Bangladesh Direct Taxes In Bangladesh Md Syedur Rahman Id:053-218-530 Parvez Akhter Linkon 053-225-530 Id: Act-322 {MBR} Direct Taxes In Bangladesh A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state. Taxes consist of direct taxes and indirect taxes. “Pecuniary burden laid upon individuals or property to support the government a payment exacted by legislative authority”. Tax is not a voluntary payment or donation
Words: 9825 - Pages: 40
like Reliance, Talco Bajaj Auto, Infosys Technologies, Hindustan Lever Ltd., Ranbaxy Laboratories Ltd., and Larsen and Tubro etc. 1.2 MEANING OF COMPANY Section 3 (1) (i) of the Companies Act, 1956 defines a company as “a company formed and registered under this Act or an existing company”. Section 3(1) (ii) Of the act states that “an existing company means a company formed and registered under any of the previous companies laws”. This definition does not reveal the distinctive characteristics of a company
Words: 114216 - Pages: 457
for: (1) Goods and other tangible property received; (2) services performed by employees, contractors, subgrantees, subcontractors, and other payees; and (3) other amounts becoming owed under programs for which no current services or performance is required, such as annuities, insurance claims, and other benefit payments. Accrued income means the sum of: (1) Earnings during a given period from services performed by the grantee and goods and other tangible property delivered to purchasers, and (2)
Words: 18200 - Pages: 73
THE SALE OF GOODS ACT Contract of sale: A contract of sale of goods is a contract where by the seller transfers OR agrees to transfer the property in the goods to the buyer for a price. Such a sale may be absolute OR conditional. Where under a contract of sale the property in the goods is transferred from the seller to the buyer the contract is termed as sale. Where the transfer of property in the goods is to take place at a future date OR after certain conditions are fulfilled the contract
Words: 3479 - Pages: 14
Introduction: In an agrarian society, ‘property’ included land and a few other agricultural and non-agricultural assets. With progresses and economies grew, a vast multitude of new assets emerged. Whereas ‘real property’ refers to real assets (such as land, natural objects on the land and improvements or constructions), ‘wealth’ is a multifaceted concept which includes value of real assets as well as bank deposits, businesses, shares and other financial instruments, personal assets (motor vehicles
Words: 889 - Pages: 4
MLPA 1) Definitions: Money laundering means-1. To transfer ,convert, remit, from or to Bangladesh the money or properties acquired through commission of any predicate offence with an intention to conceal or disguise the illicit origin of the property or smuggle money and property earned through legal and illegal means abroad. 2.to conduct, or attempt to conduct a financial transaction with intent to avoid a reporting requirement under this act. 3.to do or to do attempt to do such activities
Words: 4603 - Pages: 19
Resources Module 10: Transfers of property among family members Overview The transfer of property between persons not dealing at arm’s length is one of the elements that must be considered in taxation to ensure that there are no unexpected tax consequences. The ITA contains rules to prevent tax benefits inconsistent with the spirit of the ITA when people are not dealing with each other at arm’s length. These rules apply mainly where the beneficiary of the transfer or loan of property does not give
Words: 9446 - Pages: 38
like Reliance, Talco Bajaj Auto, Infosys Technologies, Hindustan Lever Ltd., Ranbaxy Laboratories Ltd., and Larsen and Tubro etc. 1.2 MEANING OF COMPANY Section 3 (1) (i) of the Companies Act, 1956 defines a company as “a company formed and registered under this Act or an existing company”. Section 3(1) (ii) Of the act states that “an existing company means a company formed and registered under any of the previous companies laws”. This definition does not reveal the distinctive characteristics of a company
Words: 114302 - Pages: 458
dictionary equity is the quality of being fair and impartial but legally there is no proper definition for equity but it can be described up to a certain standard. It is about flexibility, justice and fairness which require discretion and uncertainty. It acts as a supplement to the common law. Such as: Land Law, Contract Law, and Tort. Equity developed due to the lack of remedies and non-fulfillment of the common law and it could be said that equity came after the birth of common law to correct the strictness
Words: 1255 - Pages: 6
TAX ON SHORT-TERM CAPITAL GAINS Introduction Gain arising on transfer of capital asset is charged to tax under the head “Capital Gains”. Income from capital gains is classified as “Short Term Capital Gains” and “Long Term Capital Gains”. In this part you can gain knowledge about the provisions relating to tax on Short Term Capital Gains. Meaning of Capital Gains Profits or gains arising from transfer of a capital asset are called “Capital Gains” and are charged to tax under the head “Capital
Words: 7636 - Pages: 31
