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
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
House rent allowance 631,800 211,200 195,000 234,000 138,000 203,400 189,000 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
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
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
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