Tamurakoma & Co., Ltd.
Computation of Income and Tax Liability
Income year: 2019-2020
Assessmnet year: 2020-2021
Ashma Akter Md Azmin MD SHAFIQUL
ISLAM
Md Sakil Ahmed
Patwary
MD. ISMAIL
HOSSAIN
Md. Khurshed
Alam
TIN Number 562153404033 284615444557 180602425295 715079788641 159499780840 799908533617
Income from Salary:
Basic Salary (For the month from October'19-June'20) 947,700 342,000 300,000 330,600 189,000 249,730
House rent allowance 225,000 171,000 150,000 165,300 94,500 124,865
Less: Exempt (50% of basic) or (Tk. 25,000 per month) whichever is lower 225,000 171,000 150,000 165,300 94,500 124,865
- - - - - -
Conveyance allowance 22,500 22,800 20,000 22,040 12,600 16,649
Less: Exempt up to 30,000 22,500 22,800 20,000 22,040 12,600 16,649
- - - - - -
Medical allowance 90,000 34,200 30,000 33,060 18,900 24,973
Less: Exempt (10% of basic) or Tk. 120,000 whichever is lower 90,000 34,200 30,000 33,060 18,900 24,973
- - - - - -
Performance bonus 294,300 - - - - -
Festival Bonus 170,000 23,987 21,041 52,000 13,003 16,253
Other Allowance - - - - - -
Total Taxable Income of Salary 1,412,000 365,987 321,041 382,600 202,003 265,983
Taxability Check TRUE TRUE TRUE TRUE FALSE FALSE
Tax Calculation:
On 1st Tk. 300,000 @ Nil - - - - - -
On next Tk. 100,000 @ 5% 5,000 3,299 1,052 4,130 - -
On next Tk. 300,000 @ 10% 30,000 - - - - -
On next Tk. 400,000 @ 15% 60,000 - - - - -
On next Tk. 500,000 @ 20% 52,400 - - - - -
On next Tk. Balance Amount @ 25% - - - - - -
A. Gross tax liability 147,400 3,299 1,052 4,130 - -
Rebate on Investment Allowance:
25% of total income Tk. 353,000 91,497 80,260 95,650 50,501 66,496
or Actual investment Tk. 0% 500,000 - - - - -
or Tk. 15,000,000 1.5 Crore 1.5 Crore 1.5 Crore 1.5 Crore 1.5 Crore 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) 94,450 3,299 1,052 4,130 - -
Unpaid Tax /Due Tax 94,450 5,000 5,000 5,000 - -
D. Tax already Paid 58,030 6,310 4,000 6,200 - 2,142
Unpaid Tax /Due Tax for 09 months 36,420 (1,310) 1,000 (1,200) - (2,142)
Calculating Month 4 - 4 - - -
Per Month 9,105 #DIV/0! 250 #DIV/0! #DIV/0! #DIV/0!
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