Example $1$

Mr$.$ Mohamed Shahiduzzam is senior

executive a multinational company. His

income and related information for the

income year $2015-16$ are as follows:

basic monthly salary TK$175000,$ house

rent $50\%$ of basic, medical TK$5000$

a month, full time car and driver, $2$

festival bonus, employee profit sharing

bonus $3$ months' basic, contributory

provident fund $10\%$ of basic from both

the employer and the employee. TDS is

TK$25000.$

Mr$.$ Zaman lives in his own apartment

in the first floor and rented the second

floor at a monthly rental of TK$50000,$

municipal value being TK$55000.$ His

expenses for two apartments are

TK$200000$ for repairs and maintenance

municipal holding tax $3\%$ of rental

value, 'insurance premium TK$3000.$ He

took loan of TK $3$m @$12\%$ interest for

the building beginning in $2005.$ The

building was completed in $2014$ and

loan repaid till $2014$ TK$2$m$.$

His income from agricultural land is

TK$300000$ as his share from farmers.

He received interest on government

savings certificates TK$40000,$ TK$2500$

from bank interest, and dividend of

TK$55000$ from companies, all are after

TDS$.$

His investments during the year are

$($i$)$ a piece of land at Savar, Dhaka for

TK$2\mathrm{.}5$m but the deed shows TK$1\mathrm{.}5$m$,$

$($ii$)$ company shares for TK$75000$

cost being TK$60000,($iii$)$ premium of

TK$20000$ for an insurance policy of

TK$3$m$.$

He has business in the name of his

spouse who has not a TIN, income

from this business being TK$1\mathrm{.}8$m$.$ He

received a gift from his father market

value of which is TK$5$m$.$ His total net

wealth including all his investments

and gift is TK$40m.$

Requirement: Mr$.$ Shahiduzzaman's tax

return Calculation. according to the

Income Tax Audience Act $2023.($Based

on the Income Tax Law Act $2023$ of

Bangladesh Point of view$).$