Chapter 4; Assessment of individual

Problem 1. Ms. Sumona is an executive in private firm . Sumona has the

following sources of income for the year ended 30th June 2022
1. Income from salary
i. Basic salary tk 30,000 per month
ii. Festival bonus two equal to bank pay
iii. Entertainment allowance Tk 3,000 per month
iv. Conveyance allowance Tk 3,000 per month
Mrs. Sumona had been provided with a free furnished house . Its annual
rental value is Tk 42,000 . He contributes 10% of basic salary to the
recognized provided fund . his employer also contributed an equal sum .
2. Income from house property/ rent ;
Ms Sumona own a house at Dhanmondi . it was let out at Tk 13,000 per month
. the municipal value of the house was fixed at Tk 1,44,000 . He incurred the
following expenses for her houses ;
Repairs 24,000
Legal expenses 2,000
Municipal Tax 1,000
The house remained vacant during April and May
3. Others income ;
i. Interest on saving bank account Tk 10,800
ii. Interest on post office saving accounts Tk 18,000
iii. Dividend income Tk 36,000
4. Ms. . Sumona paid Tk 12, 000 as life insurance premium and purchased
book worth Tk 2,000 .
Determined Ms. Sumona tax liability
 Assesses; Ms/ Sumona
Assessment year 2023-24 ; income year 2022-23
Particular Tk Tk Tk
Income from employment (section
32-34)
Basic salary (30000x12 3,60,000
Festival bonus (30,000x2) 60000
Entertainment allowance 36,000
House rent annual value 42,000
Conveyance allowance 36,000
Less; full exempted 36,000
Recognized provided fund 0
(3,60,000x.10) 36,000
Received from salary 5,34,000
1
Less ; exempted of 5,34,000
3
(1,78,000)
=1,78,000 or 4,50,000 which is
lower
3,56,000
Total income from employment
Income from rent (section (35-39)
Actual rent (13,000x12) 1,56,000
Municipal value 1,44,000
Which is higher 1,56,000
Less; vacant allowance (26,000)
Admissible expense ; 130000
Repair expenses (1,30,000x.25) 32,500
Municipal tax 1,000
Land Revenue 500 (34,000)
Total income from rent 96,000
Income from financial assets ; (sec 62-65)
𝟏𝟎𝟎
Interest on saving bank account ( 𝟗𝟎 x10,800) 12,000
𝟏𝟎
Interest on post office saving account ( x18,000) 20,000
𝟗
𝟏𝟎
Dividend (36,000x ) 40,000
𝟗
Total income from financial assets
Total taxable income 72,000
5,24,000
 Compute of tax rebate income
Particular Tk
Investment and donation 72,000
Recognized provident fund 36000x2 12,000
Life insurance 84,000
a. 3% of total income calculated excluding tax
exempted income , income subject to reduced
rate of tax and income subject to minimum tax
(524000-12,000-40000) x 3% 14104
b. 15% on the amount of total investment and
expenditure of the taxpayer under part -I of
the sixth scheduled in any income year 12,600
(84,000x.15)=
c. Maximum limit 10,00,000
12,600

