TDS u/s 52 for payment against contract/supply of goodsMasum Gazi
All about Tax Deduction at Source (TDS) under section 52 and rule 16 for the execution of a contract, supply of goods, manufacture, process or conversion, printing, packaging or binding, etc. applicable for Financial Year (FY) 2021-2022.
In a manufacturing and trading business, almost 50%-70% deduction falls under section 52 and rules 16. So if the deduction under section 52 complies, then 50%-70% deduction compliance has been made by the organization.
TDS u/s 52 for payment against contract/supply of goodsMasum Gazi
All about Tax Deduction at Source (TDS) under section 52 and rule 16 for the execution of a contract, supply of goods, manufacture, process or conversion, printing, packaging or binding, etc. applicable for Financial Year (FY) 2021-2022.
In a manufacturing and trading business, almost 50%-70% deduction falls under section 52 and rules 16. So if the deduction under section 52 complies, then 50%-70% deduction compliance has been made by the organization.
VDS Guideline and VAT rate for the FY 2020-2021Masum Gazi
Guideline for VAT deduction/collection at source as per VDS Rules 2020 (SRO. No. 149-Law/2020/110-Mushak, dated 11 June 2020 & SRO. No. 180-Law/2020/120-Mushak, Dated: 30 June 2020) and VAT rate for all services for the FY 2020-2021 in comparison with FY 2019-2020 updated on 30 June 2020
TDS rate in Bangladesh for the FY 20-21 in comparison with FY 19-20 and regul...Masum Gazi
Tax Deducted at Source (TDS)/Collected at Source (TCS) in Bangladesh for the FY 2020-21 in comparison with the FY 2019-20 and regular requirements/compliance under Income Tax Ordinance and Rules 1984 in Bangladesh.
Guidelines for vat deduction at source and vat rate for 2021 22-updated 02 ju...Masum Gazi
Guidelines for VAT Deduction at Source (VDS) and VAT & SD Rate for the FY 2021-2022 compared with the FY 2020-2021 updated as per SRO 240/2021; dated: 29 June 2021.
National Board of Revenue of Bangladesh published clarification re changes made in Income Tax Ordinance 1984 by Finance Act 2019. This is very useful as it contains details explanation with illustration.
Rates of TDS or TCS and regular requirements under income tax ordinance and r...Masum Gazi
Tax Deducted at Source (TDS)/Collected at Source (TCS) in Bangladesh for the FY 2021-22 in comparison with the FY 2020-21 and regular requirements/compliance under Income Tax Ordinance and Rules 1984 in Bangladesh.
Summary of changes in vat deduction at source sandra & associatesKhalid Iftekhar
Every year Bangladesh Government brings changes in the VAT law. In 2019, Bangladesh Government brought a new law called Value Added Tax and Supplementary Duty 2012.
This snapshot reflects the differences between the two laws in respect to withholding VAT regime. I hope the users will find this helpful
VDS Guideline and VAT Rate for the FY 2020-2021 in comparison with FY 2019-2020Masum Gazi
Guideline for VAT deduction/ collection at source as per VDS order 2020 (SRO. No. 149-Law/2020/110-Mushak) and VAT rate for all services for the FY 2020-2021 in comparison with the FY 2019-2020.
VDS Guideline and VAT rate for the FY 2020-2021Masum Gazi
Guideline for VAT deduction/collection at source as per VDS Rules 2020 (SRO. No. 149-Law/2020/110-Mushak, dated 11 June 2020 & SRO. No. 180-Law/2020/120-Mushak, Dated: 30 June 2020) and VAT rate for all services for the FY 2020-2021 in comparison with FY 2019-2020 updated on 30 June 2020
TDS rate in Bangladesh for the FY 20-21 in comparison with FY 19-20 and regul...Masum Gazi
Tax Deducted at Source (TDS)/Collected at Source (TCS) in Bangladesh for the FY 2020-21 in comparison with the FY 2019-20 and regular requirements/compliance under Income Tax Ordinance and Rules 1984 in Bangladesh.
Guidelines for vat deduction at source and vat rate for 2021 22-updated 02 ju...Masum Gazi
Guidelines for VAT Deduction at Source (VDS) and VAT & SD Rate for the FY 2021-2022 compared with the FY 2020-2021 updated as per SRO 240/2021; dated: 29 June 2021.
National Board of Revenue of Bangladesh published clarification re changes made in Income Tax Ordinance 1984 by Finance Act 2019. This is very useful as it contains details explanation with illustration.
Rates of TDS or TCS and regular requirements under income tax ordinance and r...Masum Gazi
Tax Deducted at Source (TDS)/Collected at Source (TCS) in Bangladesh for the FY 2021-22 in comparison with the FY 2020-21 and regular requirements/compliance under Income Tax Ordinance and Rules 1984 in Bangladesh.
