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    Ali Akand Asif
    This document summarizes the capital gains and tax liability calculations for Mr. Hasan and Mrs. J for the 2019-2020 assessment year. For Mr. Hasan, the capital gain amount was calculated as Rs. 1,390,000 with a net tax liability of Rs. 188,480. For Mrs. J, the capital gain amount was Rs. 470,000 with a net tax liability of Rs. 59,010. Both calculations include details of cost of acquisition, sale proceeds, allowable deductions, tax rates, and tax amounts.

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    Example

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    Ali Akand Asif
    74 views8 pages
    This document summarizes the capital gains and tax liability calculations for Mr. Hasan and Mrs. J for the 2019-2020 assessment year. For Mr. Hasan, the capital gain amount was calculated as Rs. 1,390,000 with a net tax liability of Rs. 188,480. For Mrs. J, the capital gain amount was Rs. 470,000 with a net tax liability of Rs. 59,010. Both calculations include details of cost of acquisition, sale proceeds, allowable deductions, tax rates, and tax amounts.

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    This document summarizes the capital gains and tax liability calculations for Mr. Hasan and Mrs. J for the 2019-2020 assessment year. For Mr. Hasan, the capital gain amount was calculated as Rs. 1,390,000 with a net tax liability of Rs. 188,480. For Mrs. J, the capital gain amount was Rs. 470,000 with a net tax liability of Rs. 59,010. Both calculations include details of cost of acquisition, sale proceeds, allowable deductions, tax rates, and tax amounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    74 views8 pages

    Example

    Uploaded by

    Ali Akand Asif
    This document summarizes the capital gains and tax liability calculations for Mr. Hasan and Mrs. J for the 2019-2020 assessment year. For Mr. Hasan, the capital gain amount was calculated as Rs. 1,390,000 with a net tax liability of Rs. 188,480. For Mrs. J, the capital gain amount was Rs. 470,000 with a net tax liability of Rs. 59,010. Both calculations include details of cost of acquisition, sale proceeds, allowable deductions, tax rates, and tax amounts.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    You are on page 1of 8

    Capital Gain

    Assessee: MR. Hasan


    Assesment Year: 2019-2020
    Income Year: 2018-2019
    Income Under " Capital Gain" (Sec31): Taka Taka Taka (a) Taka (b)

    Sale Proceed of Capital Asset or 22,000,000


    FMV at the Time of Tranfer, higher one 20,000,000 22,000,000
    Less- Allowable Deductions
    Expenditure to transfer the asset (Note 2) 440,000
    Cost of Acquisition (Note 3) 10,170,000
    Capital Expenditure for Asset improvement 10,610,000
    Capital Gain 11,390,000 11,390,000
    Less: Renivested Gain to rollover relief 10,000,000 11,390,000
    Capital Gain Asessed (Note 4) 1,390,000 -

    Tax Value of new asset nil 610,000


    Taxable Income
    Income from Interest on Securites(given) 200,000 200,000
    Capital Gain (as calculated above) 1,390,000
    Inome from other Sources (given) 100,000 100,000

    Total Taxable Inome 1,690,000 300,000


    Computation of Tax Liability:
    Taxable Income Amount of Tax
    Income Tier Case (A) Case (B) Rate Case A Case B
    On First Taka 250,000 250,000 0% - -
    On Next Taka 400,000 50,000 10% 40,000 5,000
    On Next Taka 500,000 15% 75,000
    On Next Taka 540,000 20% 108,000
    Total 1,690,000 300,000 223,000 5,000

    Aveage Tax Rate 13.20% 1.67%


    Flat Rate 15.00% 15.00%
    Tax on Capital Gain (13.20% on 1390000) 183,480 0
    Tax on Remaning Tk 300000 will be @regular rate, (500000X10%) 5,000 5,000
    Net Tax Liability 188,480 5,000
    Capital Gain
    Assessee: MRS J
    Assesment Year: 2019-2020
    Income Year: 2018-2019
    Income Under " Capital Gain" (Sec31): Taka Taka

    Sale Proceed of Capital Asset or 20,000,000


    FMV at the Time of Tranfer, higher one 18,000,000 20,000,000
    Less- Allowable Deductions
    Expenditure to transfer the asset (Note 2) 400,000
    Cost of Acquisition (Note 3) 9,130,000
    Capital Expenditure for Asset improvement 9,530,000
    Capiatl Gain
    Less: Renivested Gain to rollover relief
    Capital Gain Asessed (Note 4)

    Income from Interest on Securites(given)


    Capital Gain (as calculated above)
    Inome from other Sources (given)
    Total Taxable Inome
    Taka (a) Taka (b)

    10,470,000 10,470,000
    10,000,000 10,470,000
    470,000 -

    400,000 400,000
    470,000
    100,000 100,000
    970,000 500,000
    Computation of Tax Liability:
    Taxable Income Amount of Tax
    Income Tier Case (A) Case (B) Rate Case A
    On First Taka 300,000 250,000 0% -
    On Next Taka 400,000 50,000 10% 40,000
    On Next Taka 270,000 15% 40,500
    Total 970,000 300,000 80,500

    Aveage Tax Rate 8.30%


    Flat Rate 10.00%
    Tax on Capital Gain (8.30% on 470000) 39,010
    Tax on Remaning Tk 500000 will be @regular rate (200000X10%) 20,000
    Net Tax Liability 59,010
    mount of Tax
    Case B
    -
    5,000

    5,000

    1.67%
    10.00%
    0
    20,000
    20,000
    Beginning raw materials 50,000 30,000
    (+) Raw materials purchased 300,000 200,000
    (-) Ending raw materials 45,000 35,000
    Cost of raw materials used 305,000
    (+) Direct labor (150,000×80%)
    120,000
    Prime cost 425,000
    (+) Manufacturing overhead:
    Indirect labor (150,000×20%)
    30,000 30,000
    Factory depreciation (40,000×70%)
    28000 35,000
    Factory rent 40,000 40,000
    Factory insurance 30,000 30,000
    Factory utilities 20,000 20,000
    Factory supplies 15,000 15,000
    Other factory expenses 15,000 15,000
    Total Manufacturing overhead: 178,000
    Manufacturing cost
    603,000
    (+) Beginning work-in-process
    50,000
    (-) Ending work-in-process
    60,000
    Cost of goods manufactured 593,000
    (+) Beginning finished goods
    55,000
    (-) Ending finished goods
    45,000
    Cost of goods sold 603,000
    (+) Gross profit (20×603,000/(100-20) 150750
    Sales revenue 753,750
    430,000 448,750
    67312.5

    195,000
    120000
    315,000

    185,000

    500,000
    40,000
    50,000

    490,000 —Value added = 753750-305,000 = 448750


    55,000 —VAT = 448,7500×15% = 67313
    45,000
    500,000
    125000
    625,000

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