Computation of tax liability

Details Tax rate Amount
On first 3,50,000 0% 0
On next 1,00,000 5% 5,000
On next 72,000 10% 7,200
Tax liability 12,400
12,600
a. Less; tax rebate ------
b. Minimum tax
(12,000x10%+40000x10%+20000x10% 7200
Tax liability higher one 7200
Less ; tax deduction at source
From bank interest 1,200
From interest on post office 2,000
From dividend 4000 7200
Net Tax liability 0
Problem 2 Mrs. Jui (age 50) retired as an accountant a private
telecommunication company on May 31 ,2023
Before retirement during the income year 2022-23 she received the following
income
On may 2023 her basic salary falls on 20,000 in the scale of 16,000 -2000x3-
22000 . her date of yearly increment is on 15th June , besides she received
i. 50% of her basic salary as house rent allowance
ii. Medical allowance 2,000 per year
iii. Dearness allowance 10% basic salary
iv. Two festival bonuses equivalent to two months basic salary received
in the month of November and may
v. She contributes 10% of her basic salary to an unrecognized
provident fund
After retirement in June 2023 she has received the accumulated
balance of her unrecognized provident fund total tk
1,50,000(employees contribution tk 1,00,000 and accumulated
interest 50,000)the company has given her travel allowance of tk
25,000 as reward for her performance in the company.
Her actual expenses is 18,000 in this regard . her additional income
as;
a. Income from house property tk 1,50,000
b. Income from agriculture tk 20,000
Her investment during the years were ; purchases of personal desktop
tk 25,000.purchases of gift cheque tk 5,000 , purchases of share ;
primary tk 15,000 and secondary 50,000. Donation of aga khan
development network tk 20,000 ,donation as Zakat to poor relatives tk
20,000 , purchases of Bangladesh saving certificate tk 25,000 and
contribution to DPS Tk 30,000 .TDS deducted from her salary amount to
tk 5,000 .Her net assets amounted to 11 crore .
 Assesses; Ms. AYSHA
Assessment year 2023-24 ; income year 2022-23
Particular Tk Tk Tk
Income from employment (section
32-34)
Basic salary (20000x11) 220,000
House rent (220,000x.50) 1,10,000
Medical allowance 2,000
Festival bonus (20,000x2) 40,000
Dearness allowance (2,20,000x.10) 22,000
Traveling allowance 25,000
Less; Actual Expenses 18,000 7,000
Accumulated balance Unrecognized
provided fund (1,50,000-1,00,000) 50,000
Received from salary
1 4,51,000
Less ; exempted 3 of 4,51,000
=1,50,333 or 4,50,000 which is lower (1,50,333)
Total income from employment 3,00,667
Income from rent (section (35-39)
Total income from rent 1,50,000
Income from agriculture (section =40-44)
Income from agriculture 20,000

Total taxable income 4,70,667

Compute of tax rebate income

Particular Tk
Investment and donation
a. Purchase of share (15,000+50000) 65,000
Donation to Aga Khan development 20,000
Saving certificate 25,000
DPS 30,000
Investment amount 1,40,000
a. 3% of total income calculated excluding tax
exempted income , income subject to reduced
 rate of tax and income subject to minimum tax 14,120
(4,70,667) x 3%
b. 15% on the amount of total investment and
expenditure of the taxpayer under part -I of 21,000
the sixth scheduled in any income year
(1,40,000x.15)= 10,00,000
c. Maximum limit 14,120
A, B, C which is lower

Computation of tax liability

Details Tax rate Amount
On first 4,00,000 0% 0
On next 76,667 5% 2,033
Less; Rebate on investment (14,120)
Minimum tax liability 5000
Add; Surcharge (5000x.20) 1000
6,000
Less; TDS deducted from her salary 5000
Total tax payable 1,000

