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1[33. Valuation of perquisites, allowances benefits.--
(1) For the purpose of computing the income chargeable under the head “salary”, the value
of perquisites, allowances and benefits includable in the said income shall be
determined in accordance with the provision of the rule 33A to rule 33J, whichever is
applicable.
(2) For the purpose of determining the value of perquisites, allowances and benefits under
sub-rule(1)--
2[(a) “ basic salary” means the pay which is payable monthly or otherwise except bonuses allowances of any kind called by whatever name, but does not include-
(i) dearness pay unless it enters into the computation of superannuation or retirement benefits of the employee concerned;
(ii) employer’s contribution to a recognised provident fund or a fund to which the Provident Funds Act, 1925(XIX of 1925), applies and the interest credited on the accumulated balance of and employee in such fund;and
(iii) Perquisites. Annuities and benefits referred to in sub-rule (1)]
3[(b) a shareholder, being director of more than one company, shall be entitled to the benefits under rule 33 for one company only.]
4[The Schedule
Sl. No. | Particulars of allowances, benefits and perquisites receivable by an employee. | The extent to which it is deem-ed to be income. |
1 | 2 | 3 |
1. | 1. Where house-rent allowance is receivable by the assessee in cash— (a) where the allowance does not exceed taka 2,000 per month or 50 par cent. of the basic salary of the assessee, whichever is the less. |
Nil; |
(b) in other cases | the amount, if any, by which such allowance exceeds taka 2,000 per month or 50 per cent, of the basic salary of the assessee, whichever is the less. | |
2. | Where rent-free accommodation is provided— | |
(a) where the accommodation is unfurnished | the rental value of the accommodation or 15 per cent, of the basic salary of the assessee, whichever is the less. | |
(b) where the accommodation is furnished | the rental value of the accommodation or 20 per cent, of the basic salary of the assessee, whichever is the less. | |
3. | Where residential accommodation is provided at a concessional rent. | the sum, if any, by which the amount arrived at under serial 2, as if the accommodation had been provided free of rent, exceeds the rent actually paid by the assessee. |
4 | (1) Where the conveyance is provided by the employer for the use of the assessee exclusively for his personal or private purposes | the sum actually expended by the employer on the running (including the maintenance) of the conveyance (including the normal wear and tear, if the conveyance is owned by the employer). |
(2) Where the conveyance is used by the assessee partly for his personal or private and partly for business purposes— (a) where the conveyance is owned by the employer and its running (including maintenance) costs are also borne by him— (i) where the conveyance is used exclusively by one person |
50 per cent, of the sum actually expended by the employer on the running (including maintenance) of the conveyance (including the normal wear and tear, if the conveyance is owned by the employer) subject to a maximum of taka 2.400 per annum; | |
(ii) where the conveyance is used by more than one person | the sum arrived at by dividing the amount representing 50 per cent, of the sum actually expended by the employer on the running (including maintenance) of the conveyance (including the normal wear and tear, if the conveyance is owned by the employer) by the number of such persons, or taka 1,200 per annum, whichever is the less; | |
(b) where the conveyance is owned by the employee and its running (including maintenance) eosts are also borne by him— (i) where the conveyance allowance does not exceed taka 4,200. |
Nil; | |
(ii) in other eases | the amount, if any, by which the conveyance allowance exceeds taka 4,200 or 10 per cent. of his basis salary, whichever of these two sums is the higher; | |
(c) where the conveyance is by the employer and its running (including maintenance) costs are borne by the employee— (i) where the conveyance allowance does not exocd taka 3,600. |
Nil; | |
(ii) in other cases | the amount, if any, by which the conveyance allowance exceeds taka 3,600 or 7 -5 per cent. of his basic salary, whichever of these two sums is the higher; | |
(d) where the conveyance is owned by the employee and its running (including maintenance) costs are borne by the employer— | ||
(i) where the conveyance allowance does not exceed taka 1200 | Nil; | |
(ii) in other cases | the amount, if any, by “which the conveyance allowance exceeds taka 1,200 or 2 -5 per cent, of his basic salary, whichever of these two sums is the higher; | |
(e) where the conveyance is used exclusively for business purposes— (i) where the conveyance is owned by the employer and its running (including maintenance) costs are also borne by him— |
