Residential Status

Question 1:
The following are the particulars of income of Mr. Zaman for the income year 2022-23:
1. Rent from a property in Dhaka received in India Tk. 40,000
2. Income from a business in USA controlled from Bangladesh Tk. 150,000
3. Income from a business in Dhaka controlled from Pakistan Tk. 180,000
4. Rent from a property in Canada received there but subsequently remitted to Bangladesh Tk.
60,000
5. Interest from bank deposits in Canada Tk. 20,000
6. Gifts received from his parents Tk. 45,000
Compute total income of Mr. Zaman, assuming that he is a (a) Resident; (b) Non-resident

Solution 1:
Mr. Zaman
Income year: 2022-23
Assessment year: 2023-24
Computation of total income
Particulars Resident Tk. Non-resident Tk.
Rent from property in Bangladesh (wherever 40,000 40,000
paid)
Income from business in USA controlled from 150,000
Bangladesh
Income from business in Dhaka controlled 180,000 180,000
from Pakistan (as it is received in Bangladesh)
Interest on bank deposits at Canada 20,000

Total income 3,90,000 2,20,000

Surcharge
Question 2:
Mr. Sabbir has a total income of Tk. 13,00,000 (of which Tk. 4,00,000 from cigarette
manufacturing business) and net wealth of Tk. 10,10,00,000. He owns two motor cars of 1500 cc
and 2300 cc respectively. Calculate his tax liability.
Solution 2:
Regular Tax (3,50,000 * 0% + 1,00,000 * 5% + 3,00,000 * 10% + 1,50,000 * 15% + 4,00,000 *
45%) = 2,37,500
Rebate = (3% of 13,00,000) = 39,000 or 10 lac (lower one)
Tax after rebate = (2,37,500 – 39,000) = 1,98,500
For having assets withing 10-20 crore = (1,98,500 * 20%) = 39,700
2.5% on income from cigarette = (4,00,000 * 2.5%) = 10,000
Environmental surcharge for 2300 CC = 75,000
Total Tax = 3,23,200

Minimum Tax (Company)

Question 3:
X Limited is a Public Limited Company registered in Bangladesh involved in manufacturing
chips (Not Listed in the Stock Exchange). During the assessment year 2023-24, its net operating
income was 2,50,000 and interest income was 50,000. If sales revenue is 20,00,000 and income
tax rate is applicable as per law, Calculate income tax liability.
Solution 3:
Regular Tax = 3,00,000 * 27.5% = 82,500
Minimum Tax (20,00,000 + 50,000) * .60% = 12,300
Regular Tax 82,500 is payable.

Understatement of export amount

Question 4:
ABC limited, a private limited company, claimed that the value of their total export during the
income year 2022-23 was Tk. 5,00,00,000. But through an investigation, it was revealed that the
actual amount of exports was Tk. 6,00,00,000. What will be the consequences?
Solution 4:
(6,00,00,000 – 5,00,00,000) * 50% = 50,00,000 Tk. Penalty.