Question
1. Mr. Shameem is a service holder. Compute his taxable income from salary from the following information for the year ended on 31th June, 2020.
1. Mr. Shameem is a service holder. Compute his taxable income from salary from the following information for the year ended on 31th June, 2020.
i) Basic salary - Tk.25,000 per month
ii) Dearness allowance - 10% of basic salary
iii) During the year he received Tk.6000/= as travelling allowance
iv) Medical allowance 250/= per month (actual expense Tk.2500/=)
v) He has been provided a rent-free qaurter, the annual value of which is Tk.50000/=
vi) He has paid Tk.500/= per month on a deposit pension scheme
2.a. Determine income year and assessment year from the following information- (marks-2)
i) Square company Ltd. has started their business on August 1, 2020
ii) Genetic company Ltd. closed their business operations permanently on March 31, 2021
iii) Mr. Rahim, a regular tax payer is going to leave bangladesh permanently on April 30, 2021
iv) Prime Bank Ltd., prepared its annual report covering the period 01-11-2020 to 31-12-2020
2.b. Mr. Rahman who was born and brought up in India, stayed in Bangladesh for business purpose during 01-06-2020 to 31-07-2020 and 01-04-2021 to 31-06-2021. Find out his residential status for the income year 2020-21. (marks-2)
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