This document summarizes key aspects of the Income Tax Ordinance 1984 of Bangladesh. It has 23 chapters and 187 sections that outline the procedural aspects of income tax law. Some key points include:
- It establishes different classes of income tax authorities like the National Board of Revenue, Commissioners of Taxes, Deputy Commissioners of Taxes, and Inspectors of Taxes.
- It covers the computation of income from various sources like wages, salaries, dividends, interest and rents.
- Other chapters address tax assessment, penalties, appeals, recovery of unpaid taxes, and provisions for double taxation relief and tax refunds.
- Schedules provide more details on assessment procedures, penalties that can be imposed
Income Tax is a direct tax on income and is charged for each year of income upon all the income of a person, whether resident or non-resident, which accrued in or was derived from Kenya.
Income Tax is a direct tax on income and is charged for each year of income upon all the income of a person, whether resident or non-resident, which accrued in or was derived from Kenya.
The basic concepts in Income tax such as assesse, assessment year previous year, etc are defined besides discussing the brief history of Income Tax....By...Dr. Thulasi Krishna. K
Under Fundamental Concepts of Income Tax Presentation, Important Definitions under Income Tax Act, Residential Status of the assesses & its tax incidence is covered.
What is Income Tax Return?
An income tax is a tax leviedupon income or profit earned by all individuals or businesses. Income Tax Return consist of various form swhich are filed by individual or business to provide information about their income and tax to income tax department. The forms included are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.
Details required for IT filings
Entity Name
Date of Incorporation
PAN number of the Company
Registered Office Address
Annual Income Details
Financial Reports for this year filing
Previous IT filing details (Financial Statements)
User ID & password for https://incometaxindiaefiling.gov.in site, if any
Due dates for filing IT return
July 31 : For individuals and firms who are not liable to audit
September 30 : Companies and others who are liable to audit
March 31 : Belated returns for individuals and companies
The basic concepts in Income tax such as assesse, assessment year previous year, etc are defined besides discussing the brief history of Income Tax....By...Dr. Thulasi Krishna. K
Under Fundamental Concepts of Income Tax Presentation, Important Definitions under Income Tax Act, Residential Status of the assesses & its tax incidence is covered.
What is Income Tax Return?
An income tax is a tax leviedupon income or profit earned by all individuals or businesses. Income Tax Return consist of various form swhich are filed by individual or business to provide information about their income and tax to income tax department. The forms included are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.
Details required for IT filings
Entity Name
Date of Incorporation
PAN number of the Company
Registered Office Address
Annual Income Details
Financial Reports for this year filing
Previous IT filing details (Financial Statements)
User ID & password for https://incometaxindiaefiling.gov.in site, if any
Due dates for filing IT return
July 31 : For individuals and firms who are not liable to audit
September 30 : Companies and others who are liable to audit
March 31 : Belated returns for individuals and companies
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Income tax
1. Submittedby: Submitted to:
Md. Saiful Islam AdvMd. Akramul Islam.
Id :160170419 Lecturer.
Departmentof Law Departmentof Law.
Northern university Bangladesh.
2. Tax
A tax (from the Latin taxo) is a mandatory financial charge or
some other typentie of levy imposed upon a taxpayer (an
individual or other legal ty) by a governmental organization in
order to fund various public expenditures.[1] A failure to pay,
along with evasion of or resistance to taxation, is punishable
by law. Taxes consist of direct or indirect taxes and may be
paid in money or as its labour equivalent.
3. Income tax
Annual charge levied on both earned income (wages, salaries, commission) and
unearned income (dividends, interest, rents). In addition to financing a
government's operations, progressive income taxation is designed to distribute
wealth more evenly in a population, and to serve as automatic fiscal stabilizer to
cushion the effects of economic cycles. Its two basic types are (1) Personal
income tax, levied on incomes of individuals, households, partnerships, and sole-
proprietorships; and (2) Corporation income tax, levied on profits (net earnings)
of incorporated firms. However, presence of tax loopholes (whose number
increases in direct proportion to the complexity of tax code) may allow some
wealthy persons to escape higher taxes without violating the letter of the tax
laws.
4. Income-tax authorities
3. There shall be the following classes of income-tax authorities for the purposes of this Ordinance, namely:-
• (1) The National Board of Revenue,
• 1[ * * *]
• 2[ (IB) Chief Commissioner of Taxes; ]
• 3[ (2) Directors-General of Inspection (Taxes),]
• 4[ (2A) Commissioner of Taxes (Appeals),]
• 5[ (2B) Commissioner of Taxes (Large TaxpayerUnit),]
• 6[ (2C) Director General (Training),]
• 7[ (2D) Director General, Central IntelligenceCell,]
• (3) Commissioners of Taxes,
5. • (3A) Additional Commissioners of Taxes who may be either Appellate Additional Commissioners
of Taxes or Inspecting Additional Commissioners of Taxes,]
• (4) Joint Commissioner of Taxes who may be either Appellate Joint Commissioner of Taxes or
Inspecting Joint Commissioner of Taxes,
• (5) Deputy Commissioners of Taxes,
• 9[ (6) Tax Recovery Officers nominated by the Commissioner of Taxes among the Deputy
Commissioner of Taxes within his jurisdiction;]
• (7) Assistant Commissioners of Taxes,
• (8) Extra Assistant Commissioners of Taxes, and
• (9) Inspectors of Taxes.
6. Summary of Income tax Ordinance 1984...
• Come into force 1st july 1984
• Total chapters 23
• Total section 187
• Sub section numerous
• Total schedules 7
• This schedule containing provisions regarding assessment , penalty
,appeal etc.
• Its totally a procedural law…
7. Chapter Section title
1 1-2 preliminary
2 3-10 administration
3 11-15 Taxes appellatetribunal
4 16-19 Charge of income tax
5 20-43 Computationof income
6 44-47 Exemption of allowances
7 48-74 Payment of tax before assesement
8. Chapter section title
8 75-80 Return and statement
9 81-94 Assessment
10 95-103 Liabillityin special cases
11 104-107 Special provision relating to
avoidanceof tax
12 108-110 Requirement of furnishing certain
information
13 111 Registrationof firms
14 112-122 Powers of income tax authority
9. Chapter Se22ction title
15 123-133 Imposition of penalty
16 134-143 Recovery of tax
17 144-145 Double taxationrelief
18 146-152 Refunds
19 153-162 Appeal and referemce
20 163 Protection and information
21 164-171 Offences and presecution
![Tax
A tax (from the Latin taxo) is a mandatory financial charge or
some other typentie of levy imposed upon a taxpayer (an
individual or other legal ty) by a governmental organization in
order to fund various public expenditures.[1] A failure to pay,
along with evasion of or resistance to taxation, is punishable
by law. Taxes consist of direct or indirect taxes and may be
paid in money or as its labour equivalent.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)