Summary of changes in vat deduction at source sandra & associatesKhalid Iftekhar
Every year Bangladesh Government brings changes in the VAT law. In 2019, Bangladesh Government brought a new law called Value Added Tax and Supplementary Duty 2012.
This snapshot reflects the differences between the two laws in respect to withholding VAT regime. I hope the users will find this helpful
VDS Guideline and VAT Rate for the FY 2020-2021 in comparison with FY 2019-2020Masum Gazi
Guideline for VAT deduction/ collection at source as per VDS order 2020 (SRO. No. 149-Law/2020/110-Mushak) and VAT rate for all services for the FY 2020-2021 in comparison with the FY 2019-2020.
Our Tax team has summarised the important compliance related provisions of Income Tax Act 1961 and prepared the compliance hand book for easy reference.
Major highlights of Nepal Budgets for FY 2074/75 presented by Honorable Finance Minister Mr. Krishna Bahadur Mahara in the House of Assembly on 29 May, 2017.
Finance Act 2016 Amendments in Income Tax Laws - A Y 2017-18CA Janardhana Gouda
Finance Act 2016 Amendments in Income Tax Laws applicable for Assessment year 2017-18 on wards. Major Amendments for Individuals, Companies and Changes in TDS and TCS Provisions etc
Every year in finance act few changes are brought.There are also few changes in 2017-18 finance act in terms of corporate taxation.Taxation changes are highlighted here.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
1. ITA 2023
Section
Particulars OTA 2023 Rate
Minimum
Tax
ITO 1984
Compared
ITO 1984
Rate
Comments
Sec 86
Deduction of tax at source from income from employment [
only inclusion: TDS on payment from accumulated balance of
approved provident fund as per 2nd schedule, part-3,para-6
Average Rate No Sec 50 Average Rate Almost Same
Sec 87
Deduction of tax from remuneration to members of
parliament
Average Rate No Sec 50B Average Rate No Changes
Sec 88 Deduction from payment to workers' participation fund 10% Yes Sec 52DD 5%
Conditions for
non- deduction
deleted
Sec 89 Deduction from payment to contractor, suppliers etc.
Not Exceeding
10%
Yes Sec 52
Rule 16 of the
ITO-1984 is
applicable
Provision and
conditions deleted
Sec 90 Deduction from the payment services
Not exceeding
20%
Yes Sec 52AA
Service-wise
Table
Table Deleted
Sec 91 Deduction from payment for Intangible assets
10% & 12%
(Base value 25
lac or more
Yes Sec 52A
10% & 12%
(Base value
25 lac or more
No Changes
Sec 92 Deduction of tax from advertising bill of media broadcasting 5% Yes Sec 53K 4%
Conditions for
non- deduction
deleted
Sec 93 Deduction from payment to actors, actresses, producers, etc. 10% No Sec 53D 10%
Conditions for
non- deduction
deleted
Sec 94
Deduction or collection at source from commission, discount,
fees etc.
10%, 5%,3% Yes Sec 53E 10%, 5%,3%
No Changes, Firm
has been included
as deduction
authority
Sec 95 Collection of tax from travel agent 0.3% Yes Sec 52JJ 0.3% No Change
Sec 96 Deduction from the commission of letter or credit 5% No Sec 52I 5% No Change
Sec 97 Deduction from payment on account of local letter of credit 3%, 2%, 1% No Sec 52U 3%, 2%, 1% No Change
Sec 98
Deduction of tax from payments by cellular mobile phone
operators
10% No Sec 52V 10% No Change
Sec 99
Deduction of tax from any payment in excess of premium pain
on life insurance policy
5% No Sec 52T 5% No Change
Sec 100 Deduction from insurance commission 5% Yes Sec 52G 5% No Change
Sec 101
Deduction at source from fees, etc. of surveys of general
insurance company
15% Yes Sec 52GG 10% Changes
Sec 102
Deduction from interest on saving deposit and fixed deposit
etc.
20%,10%,5% Yes Sec 52F 20%,10%,5% No Change
Sec 103
Deduction at source from interest on deposit post office
savings bank account
10% No Sec 53I 10% No Change
Sec 104 Deduction from interest income of resident 10% No N/A N/A New Section
Sec 105 Deduction from interest of saving instruments 10% Yes Sec 52D 10% No Change
Sec 106 Deduction at source from interest on securities 5% Yes Sec 51 5% No Change
Sec 107
Deduction at source from discount on the real value of
Bangladesh Bank bills
Maximum Rate No Sec 50A
Maximum
Rate
Proviso for non-
deduction deleted
Sec 108
Deduction of tax from receipts in respect of international
phone cell
1.5% , 7.5% Yes Sec 52R 1.5% , 7.5% No Change
Sec 109 Deduction of tax at source from rent 5% No
Sec 53A &
53J
5% No Change
Sec 110
Deduction of tax for rendering , services from convention hall,
conference centre etc.
