salary | 90000 | 1,080,000
House rent allowance | 30000 | 360,000
Medical allowance | 12000 | 144,000
Conveyance allowance | 8000 | 96,000
140,000 | - | 1,680,000
Notes: | 140,000
1. Tax calculation has been made at rates provided in the Finance Act, 2021;
2. Assessee has been considered as resident in Bangladesh; that he must stay more than 182 days from work permit days to 30 June 2022. Otherwise tax rate will be 30% on total payment per month.
3. Salary structure has been confirmed by Nippon Signal Co. Ltd.;
4. If any other allowance is given to employee than computation will be revised and;
5. We have computed the withholding income tax liability based on the infromation provided by you.