Bangladesh

Particulars

BDT

BDT

Income from salaries:

Basic salary

         572,000

House rent allowance

         336,000

Conveyance allowance

         138,400

Medical allowance

              7,200

Festival bonus

         572,000

Less: Exemption as per para 27 of 6th schedule part A of the Act (1/3rd of Total salary or BDT 5,00,000 whichever is less)

         (5,00,00)

Income from salaries (A)

     11,25,600

Income from house property:

Commercial space annual income

516,000

Less:

Repair and maintenance cost (30%)

         (154,800)

Municipal tax

              (9,072)

Holding tax

              (1,782)

Total income from house property

         350,346

     350,346 Total income (A+B)

   14,75,946

Tax calculation:

On first 375,000

 Nil

On next 300,000 at 10%

             30,000

On next 400,000 at 15%

           60,000

On balance of 3,25,946 at 20%

           65,189

Gross tax liability before deducting investment rebate

       104,494

Investment tax rebate as per section 78 of the Act:

(a) 3% of total income

 34,424

(b) 10% of the allowable investment (465,000) as per part 3 of 6th schedule of the Act

            46,500

(c) BDT 0.75 million

      7,50,000

Investment tax rebate (lower among (a), (b), and (c))

 (44,278)

Tax liability post deduction of investment rebate

  20,911