Answered step by step
Verified Expert Solution
Question
1 Approved Answer
8. Broad questions: 1. Mr. Shameem is a service holder. Compute his taxable income from salary from the following information for the year ended on
8. Broad questions: 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- (marks-4) 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) |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started