Problem 3. On 1st July 2023 Mr. Jamal retried from his job . under a
government voluntary scheme he received tk 3 corer as gratuity , Tk
54,00,000 as accumulated balance from the provident fund , Tk 30,00,000 as
golden handshake . for the current income year he has furnished the
following information about the other sources of his income . compute his tax
liability for that year
Mr. Jamal Uddin performed a consultancy work for Asian development bank
for 10 days in Singapore and received an Honorarium of $5000. He has
remitted the amount to Bangladesh through Western union .tk 6,00,000 was
credited to his accounts by in this regard
Sales of agricultural crops tk 2,00,000 ; income from borga tk 50,000 sale of
tea 1,00,000 , income from poultry farm 25,00,000 sale of tractor tk 26,000
(accumulated depreciation Tk 2,000 ; cost Tk 25,000)
Profit from paper business tk 2,00,000 cigarette Manufacturing business tk
300,000 call center business tk 2,50,000
Interest on Sanchaypatra tk 3,00,000 (TDS TK 30,000) Bank interest tk 45,000
(net) dividend from listed company share tk 27,000 ; income from zero
coupon bond 50,000
From a Partnership Firm he received Tk 2,00,000 as share of profit
Investment claimed by Mr. Uddin includes ; purchased of jewelry tk 3,00,000 ,
purchases of sanchaypatra tk 15,00,000, shares through IPO tk 1,00,000;
purchases of secondary shares tk 2,00,000 donation to united hospital tk
50,000 ; purchases of book and magazine tk 10,000 ; contribution to Ahsania
mission cancer hospital tk. 10,000 ; distribution of zakat money to village tk
20,000;DPS tk 12,000 per month ; purchased of Samsung android
smartphone tk 25,000 & purchased of apartment tk 1 corer
During the year his net wealth is amount to tk. 12 corer . he owns 2 cars (1500
cc and 2200 cc ) advance tax paid tk 75,000.
Problem 4.
Mr. K.M Ali Azam is the Sr. secretary of the Government people Republic of
Bangladesh received basic salary of Tk. 80,000 per month in the income year
2022-23
1. Besides basic salary he received house rent allowance @60% of basic
salary ;
2. A full tie car
3. Medical allowance tk 3,000 tk 40000 as servant allowance per month
4. During the year he received two bonuses each equal to his basic
5. He contributes 10% of basic salary into a statutory provident fund
Income from house property ;
Mr; Azam own a house at Dhanmondi .it was let out at Tk 13,000 per
month. The municipal value of the house was fixed at Tk 1,44,000 . he
incurred the following expenses for her houses
1. Repairs 24,000
2. Legal charge 2,000
3. Municipal tax 1,000
 4. Land revenue 500
The house remained vacant during April and may 2023
Compute taxable income of Mr. Azam under the head income from
employment and rent income for the income year 2022-23 .
Problem 5 Mr. Jamshed Hasan is an executive of a private firm, He furnished the
following information for the income year 2023- 24. Compute his total income and tax
liability for the assessment year 2024-25
Income from salaries:
i.. Basic salary Tk. 33,000 per month
ii. Festival bonus equivalent to two months basic salary
iii. House rent allowance Tk. 15,000 per month
iv. Entertainment allowance 5% of basic salary.
v. Medical allowance Tk. 2,000 per month (actual annual expense Tk 18,000)
vi. Conveyance allowance Tk. 1,500 per month.
vil. Contribution to RPF both by employee and employer 10% of basic salary.
Agricultural income:
1. Sale of crops Tk. 2,70,000.
2.Income from sale of fish of pond Tk. 45,000 (not fish farming]
Income from business Tk. 32,000
Income from financial asset:
1. Interest from fixed deposit Tk. 27,000 (net of tax).
2. Interest from savings deposit Tk. 18,000 [net of tax].
iii. Interest received on post office savings bank Tk. 9,000 (net of tax)
Income from other sources:
Income from lease of non-agricultural land Tk. 41,000
Actual investment made by Mr. Jamshed Hasan during the year is given below.
i. Life Insurance Premium paid Tk. 20,000; Policy value Tk. 2,00,000
ii. Donation to local club Tk. 2,000,
iii. Gift to wife Tk. 20,000;
iv. Donation to a local mosque Tk. 5,000;
v. Investment in primary shares of listed companies Tk. 60,000;
vi. Purchase of Savings Certificate Tk. 100,000;
vii. Donation to a charitable Hospital Tk. 10,000;
viii. Purchase of furniture Tk. 15,000;
ix. Donation to Apollo Hospital Tk. 30,000,
x. Donation to Govt. Zakat Fund Tk. 5,000.
Mr. Jamshed Hasan has Tk. 8,500 refund adjustment from last year and a carry forward
of losses from agriculture of Tk. 60,000 for last three years.

