Welcome to My Presentation

Ceremony

Tittle of the Report

Individual Tax Assessment

Introduction

Tax is the main source of government income. Every country

has a good taxation policy.

Like this Bangladesh has also a Tax policy or act.

There is an Income Tax Ordinance which is Published in the
Bangladesh Gazette, Extraordinary, dated the 4th June, 1984.

Objectives of the Study

To know about the tax.
To know about the taxation policy.
To find individuals tax liabilities.
To know the tax implication and tax exemption.
To know how tax is calculated.
To know what rate is applicable on specific items.

Conceptual Discussion
Tax:
Tax has been derived from the French word taxe etymologically; the Latin
word taxare is related to the term tax, which means to charge. Tax is a
contribution exacted by the state. A fee charged ("levied") by a
government on a product, income, or activity.
Income Tax

Income tax is a direct tax, which enjoys a pride of place in the revenues of
governments all over the world. In the fiscal scheme of our country, at present,
income tax is levied along with other direct and indirect taxes like VAT, Excise duty,
Gift tax etc.
Income Year
The general rule of taxability is that the tax is levied in each financial year
st July in respect of income earned in the Income year.
commencing on 1st

Assessment Year
"Assessment year" means the period of twelve months commencing
on the first day of July every year; and includes any such period which
is deemed to be assessment year in respect of any income for any
period. This period is also known as the financial year.
Assessee
"Assessee", means a person by whom any tax or other sum of money is payable
Salary:
Salary includes-(a) any pay or wages;(b) any annuity, pension or gratuity; (c) any fees,
commissions, allowances, perquisites or profits in lieu of, or in addition to, salary or wages;(d) any
advance of salary; (e) any leave encashment.

About the Assessee

1.Name of the Assessee: Md. Harun or Rashid (Principal)
2.TIN: 421-107-2774
3.(a) Circle: 7
(b) Taxes Zone: Barisal
4. Assessment Year: 2012-13
5. Residential Status: Resident

6.Status: Individual
7.Father's Name: Late Moin Udden Hawlader

14. Address (a) Present: Principal Officer; NBL; Jhalokhati Branch;

Jhalokhati.
(b) Permanent: Nabagram road Barisal

Income of the Assessee

1.Income from Salaries =TK. 657292
2. Income from Agricultural= TK.14000
3. Income from other source = TK. 46951
4. Total income= TK. 718243
5.Tax leviable on total income= TK. 62736
6. Tax rebate= Tk.10113
7. Tax payable = Tk.52623

Statement of income of the Assessee

Statement of income during the income year ended on ........................................
Serial no.

Heads of Income

Amount in
Taka

01

Salaries : u/s 21 (as per schedule 1)

TK. 657292

02

Interest on Securities : u/s 22

03

Income from house property : u/s 24 (as per schedule 2)

04

Agricultural income : u/s 26

05

Income from business or profession : u/s 28

06
07

Share of profit in a firm :

Income of the spouse or minor child as applicable : u/s 43(4)

08

Capital Gains : u/s 31

09

Income from other source : u/s 33

TK. 46951

10

Total (serial no. 1 to 9)

Tk.718243

11

Foreign Income:

12

Total income (serial no. 10 and 11)

13

Tax leviable on total income

14

Tax rebate: u/s 44(2)(b)(as per schedule 3)

Tk.10113

15

Tax payable (difference between serial no. 13 and 14)

Tk.52623

16

Tax Payments:

TK. 14000

TK. 718243
TK. 62736

(a) Tax deducted/collected at source

(Please attach supporting documents/statement)

Tk.1003.....

(b) Advance tax u/s 64/68 (Please attach challan )

Tk..12000......

(c) Tax paid on the basis of this return (u/s 74)

Tk 39620.

(Please attach challan/pay order/bank draft/cheque) Tk .......

(d) Adjustment of Tax Refund (if any)
Total of (a), (b), (c) and (d)

17

Difference between serial no. 15 and 16 (if any)

18

Tax exempted and Tax free income

19

Income tax paid in the last assessment year

Tk .......
Tk. 52623

Conclusion
The term assessment is very important in income tax literature. Most
of the section of ITO lead to fair assessment of the assesses.
Traditionally, assessment may mean to calculate the taxable income
with the tax liability. But, in modern sense, assessment is a wider
concept. It is not mere calculation rather is a process that starts from
the identification of taxpayers and ends with the collection of tax from
him to the satisfaction of IT authority. Thus, it covers the full cycle of
assessment.

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