A)

Assesses Name: Mr. S.A Clowd Income Year: 2010-2011 Assessment Year:2011-2012 Computation Of Total Income Heads of Income Tk.

Tk.

Tk.

1. Income from Salary: a) Basic Salary: July Oct (15,750*4) Nov March (16,000*4+30/31) Less: House benefit (1,000*8+30/31) Car benefit (200*8+30/31) b) Provident fund (Employer portion) 2. Income from house(24-25) House rent (120,000*12) Less: Allowance Exp. i) Repair (1/4*144,000) ii) Tax (4,000*1/2) iii) Interest (2,000*12) 3. Agricultural Income (26-27) Sale of agricultural crops Less: (60%) Cost 4. Income from Business: (28-30) Income from Partnership 5. Other Income: (33-34) a) Dividend receive b) Interest on lone to friend c) Price from Lottery 6. Income under Sec19 Under valuation of land (50%)

63,000 79,484 8,968 1,794

131,722 80,000

211,722

144,000

36,000 2,000 24,000

82,000

60,000 36,000

24,000

24,000

40,000 40,000 16,000 100,000

156,000

100,000

100,000 613,722

Tax credit income (Investment allowance) B) Tk 5,000 25,000 5,000 5,000 40,000 i) Rebate 10% on actual investment = 10%* 40,000=4,000Tk. ii) 20% of total income = 613,722*20%= 122,744 Tk. Or, iii) 1 crore tk. Whichever is lower. So, the amount is 4,000tk. a) Life Assurance premium b) Purchase of share of company c) Donation to government Zakat d) Purchase of reference

C) Comparative of Tax: Tk On 1 180,000 at 0% On Next 300,000 at 10% On next 133,722at 15% Less: Rebate on tax credit income Net tax payable
st

0 30,000 20,058 50,058 4,000 46,058

Assignment on, Income Tax Assessment of Individual Assessee. Course: Business Taxation

Submitted to, Professor Dr. Md. Abul Hossain Academic Coordinator Daffodil International University Uttara Campus

Submitted by, Jubayer Ibne Abedin ID 111 11 276 Eldrin Sarker ID 112 11 294

Date of Submission: 2 April 2012