Mr. Jamshed Hasan

Assessment year 2024-25 ; income year 2023-24
Particular Tk Tk Tk
Income from employment (section
32-34)
Basic salary (33000x12 3,96,000
Festival bonus (33,000x2) 66000
House rent allowance (15,000x 12) 180,000
Entertainment allowance @5% 19,800
Medical allowance 2,000x12 24,000
Conveyance allowance 1500x12 18,000
Employers contribution To RPF (3,96,000x.10) 39600
Received from salary
1
Less ; exempted of 743,400 743,400
3
=247800 or 4,50,000 which is lower
(247800)

Total income from employment 495600

2. Income from Agricultural (section (40)
Sales of crops 270000
Less; admissible expenses
Cost of production (2,70,000x.60) (1,62,000)
1,08,000
Less; carry forward of previous year loss (60000)
Total income from agriculture 48,000
3. Income from business “(44)
Business income 32,000
Income from financial assets ; (sec 62-65)
 𝟏𝟎𝟎
Interest from fixed deposited (27,000× )
𝟗𝟎
𝟏𝟎𝟎
Interest on saving bank account ( 𝟗𝟎 x18000) 30,000
𝟏𝟎
Interest on post office saving account ( x9,000) 20,000
𝟗
Total income from financial assets 10,000
4.. income from other sources (66) 60,000
Income from sale of fish of pond
Lease rental of non agricultural land 45000
Total income from others sources 41000
Total taxable income 86000
721,600

Compute of tax rebate income

Particular Tk
Investment and donation
Recognized provident fund 39600x2 79200
Life insurance 20000 20,000
(maximum limits 10%) 20000 60,000
Investment in primary share of listed companies 100,000
Purchases of saving certificates 10000
Charitable hospital 5000
Govt zakat fund 274,200
Total actual investment
d. 3% of total income calculated excluding tax
exempted income , income subject to reduced
rate of tax and income subject to minimum tax
(721,600-50000) x 3% 20148
e. 15% on the amount of total investment and
expenditure of the taxpayer under part -I of
the sixth scheduled in any income year
(274200x.15)= 41,130
f. Maximum limit 10,00,000
20148

Computation of tax liability

Details Tax rate Amount
On first 3,50,000 0% 0
On next 1,00,000 5% 5,000
On next 2,71,600 10% 27,160
Tax liability 32,160
(20148)------
c. Less; tax rebate (6000)
Less; tax deducted at source
Less; previous years refund carry (8500)
forward losses
net tax liability nill
Problem 6;
Mrs. Jarin Huq is the general manager of a private company. Her sources
of income for the ended 30th June, 2024 were as follows:
Salaries:
Basic salary per month Tk. 45,000
Medical allowance per month (actual exp. Tk. 19,000) 2,000
House rent allowance per month 30,000
Conveyance allowance per month 3,000
Share scheme received (Fair value less cost of acquisition) 50,000
Employer's Contribution to RPF 10% of Basic
Income from financial asset:
Dividend from listed company Tk. 25,000
Interest received from government securities Tk 40,000
Income from rent:
Annual rent received Tk. 2,80,000
Municipal value 3,00,000
Expenses related to the house for the year,
Repair and Maintenance Tk. 1,00,000
Municipal tax Tk. 3,000
Agricultural income: Sale of crops Tk. 3,00,000
During the year, Mrs. Huq incurred the following investment and expenses
Life insurance premium 48,000
Donation to local mosque 40,000
Purchase of share from IPO of listed companies 44000
As per the list of assets and liability as at 30/6/2024 . Mrs. Huqs net
assets value tk 6 crore .from the above particulars of Mrs. Huq compute
total income and tax liability for the assessment year 2024-25
Assessment year 2024-25 ; income year 2023-24
Particular Tk Tk Tk
Income from employment (section
32-34)
Basic salary (45000x12) 5,40,000
Medical allowance 2,000x12 24,000
House rent allowance (30,000x 12) 360,000
Conveyance allowance ( 3000x12) 36,000
Employers contribution To RPF (3,96,000x.10) 54,000
Received from salary 10,64,000
1
Less ; exempted of 10,64,000
3
=3,54,667or 4,50,000 which is 7,09,333
lower 7,09,333
Total income from employment
2. income from rent(35-39)
Actual rental value 2,80,000
Municipal value 3,00,000
Which is higher 3,00,000
Less; admissible expenses
Repairs and maintenance (3,00,000x.25) 75,000
Municipal tax 3000 (78,000)
 2,22,000
Total income rent

