Practical

Problem

Mr. Ahsan is the executive director of ABC Co. Ltd. He has been given the following monthly salary and
allowances for the year ending 30th June, 2014
1. Basic Salary
Tk. 25,000
2. Dearness Allowance
Tk. 5,000
3. Entertainment Allowance
Tk. 1,000
4. Employer;s Contribution to P.F(Recognized)
Tk. 2,500
5. Lunch Allowance
Tk. 1,000
6. School fee for the Children of Mr. Ahsan
Tk. 5,000
7. Utility Allowances
Tk. 3,000
8. Additional Conveyance allowance
Tk. 1,000
9. Fee for Golf Club (Yearly)
Tk. 5,000
10. Medical Allowance
Tk. 3,000
(Actual expenditure during the year was Tk. 30,000)
11. Festival Bonus Equal to basic pay (got two bonus during the year)
He has purchased Bangladesh Sanchay Patra amounting to Tk. 1,00,000. He is given a full free accommodation.
Rent for the house is Tk. 35,000 per month. He is provided with a full time car for private use. He has
contributed Tk. 1,00,000 to Prime Ministers relief fund. He has been given a servant whose monthly salary is
Tk. 1,200. He has paid LIP Tk. 50,000 (Insured amount is Tk. 4,00,000). He contributes Tk. 2,500 per month to
the provident fund. During the year he received bank interest amounting to Tk. 1,75,000. He received dividend
Tk. 1,20,000. He purchased primary shares of 75,000 of a public ltd. Company which is listed in stock exchange.
Compute the total income and determine the tax liability of Mr. Ahsan for the assessment year 2014-2015.

Practical Problem
Mr. Ahsan is the executive director of ABC Co. Ltd.
He has been given the following monthly salary and
allowances for the year ending 30th June, 2013.
1. Basic Salary
Tk. 25,000
2. Dearness Allowance
Tk. 5,000
3. Entertainment Allowance
Tk. 1,500
4. Employer;s Contribution to P.F(Recognized) Tk.
2,500
5. Lunch Allowance
Tk. 1,000
6. School fee for the Children of Mr. Ahsan
Tk.
5,000
7. Utility Allowances
Tk. 3,000
8. Additional Conveyance allowance
Tk.
1,000
9. Fee for Golf Club (Yearly)
Tk. 5,000
10. Medical Allowance
Tk. 3,000
(Actual expenditure during the year was Tk.
30,000)

Practical Problem
He has purchased Bangladesh Sanchay Patra
amounting to Tk. 1,00,000. He is given a full
free accommodation. Rent for the house is
Tk. 35,000 per month. He is provided with a
full time car for private use. He has
contributed Tk. 1,00,000 to Prime Ministers
relief fund. He has been given a servant
whose monthly salary is Tk. 1,200. He has
paid LIP Tk. 50,000 (Insured amount is Tk.
4,00,000). He contributes Tk. 2,500 per
month to the provident fund. During the year
he received bank interest amounting to Tk.
1,75,000 on which I.T was deducted @ 10%.
He received dividend Tk. 1,20,000. He
purchased primary shares of 75,000 of a
public ltd. Company which is listed in stock
exchange.