PSR
What is Surcharge? Surcharge on income tax in Bangladesh – Surcharge which can also be referred to as an additional charge, fundamentally represents a tax imposed on an existing tax. This additional fee is computed based on the payable tax rather than the total income generated. Specifically, in the context of income tax, a surcharge […]
Surcharge on income tax in Bangladesh 2023-24 Read More »
What is the Carbon Tax on Vehicles? Carbon Tax on Vehicles – A carbon tax is a tax applied to the combustion of carbon-based fuels such as coal, oil, and gas. It serves as a fundamental policy to curtail and ultimately phase out the utilization of fossil fuels, whose combustion contributes to the destabilization and
Environmental Surcharge – Carbon Tax on Vehicles in Bangladesh Read More »
What is a Statement of Lifestyle expenses IT 10BB FORM ? A Statement of Lifestyle Expenses IT 10BB FORM serves as a comprehensive documentation designed to delineate the intricate details of an individual assessee’s lifestyle expenditures in a financial year. This statement, denoted as “IT 10BB FORM”, encapsulates a specified form that is annexed to
Who needs to file Statement of Lifestyle Expenses IT 10BB Form in Bangladesh? Read More »
What is Assets and Liabilities Statement (IT 10B)? An Assets and Liability Statement, also known as IT 10B, is a form used to represent the financial status of an individual at the end of a financial year. It provides a comprehensive overview of the assessee’s assets and liabilities, offering insights into their financial standing. The
Who needs to file Assets and Liabilities Statement IT 10B in Bangladesh? Read More »
What is Final Tax? Final tax is a tax that is deducted/ collected directly from a person’s income at the source, such as when they receive interest on government securities (Sanchaypatra) or sell land. The individual who receives the income does not need to make any additional tax payments when they file their income tax
Final Tax – Tax on Land Sale in Bangladesh 2023 Read More »
Introduction – Tax on Sanchayapatra Interest Tax on Sanchayapatra Interest – Interest earned from Sanchayapatra is the final tax settlement under Income Tax Act 2023. We will discuss the details of tax calculation of Sanchayapatra interest income here. What is Final Tax Settlement? Final tax settlement is the amount of tax that has been deducted
Final Tax – Tax on Sanchayapatra Interest 2023 Read More »
Introduction – Difference between TDS and TCS in Bangladesh Difference between TDS and TCS in Bangladesh – TDS and TCS stand out as two pivotal streams of revenue for the government, constituting indispensable facets of financial governance. From the taxpayer’s perspective, these mechanisms are routine elements in the landscape of day-to-day business operations and economic
Difference between TDS and TCS in Bangladesh Read More »
Introduction – Penalty for late filing of Tax Return​ Penalty for late filing of Tax Return​ – Late filing of an income tax return can lead to the forfeiture of several income tax benefits and may result in additional tax liability under the Income Tax Act 2023. In this blog post, we will discuss the
What is the penalty for late filing of tax return in Bangladesh ? Read More »
Introduction – How much should we invest for tax purposes How much should we invest for tax purposes – As a salaried individual, it’s necessary to allocate a portion of your income towards eligible investments to qualify for tax rebates. Determining the optimal amount of investment for maximizing tax rebates can be a complex task.
Investment Tax Rebate – How much should we invest for tax purposes 2023? Read More »
Introduction – Investment for Tax Purposes Investment for Tax Purposes – If you are a taxpayer in Bangladesh, you must be aware of the allowable investment options to get investment tax allowance. Investing in the permitted sectors offers two-fold benefits: firstly, it allows you to save money for the future, and secondly, and perhaps more
Allowable investment for Tax Purposes in Bangladesh 2023 Read More »
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