5% Yes Sec 52P 5%
Proviso for non-
deduction deleted
Sec 111
Deduction at source from compensation against acquisition of
property
6%, 3% Yes Sec 52C 6%, 3% No Change
Sec 112 Deduction of tax at source from export cash subsidy 10% Yes Sec 53DD 10% No Change
Sec 113
Deduction of tax at source from freight forward agency
commission
15% Yes Sec 52M 15% No Change
Sec 114 Deduction of tax against purchase of power 6% Yes Sec 52N 6% No Change
Sec 115
Deduction of tax from income received from real estate
developer to land owner
15% Yes Sec 53P 15% No Change
Sec 116
Deduction of tax from commission or remuneration paid to
agent of foreign buyer
10% Yes Sec 53EE 10% No Change
Income Tax Act-2023 & Income Tax Ordinance 1984 Significant Difference
Change in provisions of Tax Deduction at Source "TDS"
Prepared by Fintax Bangladesh Advisory Services
2. Sec 117 Deduction of tax from dividends
Applicable rate
10% / 15%
Yes Sec 54
Applicable
rate 10% /
15%
No Change
Sec 118 Deduction from income from lottery etc. 20% Yes Sec 55 20%
Online game has
been included
Sec 119 Deduction or collection of tax from income of non-residents
Not Exceeding
30%
No Sec 56
Service-wise
Table
TDS must be in
name of non-
Resident
Sec 120 Collection of tax from importer
Not Exceeding
20%
Yes Sec 53
Not
Exceeding
20%
No Change
Sec 121 Collection of tax from export manpower 10% Yes Sec 53B 10% No Change
Sec 123 Collection of tax from export income
1%, reduce,
exemption
Yes Sec 53BB
1%, reduce,
exemption
No Change
Sec 124
Deduction of tax from any income remitted from aboard in
connection with any service, revenue, sharing etc.
10%, 7.5% Yes Sec 53Q 10%, 7.5% No Change
Sec 125 Collection of tax on transfer etc. of property
Tk. 20 lac per
katha (1.65
decimal) for
land , Tk. 1000/-
per sqm for
any structure ,
building, flat,
apartment or
floor space,
10% of the
deed value
Yes Sec 53H Table wise Changes in Rate
Sec 126 Collection of tax from real estate or land developer
Not exceed
higher of the
following: Tk.
1600/-Sqm for
using resident),
Tk. 6500/- for
using
commercial
sqm, 5% of the
deed value
Yes Sec 53F Table wise Changes in Rate
Sec 127
Collection of tax from commission on govt. stamp, court fees
and cartridge paper
4% Yes N/A N/A New Section
Sec 128 Collection of tax from lease of property 4% Yes Sec 53H 4% No Change
Sec 129 Collection of tax from cigarette manufacturers 10% Yes Sec 52B 10% No Change
Sec 130 Collection of tax from brick manufacturers
one Section-
45K, one and
half-70K,two
section-
90k,auto-150K
No Sec 52F Table wise No Change
Sec 131
Collection of tax at the time of issuance or renewal of trade
license
City-3K, other
city-
2K,Municipal
(city)-1K,
Municipal
(other)-500/-
No Sec 52K
City-3K, other
city-
2K,Municipal
(city)-1K,
Municipal
(other)-500/-
No Change
Sec 132 Collection of tax from shipping business of a resident 5%, 3% Yes Sec 53AA 5%, 3% No Change
Sec 133 Collection of tax on sales by public auction 10% , 1% (tea) Yes Sec 53C 10% No Change
Sec 134
Collection of tax from transfer of share of private limited
company
15% on face
value or fair
value
Yes N/A N/A New Section
Sec 135 Collection of tax from transfer of securities 5% Yes Sec 53M 5% No Change
Sec 136
Collection of tax from transfer of share of shareholder of stock
exchanges
15% Yes Sec 53N 15% No Change
Sec 137 Collection of tax from member of stock exchanges
0.05% on
transaction
value
Yes Sec 53BBB 0.05%,10% New condition
Sec 138 Collection of tax from motor vehicles plying commercially rate as per table Yes Sec 53BBQ
rate as per
table
No Change
Sec 139 Collection of tax from operations of marine vessels rate as per table Yes Sec 53R
rate as per
table
No Change