TAXATION ASSIGNMENT 01 Last Date: 15th October, 2012

PROBLEM 01 Mr. Razib is the accounts manager of White Shark Communications Limited. He states the following income under different heads for the income year ended 30th June 2011: Income from salary: Mr. Razib joined the firm on 1st January 2010 and is entitled to receive basic salary of Tk. 10,000 per month with an annual increment on 1 st January every year by 10% of latest basic salary. He is entitled to receive accommodation facilities provided by his employer for which he will be charged 5% of his basic salary and two festival bonuses (one after increment and one before increment). He received Tk. 1,000 per month as mobile bill allowance, Tk. 2,200 per month as conveyance allowance; Tk. 30,000 as overtime allowance. Income from Security: Mr. Razib invested Tk. 1,00,000 in a 11% tax free govt. security; tk. 1,20,000 in a 2% less tax government security. During the year his income from approved zero coupon bond was Tk. 1000. Bank charged Tk. 1500 to collect above mentioned interests. He has claimed the following expenditures as her investment allowance during the year: 1. Insurance premium Tk. 30,000(Policy value Tk. 2,50,000) 2. House hold expenses Tk. 2,00,000 3. Purchase of savings certificate Tk. 1,50,000 4. Donated Tk. 50,000 to the Presidents Relief Fund 5. Installment paid for a 5 Katha plot to the Bashundhara Group Tk. 40,000. Calculate his net tax liability for the income year 2010 2011. PROBLEM 02

INSTRUCTIONS: 1. 2. 3. 4. 5. This is an individual assignment. Assignment should be hand written. Use A4 size pages. Use AIUB Cover Page Deadline: 15th October, 2012