Computation of Taxable income from salary u/s-21 at a glance:
|
Description |
Amount that
will be added with salary |
|
1.
Basic Salary |
Full |
|
2.
Dearness Allowance |
Full |
|
3.
Bonus |
Full |
|
4.
Commission and Fees |
Full |
|
5.
Advance salary |
Full |
|
6.
Arrear salary |
Full
, provided that it was not taxed in earlier years |
|
7.
Leave Encashment |
Full |
|
8.
Approved Pension |
Nothing,
since fully tax free |
|
9.
Approved Gratuity |
Amount
exceeding Tk. 2.5 Crore |
|
10.
Annuity |
Full |
|
11.
Profit in lieu of salary |
Full |
|
12.
Profit in addition to salary |
Full |
|
13.
Education allowance for children |
Full |
|
14.
Employer’s Contribution to RPF |
Full |
|
15.
Employer’s Contribution to Employee’s life
insurance policy |
Employer’s
Contribution to RPF |
|
16.
Entertainment Allowance |
Full |
|
17.
Medical Allowance |
10%
of basic or Tk. 120,000 whichever is lower is exempted. The rest amount will
be added with income. However , the limit for disabled employee is Tk. 10,00,
000 with some conditions |
|
18.
Travelling Allowance |
Unspent
Amount |
|
19.
Special Allowance |
Nothing,
if given and spent for official purpose |
|
20.
House Rent Allowance |
Actual
allowance less exemptions of Tk. 25,000 p.m (Annually Tk. 300,000) or 50% of
basic salary whichever is less |
|
21.
Rent free Accommodation |
Rental
Value or 25% of basic whichever is less |
|
22.
Accommodation at concessional rate |
Rental
value or 25% of basic whichever is less, minus deducted rent. |
|
23.
Conveyance Allowance |
Actual
amount less exemption of Tk. 30,000 on an annual basis. |
|
24.
Transport/Conveyance Facility |
5%
of Basic salary or Tk. 60,000 whichever is higher if full time car facility
is given. Nothing will be added if it is given only for official purpose. |
|
25.
Interest on RPF |
Actual
Interest less exempted to the extent of 1/3rd of salary.(here
salary means basic and dearness allowance) or @14.5% whichever is less. |
|
26.
Free tea coffee, or light beverage in official
premises |
Nothing |
|
27.
Free dress, telephone, power, gas, water in office
etc. |
Full |
|
28.
Servant Allowance |
Full |
|
29.
Compensation |
Full |
|
30.
Allowance received as head of the
department/charge allowance |
Fully
tax free if it spent for official purpose.[6th Schedule (Part-A)
Para-5] |
|
31.
Overtime |
Full |
|
32.
Residence telephone bills/utility bills/club bills
reimbursed |
Full |
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