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Class Practice With Solution

The document discusses income from employment and calculation of taxable income in various scenarios under Bangladesh tax law. It provides examples of unspent travel allowance, employee share schemes, environmental surcharges for multiple cars, and income calculation for a non-resident foreign employee. The document answers 7 problems, providing the tax treatment and calculations for employment income, benefits, and investments in each case.

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32 views3 pages

Class Practice With Solution

The document discusses income from employment and calculation of taxable income in various scenarios under Bangladesh tax law. It provides examples of unspent travel allowance, employee share schemes, environmental surcharges for multiple cars, and income calculation for a non-resident foreign employee. The document answers 7 problems, providing the tax treatment and calculations for employment income, benefits, and investments in each case.

Uploaded by

Ansary Labib
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Income from Employment

Problem 1: [Unspent Travel Allowance]


Mrs. Akter received a total of 3,60,000 Taka from the office for conveyance, travel
and daily allowance out of which 2,50,000 Taka was spent for official purposes and
the rest 1,10,000 Taka was not returned to the office. What will be the taxable
income from this case?

Answer 1:
1,10,000 Taka (Unspent Amount)

Problem 2: [Pick and Drop Service]


Mr. Tanvir works in an MNC. He enjoys a common car facility from the office
where other colleagues also share the common car. What will be the taxable
income out of car facilities in this case?

Answer 2:
No amount will be added to the taxable income for common pick and drop service.

Problem 3: [Employee Share Scheme]


Mr. Monir received 100 shares from his company under employee share scheme.
Face value of the share was 10/share and fair market value was 1000/share. He
spent a total of 40,000 Taka to own these 100 shares. Calculate the amount to be
added as taxable income under income from employment from this case.

Answer 3:
Market value of the shares received (100 Share X 1000 Taka) = 1,00,000
Less: Amount Paid to own the share = (40,000)
Amount to be added with the taxable income: 60,000 Taka

Problem 4: [Employee Share Scheme]


Mr. Azman is an employee of an MNC. He purchased 500 shares of his company
from the market at 200 Taka per share. On 30 June of the Income year, the market
value of the shares was 350 each. What will be his taxable income under the
employee share scheme for this case?
Answer 4:
Nothing will be added.
He purchased it from the market and did not entitle it to it under the employee
share scheme. Additionally, He did not sell these either. So, no capital gain can be
recorded.

Problem 5: [Employee Share Scheme]


Mr. Amzad has become eligible to receive 100 shares from his company under
employee share scheme. Face value of each share was 10 Taka, and the market
value was 1000 Taka each. Mr. Amzad may enjoy this entitlement, or he may
choose to transfer it to others. He did not receive it, rather transferred the right to
buy to Mr. Jashim with a consideration of a total of 20,000 Taka. What will be his
taxable income under the employee share scheme for this case?

Answer 5:
20,000 Taka

Problem 6: [Environmental Surcharge for Having more than one car]


Mrs. Akter has two sedan cars. One is 1500 CC, and the other one is 175 KW Tesla
Car. How to calculate the environmental surcharge in this case?

Answer 6:
Surcharge will be applicable on the second car with higher tax. In this case, 175
KW tesla’s surcharge is 2,00,000 Taka and 1500 CC car’s surcharge is 25,000
Taka. So, the environmental surcharge will be 2,00,000 Taka.

Problem 7: [Non-Resident Foreigner]


Mrs. Akter is a non-resident foreigner and a taxpayer of Bangladesh. She is a
employee of an MNC in Bangladesh. In the latest income year, she stayed less than
183 days in Bangladesh. She received the followings from the job during her 6-
months work:

1. Basic Salary 2,00,000 Taka Monthly.


2. Received a flat from the office. The company paid 75,000 per month as rent.
3. She used a car (2750 CC) provided by the company.
4. Invested 5 lac Taka to purchase some public listed shares.
5. Invested 5 lac Taka to purchase some Mutual fund shares.

Calculate her tax liability.

Answer 7:

Basic (200000 X 6) = 12,00,000


House (75,000 X 6) = 4,50,000
Car (25,000 X 6) = 1,50,000
Total Taxable income before exemption :18,00,000
Exemption (1/3rd or 4.5 lac) : (4,50,000)
Taxable income : 13,50,000

Tax Payable: 13,50,000 X 30% = 4,05,000 Taka

Note: No rebate can be claimed by a non-resident foreigner.

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