Many taxpayers are afraid of taxation money. Every year, the National Board of Revenue (NBR) paid thousands of taka. But you know, you can reduce the burden of taxes if you want. The amount that will be taxed at the end of the year, it can be reduced by investing tax rebate. Of course, for that, there will be an additional amount of money to invest after the whole year's cost of living. If you invest in that particular sector of the government, you will also get tax credit. By the end of the year, tax on you will decrease due to investment.
The easiest and best way to adjust the tax is by investing in a savings sheet. Even if the money is kept in the fund or provident fund, this facility will be available
Find out. The tax rebate, however, will be used to buy shares. In all, there are 25 sectors, where investing can easily reduce the burden of tax on the end of the year.
It is possible to submit the annual income tax return in the current year till November 30. There is only one month time. While preparing now, please know where the tax exemption benefit is available.
Where to invest
Recently, NBR has released guidelines for submitting tax returns for the current season. There has been talk of investing in 25 sectors to get tax exemption. One of the sectors to buy savings paper; Government officials' provident fund fund; Employers and officials of the recognized provident fund; Life insurance premiums; Funds for welfare funds and community funding; Funds offered by Super-Enhanced Fund; Any scheduled bank or financial institution deposits pension scheme (DPS) annually invested 60 thousand rupees; Investments in the shares, stocks, mutual funds or debentures of the listed companies in the stock market; Investments in government approved Treasury bonds; Buying a computer or laptop; Grants-in-aid to national level organizations in memory of Father of the Nation. Apart from this, donations in some sectors of public welfare activities will be available. These are zakat funds; NBR approved charity hospital; Organizations established for the welfare of disabled people; Liberation War Museum; Aga Khan Development Network; Ahsania Cancer Hospital; ICDDRB; CRP (Savar); Government approved public welfare or educational institutions; Asiatic Society; National Association for the memory of the Dhaka Ahsania Mission Cancer Hospital and the War of Liberation.
How to get the benefits
Let's come now, how do you get tax credit benefits against investment. Any taxpayer will be able to invest up to 25 percent of his annual income but get tax credit. However, the amount of tax on which the tax will be levied, it has also specified the NBR.
If any taxpayer's income is up to 10 lakhs, he will get tax rebate at 15 percent. That person will be able to invest up to 25 percent of his income or 2.5 million rupees. Then the taxpayer will get 15% tax relief. This means that the person has to pay the tax on the amount of tax of Tk. 37 thousand. Whatever the amount of tax at the end of the year, the tax rebate will be deducted at Tk 37 thousand.
For example, if the annual income of a taxpayer is 10 lakh rupees, the tax-free income limit will be 2.5 lakh, then the taxable income of that person will be 7.5 million taka. Taka 7.5 million taka for the first four lakh taka 10 percent, 40 thousand taka, the next three and a half lakh taka 15 percent for the rate of Tk 52 thousand taka will be added. In total, the total tax of the person will be 9.2 thousand taka. For the investment, the taxpayer will get tax rebate of Tk 37,000. As a result, the taxpayer will have to pay Tk 55,000 to the taxpayers after the benefit of Reyat.
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