Sections of the Income Tax Act 2023, which the salaried

persons of the Company under the Group must comply with:

1) According to section 261(1) of Income Tax Act 2023, when an individual
registers himself as a Taxpayer?

2) According to section 166(1) of Income Tax Act 2023 who is liable to submit
Income Tax Return as an individual?
3) Tax free Income Limit for a man – Taka 3,50,000/- and for a women Taka
4,00,000/-.
Salaried persons in our organization those who are getting monthly salary as below, have to pay
minimum tax Tk. 417 per month.
Category Salary for Men Salary for
Women
Yearly Salary Income with Bonus above of Tk. 5,25,000/- Tk. 6,00,000/-

Monthly Salary Income with Bonus above of Tk. 40,300/- Tk. 46,000/-

Monthly Tax deduction Tk. 417/- Tk. 417/-

This category of salaried persons must have TIN registration and at the time of joining they must
submit this vital documents as an integral part with other employment documents. In case of existing
employees they shall eligible to draw monthly salary only on presenting documentation according
to section 264(2) mentioned below. Otherwise their salary would not be disbursed.

Please note, as per section 55(U) of ITA 2023 all employees’ salary must
be disbursed through banking Channel.

4) Now let's see what is stated through section 264 of ITA 2023 for a salaried
person?
5) Consequences due to non-compliance of Section 55(U), 55(Y), 166, 261, 264
of Income Tax Act 2023 by the Employees’, the respective Company shall
have to pay Tax @ 27.50% upon disallowable value according to section 55.