Capital Gain
Assessee: MR. Hasan
Assesment Year: 2019-2020
Income Year: 2018-2019
Income Under " Capital Gain" (Sec31): Taka Taka Taka (a) Taka (b)
Sale Proceed of Capital Asset or 22,000,000
FMV at the Time of Tranfer, higher one 20,000,000 22,000,000
Less- Allowable Deductions
Expenditure to transfer the asset (Note 2) 440,000
Cost of Acquisition (Note 3) 10,170,000
Capital Expenditure for Asset improvement 10,610,000
Capital Gain 11,390,000 11,390,000
Less: Renivested Gain to rollover relief 10,000,000 11,390,000
Capital Gain Asessed (Note 4) 1,390,000 -
Tax Value of new asset nil 610,000
Taxable Income
Income from Interest on Securites(given) 200,000 200,000
Capital Gain (as calculated above) 1,390,000
Inome from other Sources (given) 100,000 100,000
Total Taxable Inome 1,690,000 300,000
Computation of Tax Liability:
Taxable Income Amount of Tax
Income Tier Case (A) Case (B) Rate Case A Case B
On First Taka 250,000 250,000 0% - -
On Next Taka 400,000 50,000 10% 40,000 5,000
On Next Taka 500,000 15% 75,000
On Next Taka 540,000 20% 108,000
Total 1,690,000 300,000 223,000 5,000
Aveage Tax Rate 13.20% 1.67%
Flat Rate 15.00% 15.00%
Tax on Capital Gain (13.20% on 1390000) 183,480 0
Tax on Remaning Tk 300000 will be @regular rate, (500000X10%) 5,000 5,000
Net Tax Liability 188,480 5,000
Capital Gain
Assessee: MRS J
Assesment Year: 2019-2020
Income Year: 2018-2019
Income Under " Capital Gain" (Sec31): Taka Taka
Sale Proceed of Capital Asset or 20,000,000
FMV at the Time of Tranfer, higher one 18,000,000 20,000,000
Less- Allowable Deductions
Expenditure to transfer the asset (Note 2) 400,000
Cost of Acquisition (Note 3) 9,130,000
Capital Expenditure for Asset improvement 9,530,000
Capiatl Gain
Less: Renivested Gain to rollover relief
Capital Gain Asessed (Note 4)
Income from Interest on Securites(given)
Capital Gain (as calculated above)
Inome from other Sources (given)
Total Taxable Inome
Taka (a) Taka (b)
10,470,000 10,470,000
10,000,000 10,470,000
470,000 -
400,000 400,000
470,000
100,000 100,000
970,000 500,000
Computation of Tax Liability:
Taxable Income Amount of Tax
Income Tier Case (A) Case (B) Rate Case A
On First Taka 300,000 250,000 0% -
On Next Taka 400,000 50,000 10% 40,000
On Next Taka 270,000 15% 40,500
Total 970,000 300,000 80,500
Aveage Tax Rate 8.30%
Flat Rate 10.00%
Tax on Capital Gain (8.30% on 470000) 39,010
Tax on Remaning Tk 500000 will be @regular rate (200000X10%) 20,000
Net Tax Liability 59,010
mount of Tax
Case B
-
5,000
5,000
1.67%
10.00%
0
20,000
20,000
Beginning raw materials 50,000 30,000
(+) Raw materials purchased 300,000 200,000
(-) Ending raw materials 45,000 35,000
Cost of raw materials used 305,000
(+) Direct labor (150,000×80%)
120,000
Prime cost 425,000
(+) Manufacturing overhead:
Indirect labor (150,000×20%)
30,000 30,000
Factory depreciation (40,000×70%)
28000 35,000
Factory rent 40,000 40,000
Factory insurance 30,000 30,000
Factory utilities 20,000 20,000
Factory supplies 15,000 15,000
Other factory expenses 15,000 15,000
Total Manufacturing overhead: 178,000
Manufacturing cost
603,000
(+) Beginning work-in-process
50,000
(-) Ending work-in-process
60,000
Cost of goods manufactured 593,000
(+) Beginning finished goods
55,000
(-) Ending finished goods
45,000
Cost of goods sold 603,000
(+) Gross profit (20×603,000/(100-20) 150750
Sales revenue 753,750
430,000 448,750
67312.5
195,000
120000
315,000
185,000
500,000
40,000
50,000
490,000 Value added = 753750-305,000 = 448750
55,000 VAT = 448,7500×15% = 67313
45,000
500,000
125000
625,000