2. Income from Agricultural (section (40-

44)
Sales of crops 3,00,000
Less; admissible expenses
Cost of production (3,00,000x.60) (180,000)
1,08,000
1,20,000
Income from financial assets ; (sec 62-65) (60000)
Dividend income 25,000
Interest from government security 40,000
Total income from financial assets 65,000
Total taxable income 11,16,333

Compute of tax rebate income

Particular Tk
Investment and donation
Recognized provident fund (54000x2) 108000
Life insurance 48,000
Share purchase from listed companies 44,000
Total actual investment 2,00,000
g. 3% of total income (11,16,333-25000) x 3% 32,740
h. 15% actual investment(200000x.15) 30000
i. Maximum limit 10,00,000
Which is lower 30,000
 Computation of tax liability
Details Tax rate Amount
On first 3,50,000 0% 0
On next 1,00,000 5% 5,000
On next 4,00,000 10% 40,000
On balance 2.66,333 15% 39,950
Tax liability 84,950
(30,000)------
d. Less; tax rebate 54,950
Add; wealth surcharge (54,950x.10)
(5495)
Tax liability 60,445
Problem 7. Mr. Anu Ahmed has the following income for the income
year ended on 30th June, 2024:
Income from salaries
Mr. Anu Ahmed received basic salary of Tk. 18,500 from the month of
April, 2024 following the scale of his salary 17,000-1,500-20,000.
Before that his basic salary per month was Tk. 17,000 as the date of
annual increment is 1st April every year. Besides basic salary he
received dearness allowance @ 15% of his basic salary;
Entertainment allowance and medical allowance @ 20% and @10% of
basic salary respectively; Annual bonus Tk. 36,000; house rent
allowance Tk. 11,000 per month; conveyance allowance Tk. 1,250 per
month. He contributes 10% of basic salary to a recognized provident
fund (RPF) and his employer also contributes the same in the fund.
During the year he received Tk. 15,000 as interest on provident fund
and the rate of interest was 12.5%
Income from financial assets
Mr. Ahmed received interest on Govt. Securities Tk. 1,00,000.
Income from business
Due to the economic problem and huge competition, his business results a
loss of T 80,000 this year which he likes to set-off against income from the
sources mentioned above
Capital gain
He has sold a machine at taka 150,000 before the expiry of 5 years which
was purchased at a price of taka 80,000 for the purpose of his business.
Another 30,000 take was spent to improve the machine. At the time of sale,
the machine had accumulated depreciation amounting to taka 60,000

Mr. Ahmed made and incurred the following investments and expenses
during the year:
1. Life insurance premium Tk. 6,000, policy value Tk. 70,000
2. Purchase of books Tk. 6,000 and purchase of scientific instruments Tk.
10,000
3. Purchase of primary shares of Listed Company Tk. 20,000
4. Donation to religious institutions Tk 8,000, donation to Govt. Zakat Fund
Tk. 7,500, donation to president's relief fund Tk. 28,000, donation to a local
club Tk 9,000, donation to a blind school Tk 15,000
5. Purchase of a piece of land worth 70,000 in the name of his wife and a
sum of Tk 5,000 was spent for its registration
6 Spent a sum of Tk. 15,000 as educational expenses of his children
7. Purchase of ICB unit certificate Tk. 20,000
8. Purchase of gold Tk. 20,000.
9. Contribution to group insurance scheme Th. 2,000.
Ascertain his total income and tax to be paid for the assessment year of
2024-25.
Assessment year 2024-25 ; income year 2023-24
Particular Tk Tk Tk
Income from employment (section
32-34)
Basic salary (17000x9)+(18500x3) 208,000
Dearness allowance 208000x.15 31275
Entertainment allowance @20% 41,700
Medical allowance @.10 20,850
 Annual bonus and fees 36,000
House rent allowance (11,000x 12) 132,000
Conveyance allowance ( 1250x12) 15,000
Employers contribution To RPF (208,000x.10) 20,850
Interest from RPF 15,000
Less; 33% of total salary from employment 167,038) 506,175
1
Less ; exempted of 5,06,175
3
=3,54,667or 4,50,000 which is lower
(1,68,725) 3,37,450
Total income from employment
2. income from business ?(section 44)
Loss from business
-80,000
Revenue gain from sale of machine
(110000-50,000)
Carry forward business loss (20,000) 60,000
3. capital gain (section 57) -20,000 0
Sales proceeds
Less ;cost of acquisition 1,50,000
Cost of improvement 80,000
5. Income from financial assets 30,000
1,10,000
(section 62 ) 40,000
Income from interest on govt.
security ) 1,00,000
Total income 4,77,450

