Let's Learn How To Pay Income Tax In Bangladesh - club100
Assalamu alaykum. How are you all?
There are many people in Bangladesh who handle the income tax that you have to pay at the end of each financial year. But there are a lot of people who get into trouble. You make mistakes due to lack of information, you get in trouble. This is especially true for those who are paying new income tax. Income tax lawyers have given important information about income tax.
Who Wears Under Income TAX
The first thing to know about income tax is how much is its income, and whether it is later covered by income tax. Under the Income Tax Act, there are seven types of income tax. E.g.-
- Salary from job,
- Income from business,
- Money from rent,
- Proceeds from sale and transfer of any property,
- Interest on collateral (savings certificates, bonds, bank interest, etc.),
- Income from agriculture.
- And there are others who can wear a lot.
How Much Income Is Taxable
If you are a man and your annual income is two and a half lakh, then you have no income tax. However, if you go above the income, you will fall under the income tax.
And for women, tax exemption up to three lakh rupees per annum. But if he goes above it, he will wear it under the tax. Excluding your first two and a half lakh or three lakh rupees as a man or woman, you will get ten percent tax for the next four lakh rupees. The tax rate rises in direct proportion to the amount of money earned.
How To Pay Taxes
First you need to get a TIN number or a tax identification number. To do that you have to go to the website of the Board of Revenue and open an account there. There you have to give some information like national identity card number, name identity.
Getting a TIN number means you have created an identity of your own regarding income tax. The first letter of your name, the first letter of the name of your work organization, depending on the address of your residence in which tax area you are wearing.
Then calculate your total annual income. Understand whether you are covered by income tax. If you are under income tax, calculate the amount of tax according to the annual income. You will give whatever comes to the government.
You can deposit the money through the bank. Or you can pay the tax directly by ordering pay along with the Deputy Commissioner Taxation Officer of that tax region.
In any case you will get the benefit of discount
In some cases you will get some discount. Some of these are if you have bought government savings certificates for different periods, invested in the stock market, have life insurance, in some cases you will get the benefit of a certain amount of tax exemption.
In this case, the income tax lawyers said, it is best to buy and keep government savings certificates. Savings certificates are considered to be the most risk free. You can buy it through savings bureau, post office or bank.
Many thanks to all of you for reading my post. I have tried my best to present to you all the information related to income tax. We hope that by reading this blog you will be able to know about the rules of paying income tax in Bangladesh. Thanks everyone.
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