Problem 1:

Mr. Mahidul is a government employee who works in the ministry of education of

Bangladesh. His income details at the end of Latest income year are as follows:

Basic Salary Monthly: 56,500

Medical Allowance Monthly: 1,500
Festival Bonus Yearly: 1,13,000
New Year Allowance: 11,300

During the income year, Mr. Mahidul has received 20,000 Taka for giving lectures
in a government academy and 25,000 Taka for attending different meetings.

He stays in the government house. He deposits 14,000 Taka in the provident fund
every month. On 30 June of the latest income year, his total earned interest on
provident fund stood at 1,08,500 Taka. Monthly 150 Taka and 100 Taka are
deducted respectively from the salary as subscription to welfare fund and group
insurance. Additionally, he deposits 6,000 Taka per month in a bank as DPS. TDS
deducted by the office during the income year was 20,000 Taka.

In the last return, his net asset was 23,00,000 Taka.

Prepare the tax return. You can use hypothetical information in filling up
particulars of assets and lifestyle expenses. Also, you may choose to ignore or
input hypothetical information for other demographic information required to
complete the return.

Please merge all the documents in single pdf using online tools and upload a single
file. The file must be renamed with your full roll number.
Solution:

Particulars Total Exempted Taxable

Income Income Income
Basic Salary 6,78,000 0 6,78,000
Medical Allowance 18,000 18,000 0
Festival Bonus 1,13,000 0 1,13,000
New Year Allowance 11,300 11,300 0
Honorarium from Lectures 20,000 0 20,000
Meeting Allowances 25,000 0 25,000
Total 8,65,300 29,300 8,36,000

Investments:

1. Provident Fund: (14,000*12): 1,68,000

2. Welfare Fund: (150*12): 1,800
3. Group Insurance: (100*12): 1,200
4. DPS: (6000*12): 72,000

Total Investment: 2,43,000 Taka

Rebate:
3% of 8,36,000 = 25,080
15% of 2,43,000 = 36,450
10 Lac

Tax:
3,50,000 * 0% = 0
1,00,000 * 5% = 5000
3,00,000 * 10% = 30,000
86,000 * 15% = 12,900

Gross Tax before Rebate: 47,900

Less: Rebate (25080)
Tax after Rebate: 22,820
Minimum Tax: 5000
Tax Payable: 22,820
TDS Paid: 20,000
Tax Paid with the return: 2820