Compute of tax rebate income

Particular Tk
Investment and donation
Recognized provident fund (20850x2) 41,700
Life insurance 6000
Maximum limit 10% 7000 6000
Donation to govt. Zakat fund 7500
Share purchase from listed companies 20,000
Purchase of ICB unit certificate 20,000
Contribution to group insurance 2,000
Total actual investment 97,200
j. 3% of total income (477450 x 3% 14,324
k. 15% actual investment(97200x.15) 14580
l. Maximum limit 10,00,000
Which is lower 14,324

Computation of tax liability

Details Tax rate Amount
On first 3,50,000 0% 0
On next 1,00,000 5% 5,000
On next 27,450 10% 2,745
7745
Tax liability (14,324)
(6,579)------
Minimum net tax liability 5000

Problem 8.
Mr. Joynal Abedin works as an officer in a Multinational Company,
headquartered in USA, His sources of income for the year ended on 30th
June, 2024 were as follows:
Income from salary
1. Basic salary Tk. 15,000 per month.
2. Dearness allowance 10% of the basic salary
3. Two bonuses equivalent to two month's basic salary.
4. Medical allowance Tk. 1,000 per month (actual expense Tk. 10,000)
5. Entertainment allowance Tk. 200 per month
6. He has been provided with a free 2,500 CC car both for official and
personal use.
7. He has also been provided with a rent-free quarter municipal value of
which is Tk. 80,000.
8. Travelling allowance as a part of his service contract Tk. 1,00,000; from
where he saved Tk. 10,000.
9. He contributes 10% of his basic salary to a Recognized Provident Fund.
His employer also contributed the same
10. During the year, he received interest of Tk. 1,800 @ 12% from RPF.
11. He has taken Tk.21,500 as advance in the month of June, 2023 to meet
up some of his financial difficulties .
b. Income from financial assets:
Mr. Abedin received interest on Govt. Securities Tk.1,00,000. Tax deducted
at source @ 10% Bank also charged Tk. 400 to collect the interest.
c.. income from house property
he owns a two-storied house at Dhanmondi . He stays in one with his
family and other floor is let out for residential purpose Tk 9,000 per month.
The municipal house is 2,00,000 per Annum. During the year he spent the
following expense
Repair expense Tk 2,000 108000-18,000=90000
Fire Insurance premium tk 4000
Land development tax 1500
Sewerage and utilities expense Tk 1,000
Payment of HB Loan installment( including interest of Tk 500) Tk 5000
During the year, the house has remained vacant for two months
d. Agricultural income:
Sale of crops Tk 5,000
Income from Borga tk 2000
Share of profit from partnership firm Tk 10,000
1. Income of spouse and minor children dependent on him Tk. 40,000
g. He won a lottery of Tk. 3,00,000 (tax deducted at source @ 20% Tk.
60,000 from it)
h. During the year Mr. Abedin visited South Korea as a consultant and
generated income 5,00,000 and he paid income tax @25% in South
Korea. He brought 2.50,000 through bank. From another visit to Russia, he
generated income of Tk. 300000 income tax there 20%.
i. Income from business
Profit from sole-proprietorship business Tk. 4,000. Last year's lost carried
forwarded Tk 1000
j .Income from other sources:
1. Interest income from FDR Tk 4,500
2. Profit from Islami bank Tk 900
4. Cash dividend from a listed company shares 31500
5. Sale of forest timber tk 2000
Investment claimed by Mr. Abedin:
1. Payment of life insurance premium Tx. 8,000 (Policy value Tk. 100,000)
2. Purchase of a listed company's primary share Tk. 5.000
3. Purchase of books and magazines Tk. 1,000
4. Purchase of a share of co-operative society Tk. 2,000
5. Contribution to President's Relief Fund Tk. 3,000
6. Contribution to Govt. Zakat Fund Tk. 2,500
7. Purchase of Furniture Tk. 15,000
Based on the above information, compute Mr. Abedin's total income and
tax liability for the assessment year 2024-25
Assessment year 2024-25 ; income year 2023-24
Particular Tk Tk Tk
Income from employment (section
32-34)
Basic salary (15000x.12) 1,80,000
Dearness allowance 180000x.10 18,000
Bonus 1500x2 30,000
Entertainment allowance @200x12 2400
Medical allowance 1000x12 12,000
Car facility 10,000 x12 120,000
Rent free accommodation annual rental value 80,000
Travelling allowance
Less; exempted
1,00,000 20,850
90000 10,000
Employers contribution To RPF (180,000x.10) 18,000
1,800
Interest from RPF 1,62,327 0
Less; 33% of total salary from employment 491,900
1
Less ; exempted of 491,900
3 (163,967)
=163,967 or 4,50,000 which is lower
Total income from employment 3,27,933
2. income from rent section 35
Actual rental value (‘9000x12) 1,08,000
Municipal value (200000/2) 1,00,000
Annual value (whichever is higher) 108,000
Less; vacancy allowance 9000x2 18,000
90,000
Admissible expenses ;
Repairs and maintenances (90000x.25) 22,500
Fire insurance premium 4000/2 2000
Land development 1500/2 750
Interest on loan 500/2 250
(25,500)
Total income from rent
64,500
3. agriculture income (section 40)
Sale of crops 5000
2000 7,000
Income from BORGA

