Income Tax Accounting mid exam spring 2025

Daffodil International University Faculty of Business & Entrepreneurship . ——l)epartment-of B istration Trimester: Spring-2026 -Time:. I .•50 Hours Course Code: 0411-323 Examination: Midterm Full Marks: 25 Course Title: Income Tax Accounting Section: Teacher's Name: SH/RM/MRJ • Answer all the questions Figures in the right-hand margin indicate marks • Answer all theparts of one question (eg- in one place Question-I : Interpret "Salary" according to section of ITA 2023. Contrast proportional ang degressive CLO-I, 1—2; (51 tax systems using an example. Quest ion-2: (a) Sikandar Raza born in Sialkot in the northeast of Pakistan. He made his international debut for Zimbabwe. in the first ODI against Bangladesh in 2013. Sikandar was firmly settled into his role as the most adventurous batsman in Zimbabwe's top order, with a fondness for carving the ball through and sometime Over point, and a useful side line as an off spinner. Mr. Raza came to Bangladesh og Januari l. 2025 to play ih BPEIn orper to qualify his team for the final, he stayed in Bangladesh to play thc final. In Raza has been playing in the BPL for the last five years. Fromthe beginning to the end Rya 35 days each year. u ire Use the given information in determining the residential status of Sikandar Raza for the income year 2024-2025 in accordance with section 2(45) of ITA 2023. CLO-2, L-3; 121 (b) Mr. Z is a service holder and his total income disclosed Tk 1 during income year 2024 *025. In addition, he has aisclosed his investment which includes savings certificaté Tk 300,000; DPS Tk 1 purchased three decil*l plot Tk 1 and deposit Tk 200,000. Mrü disclosed his net wealth Tk. Requircrpept; Use the given information in calculating the amount surcharge and tax rebate for the assessment year 2025-2026. CLO-2, L-3; 13] (c) Jannatul Ferdous, a hearing-impaired single mother of two chilgren, has been employed as a cashier for several Follouing the death orher husband in 2023, she successfully completed vocational training provided by PDFA and subsequently secured employment at Swapno. She currently resides with her two children within the Dhaka South City Corporation area. During the year 2024 2025, Jannatul Ferdous earned a total salary income of Tk 800,000 from her employment at Swapno. Requirement: Utilize the given informatibn to calculate her tax liaWlity for assessment year 2025- CL.o-2. L-3 [21 [Please sere next page/ @CamScanner• Question-3: Mr. - Mamun -is-as registered •taxpayer Ainder- the -Dhaka •North to from-agri • He sold 1000 Kgs ofrigg@ Tk. 60 per Kg. His production expenses are, cost ofseeds and fertilizer Tk- 15,000; labor cost Tk. 18,000; transportation costs Tk.3,000 and costs for ordinary processing Tk. 4,000. Requ irement: Utilize the given information to calculate the taxable income from Agriculture considering (i) he did not maintain proper books of accounts relating to production costs, and (ii) he maintains all books Of accounts relating to production costs. CLO-2, L-3; 131 Question-4: Ms. A is serving in A Lid as CFO. draws a monthly basic salary of Tk 150,000. She has also 0% ofherbasic salary as house rent allowance, as entertainment allowance, a full time 1500 cc) for personal and office use, and Tk 15,000 per month as medical allowance. She contributes of her basic salary to recognized provident fund. She has also received two festival bonuses (each equal to one-month basic salary) tl Ills f Tk 10,000 per month were paid by •ng the year she has claimed e following expenditures as her investment the company;. fa listed company's Tk 170,000; monthly contribution to iv pens- allowance. u scheme Tk. 5,000 and Purchase Of saving certTEFTk 240,000. Req uirenientsi (i) Analyze the at»ve information to compute the taxable income of Ms. A during the income year CLOG, LA; [31 e I nfomatlon to c—aility of assessment yar CLO-3, LA; [31 2025-2026. Question-5: Mr. Akbar is a registered taxpayer under the Dhaka South euporation. The following information.pertains to his income frorn house rent.He has a house at Dilkusha C/A with an area of 4,800 square feet. He let out this house for commercial purposes aton annual rent of Tk. 580,000. nfhunicipal value per square feet at Dilkuéha•rk. 120. During the year he received Tk. 15 000 as fee for letting out the rooftop community hall for a "Orkshop. According to the agreement, the tenant bears the water and gas bill Tk. 85,000 for the year. Expenses that were incurred during the income year includes: city corporatioÄ'k. 15,000; repair expenses —insurance premium Tk. night guard salary Tk. 7,000. During the year Mr. Akbar paid loan Instalment to Bank Tk. 67 ,500 (principal amount Tk. 64,000). Requirement: Examine the atxwe information to compute taxable for the income year CLO-3, L-4; [41 2024-25. @CamScanner•