What is the format, Calculation and Section of final settlement of tax to NBR.

The Bangladesh RMG sectors minimum tax rate is fixed 0.60%  U/S: 53BB of ITO-1984, tax at source on export when the export is realized by commercial Bank.

The format, Calculation and Section of final settlement of tax to NBR after closing the audit by external Auditor to submit the return in specific announced date by the government.

XYZ Company

Details of Income Tax Calculation

For the Year Ended 30’June-2017

Assessment Year: 2017-2018

Particulars Tax Rate Amount In Taka Amount In Taka
Tax Deducted at Source U/S: 53BB of ITO-1984 7,475,000
Net Profit from Operation as per Audit Report 27,000,000
Income Tex Liabilities @ 12% 3,240,000
Tax Deducted at Source U/S: 53BB of ITO-1984 (7,475,000)
Income Tax Liabilities on Business Income (4,235,000)
Income from other Source 19,500,000
Income Tax @ 35% 2,345,000
Cash Incentive 3% 14,000,000 420,000
Bank Interest (STD, FDR, etc.) 35% 5,500,000 1,925,000
Less:
AIT on Bank Interest 10% 550,000
AIT on Bank Cash incentive 3% 420,000 (970,000)
Income Tax Liabilities on Others Income 3,315,000
Total Income Tax Liabilities 3,315,000
Authorized Representative
ITP

 

Banana Chop | Kolar Chop

Banana Chop | Kolar Chop, There are some test in the banana chop. Which is basically a useful diet for the body. And those who do not like to eat food are saying, “Today, I try to give it a little recipe to you and today. And I’ll present that process, it’s a lot of fun and delicious and tasty food. A food that comes out of water like a cold-colored chopper, at home and in a friend’s chat room, the banana Chop is a great breakfast and a fun meal. It will take a while to try it at home but it is very easy. For my convenience, I am from my YouTube channel. Connect the video and the following prepared procedures with ৤If you like it, please subscribe and share it

<span title=”প্রস্তুত প্রনালী :

“>Prepared System of Banana Chop:

<span title=”1৤ কাচা কলা 3টি, সিদ্ধ করে নিতে হবে ৤

“>1 ½ bitter banana 3, must be cooked ৤

<span title=”2৤ ডিম 1টি, সিদ্ধ করে নিতে হবে ৤

“>2৤ egg 1, boil it ৤

<span title=”3৤ ধনিয়া পাতা কুচি, মরিচ কুচি, পেয়াজ কুচি পরিমান মত ৤

“>3৤ coriander leaves, chopped capsicum, and onions like ৤

<span title=”4৤ লবন, জিরা গুরা, পাচফরন গুরা 1 চা চমাচ ৤

“>4৤ salt, cumin gura, pachafaran gur 1 teaspoon ৤

<span title=”5৤ ব্যাসনের ঘোল ৤

“>5৤ rotation wheels ৤

First of all, boiled eggplant buds should be thoroughly cleaned with boiled eggs. Then put all the ingredients together and paste it again. When it is pasted, it will be rounded and then flatten it in hot gram. Serve hot oil until it becomes red. <span title=”ভাজতে হবে ৤

“>To be fried ৤

It turned out to be a great deal of glass chopper ৤ great fun to eat ৤ Absolutely try out the house and subscribe to your feedback.

 

 

REVIEW AND PRACTICE ON DEFERRED TAX LIABILITY AND ASSET.

Any company are prepared pretax income statement for book purpose also they are compute tax for govt. tax regulation purpose respectively. So, for that two reasons some differences are exist, for example, in the timing of revenue recognition and the timing of expenses recognition.

The definition of deferred tax asset and liabilities are-

The deferred tax consequenes attributable to taxable temporary differences.

 

ABC Company pretax income BDT. 100000, Depreciation Charge in income statement is BDT. 30000 but tax purpose depreciation is BDT. 46000.

 

Rent income shown BDT. 120000, but Tax authority measure BDT. 22000 more.

 

Fine imposed for pullution shown as expenses BDT. 11000.

 

Tax Rate 30%

DTL = Deferred Tax Liability = Excess Depreciation to be charged as per tax authority.

Amount = BDT. 46000-30000 = 16000

DTA = Deferred Tax Asset = Excess Rent income Charged as per tax Authority.

Amount = BDT. 22000

So, Taxable income = (income as per book + non-allowable expenses) + Deferred tax asset (DTA) item – Deferred Tax Liability (DTL) item

=BDT.  (100000+11000)+22000-16000

= BDT. 116000

So, Journal Entry:

Dr. Income tax Expenses (100000+11000)*30%                             BDT. 33300

Dr. Deferred tax asset (22000*30%)                                                   BDT. 6600

Deferred tax liability (16000*30%)                                                           BDT. 4800

Income tax payable ( 116000*30%)                                                         BDT. 35100

 

if you have any queries please comments.