Less; production cost (5000x.60) (3,000) 4,000

4.. Income from business(section 44)
Profit from sole proprietorship business 4,000
Less; set of previous years loss (1000) 3,000
5.. Income from financial assets (section 62 )
interest on govt. security
100000
less; collection charge
(400)
𝟏𝟎𝟎
99,600
profit from Islami bank (900x× ) 1000
𝟗𝟎
 𝟏𝟎𝟎
interest on fixed deposit (4500× ) 5,000
𝟗𝟎
dividend from ICB matual Fund (31500×
𝟏𝟎𝟎
) 35,000
𝟗𝟎
𝟏𝟎𝟎 2000
cash dividend of listed co.(1800x× )
𝟗𝟎 142,600
6. Share of profit in partnership firm
10,000
7. Income of spouse and minor children
dependent of him 40,000
8. Income from other sources ?(section 66)
Sale of forest timber 2,000
Prize bond lottery 3,00,000 302000
9. Foreign income 5,00,000
a. Income from south korea (as
there is DTAA between Korea
and Bangladesh foreign tax
credit will be allowed as per sec
244 2,50,000
Less; exempted 2,50,000
b. Income from Russia )as there is
no DTAA between Bangladesh
and Russia so no Foreign tax
credit will be allowed as per
section 246 .
Because NBR not yet prescribed 3,00,000
any rules in this behalf } 5,50,000

Total income 14,44533

Compute of tax rebate income

Particular Tk
Investment and donation
Recognized provident fund (18,000x2) 36,000
Life insurance 8000
Donation to govt. Zakat fund 2,500
Share purchase from listed companies 5000
Total actual investment 51,500
m. 3% of total income (14,44533-3,00,000-142,600) x 3% 30058
n. 15% actual investment(51,600x.15) 7,725
o. Maximum limit
Which is lower 14580
10,00,000
7725

Computation of tax liability

Details Tax rate Amount
On first 3,50,000 0% 0
On next 1,00,000 5% 5,000
On next 4,00,000 10% 40,000
On balance 500000 15% 75000
On balance 94533 20% 18906
On lottery income 3,00,000 20% 60,000
Tax liability 208906
Less ; tax rebate (7,725)
201181
Less; double tax relief 250000.10 (25,000)
Less; tax deducted at source 176181
(64300)
Net tax liability 111881