About The Income Tax Ordinance, 1984
 |
| income tax ordinance 1984 bd/taxbd99.blogspot.com |
•Sections : 187
•Chapter: from I to XXIII ( total number of chapters: 24)
•Schedule: from first schedule to seventh schedule.
•First schedule has 3 parts, Part A, B and C.
•Fifth schedule has 2 parts, Part A and B.
•Sixth schedule has 2 parts, Part A and B.
Heads of Income at a Glance
Salaries : 21 of ITO, 1984, Rules 33A-33J of the Income Tax Rules, 1984
Interest on Securities : 22 of ITO, 1984.
Rules: 23 of ITO, 1984
Income from House Property : 24 of ITO, 1984, Rules: 25 of ITO, 1984
Special Provision: Rule 8A: Separate Bank Account for House Property income,
Agricultural Income : 26 of ITO, 1984 , Rules: 27 of ITO, 1984
Income from business or Profession: 28 of ITO, 1984 Rules: 29 of ITO, 1984
Special Provision: 3rd schedule for depreciation allowance Allowable
Capital gain : 31 of ITO, 1984
Rules: 32 of ITO, 1984
expenditure may not be allowed under certain circumstances- section 30
Income from other sources :
33 of ITO, 1984, Rules: 34 of ITO, 1984
Note: Rules means Income tax manual 2. Special Provisos Means Schedule 1-7
vFailure to pay Advance tax: Additional amount similar to amount not paid
vNon-compliance of notice: Same amount of tax
vTax on return income not paid: Maximum 25% of the tax
vConcealment of income: 15% penalty per year
vFalse Audit report submission: 2 lakh taka for CA
v Fake audit report: 1 lakh taka for assessee
vNo penalty without hearing assessee.
vDefault in payment of tax: Same amount as defaulted
Agricultural Income : 26 of ITO, 1984 , Rules: 27 of ITO, 1984
Income from business or Profession: 28 of ITO, 1984 Rules: 29 of ITO, 1984
Special Provision: 3rd schedule for depreciation allowance Allowable
Capital gain : 31 of ITO, 1984
Rules: 32 of ITO, 1984
expenditure may not be allowed under certain circumstances- section 30
Income from other sources :
33 of ITO, 1984, Rules: 34 of ITO, 1984
Note: Rules means Income tax manual 2. Special Provisos Means Schedule 1-7
PENAL TY IMPOSED BY DCT
vNon-submission
of tax return: Taka 1,000/- for default and Tk 50/- per day or 10% of the
previous tax
v Fake
TIN use: Taka 50,000/-vFailure to pay Advance tax: Additional amount similar to amount not paid
vNon-compliance of notice: Same amount of tax
vTax on return income not paid: Maximum 25% of the tax
vConcealment of income: 15% penalty per year
vFalse Audit report submission: 2 lakh taka for CA
v Fake audit report: 1 lakh taka for assessee
vNo penalty without hearing assessee.
vDefault in payment of tax: Same amount as defaulted
