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Ms. Nazmun Nahar is the head of Accounts of a multinational company in Bangladesh. She has joined the company on July 01, 2018 as her

Ms. Nazmun Nahar is the head of Accounts of a multinational company in Bangladesh. She has joined the company on July 01, 2018 as her first job. She has received the following income for the year ended on 30 June 2019. You are required to calculate the total income and tax liability of Ms. Nazmun Nahar for the assessment year 2019-20: Basic pay Tk. 150,000 per month sent directly to her bank account; Rent free accommodation fully furnished by the company. The annual rental value of the house is Tk. 500,000; Full time company car for 24 hours for her own use and for her family: Company pays Tk. 20,000 per month for her two school going children which is paid to the school authority directly: She received two festival! bonuses each equivalent to basic pay during the Eid time which she spent partly for her family and partly for the poor people in her village: Driver's salary of the full time car Tk. 10,000 per month paid to her driver's bank account: Company paid Tk. 205000 to her during the year being the reimbursement of various utility bills of her house: Personal mobile bill paid by the company Tk. 5,000 per month. She was paid Tk 200000 for her overseas travels for the official trip out of which she saved 25% during the year, Bill paid for the membership of an international club by the company Tk. 250,000. Medical allowance Tk. 15,000 per month; during the year actual medical expense was Tk. 100,000: Entertainment allowance Tk. 10.000 per month; actual expense in this regard Tk. 150,000: She has contributed 10% of her basic salary to a recognized provident fund. Her employer also contributed the same amount. Interest on the said fund e 18% is Tk. 1,800 during the period; Calculate Ms. Nazmun Nahars taxable income and tax liability.

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