(b) Mr. Suntan Ahmed has filed his Income Tax Return for the year ending on 30-06-2020 showing the following: a) Basic Salary per month @Tk. 35,000 b) Bonus: 2 months basic salary c) Advance salary on account of daughter's marriage Tk. 70,000 d) Cash entertainment allowance Tk. 40,000 e) Contribution to Recognized P.F. @ 15% of B.S. (Equal amount is contributed by employer). f) Conveyance allowance received in cash @ Tk. 6,000 g) Dividend from a Company Tk. 38,500 h) Interest from saving account Tk. 15,000 i) Casual income from bridge competition Tk. 20,000 i) Birth day presentation Tk. 4,000 k) Recreation allowance Tk. 15,000 He has been provided with a rent-free quarter. The annual value of the house estimated Tk. 2,00,000. Interest on the provident fund balance for the year is Tk. 15,000 @15% interest. Please compute the total taxable income of the assessee for the assessment year 2020 -2021. 08

(b) Mr. Suntan Ahmed has filed his Income Tax Return for the year ending on 30-06-2020 showing the following: a) Basic Salary per month @Tk. 35,000 b) Bonus: 2 months basic salary c) Advance salary on account of daughter's marriage Tk. 70,000 d) Cash entertainment allowance Tk. 40,000 e) Contribution to Recognized P.F. @ 15% of B.S. (Equal amount is contributed by employer). f) Conveyance allowance received in cash @ Tk. 6,000 g) Dividend from a Company Tk. 38,500 h) Interest from saving account Tk. 15,000 i) Casual income from bridge competition Tk. 20,000 i) Birth day presentation Tk. 4,000 k) Recreation allowance Tk. 15,000 He has been provided with a rent-free quarter. The annual value of the house estimated Tk. 2,00,000. Interest on the provident fund balance for the year is Tk. 15,000 @15% interest. Please compute the total taxable income of the assessee for the assessment year 2020 -2021. 08

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter8: Taxation Of Individuals

Section: Chapter Questions

Problem 51P

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