||
(A) where no conveyance allowance is given | Nil; | |
(B) where a conveyance allowance is given | the whole amount of such allowance | |
(ii) where the conveyance is owned by the employer and its running (including maintenance) costs are borne by the employee | the amount, if any, by which the conveyance allowance exceeds the actual expenditure incurred by the assesses on the running (including maintenance) of the conveyance ; | |
(iii) where the conveyance is owned by the employee and its running (including maintenance) costs are also borne by him— | ||
(A) where the conveyance allowance does not exceed taka 4,200 | Nil; | |
(B) in other eases— | the amount, if any, by which the conveyance allowance exceeds taka 4,200 or 10 per cent, of the basic salary of the assesses, whichever of these two sums is the higher; | |
(iv) where conveyance is owned by the employee and its running (including maintenance) costs are borne by the employer— | ||
(A) where the conveyance allowance does not exited taka 3,600 | Nil; | |
(B) in other cases | the amount, if any, by which the conveyance allowance exceeds taka 3,600 or 7 -5 per cent, of the basic salary, whichever of these two sums is the higher. | |
5. | Where no conveyance is provided by the employer nor any conveyance owned or maintained by the employee is used by him— | |
(a) where the conveyance allowance does not exceed taka 3,600. | Nil; | |
(b) in other cases | the amount, if any, by which the sum receivable by the assessee exceeds taka 3,600 or the actual expenditure incurred by him wholly, necessarily and exclusively in the performance of the duties of the office held by him, whichever of those two sums is the greater. | |
6. | Where the transport is provided free of cost, or at a concessional rate, by an undertaking engaged in the transport of passengers or the carriage of goods to any employee of the undertaking (including the members of his household and dependents) in any conveyance owned or chartered by the undertaking for the purpose of the transport or carriage of goods. | Nil; |
7. | Free or concessional passage provided by the employer to an employee (including the members of his household and dependents)— (1) where the passage is provided for the travel abroad of the employee (including the members of his household and dependents)— (a) where such passage is provided in accordance with the employee’s terms of employment and not of tener than once in two years during the period of the employee’s service with the employer— (i) where no cash payment is made to the employee |
Nil; |
(ii) where cash payment is made | the amount, if any, by which such cash payment exceeds the actual expenditure incurred by the employee; | |
(b) in other cases | the whole of the amount paid in cash or, where no cash payment is made, the amount which would have been expended by the employee if the free or eoncessional passage, as the ease may be had not been provided by the employer; | |
(2) where the passage is provided for travel of the employee (including the members of his household and dependents) between places within Bangladesh— | ||
(a) where such passage is provided in accordance with the employee’s terms of employment with the employer. | Nil; | |
(b) in other cases | the whole of the amount paid in cash or, where no cash payment is made, the amount which would have been expened by the employee if the free or concessional passage, as the case may be, had not been provided by the employer. | |
8. | Entertainment allowance— | |
(a) where the allowance does not exceed taka 4,200 per annum. | ||
(b) in other cases | the amount, if any, by which. such allowance exceeds taka 4,200 per annum. | |
9. | Provision of free tea, coffee, etc., at the office premises during the course of work. | Nil; |
10. Medical and hospitalisation fee and expenses | the amount, if any, by which the sum receivable by the assessee exceeds the actual expenditure incurred by him. | |
11. | Any benefit or annuity not included in items 1 to 9 (both inclusive) provided to the employee, the members of his house-hold and dependents | the amount which would have been expended by the assessee on obtaining benefit or annuity from an independent source in the same or near locality, if it had not been so provided, as reduced by the amount, if any, recoverable from or payable by the assessee and the amount, if any, actually expended by him wholly, necessarily and exclusively in the performance of the duties of office held by the assessee. |
(2) For the purposes of assessment under section 33 of the Ordinance, the allowances, annuities, benefit and perquisites specified in column 2 of the Schedule annexed hereto shall, to the extent indicated in column 3 thereof, be deemed to be income of the assessee and shall be included in his total income:- The Schedule
Sl. No. | Particulars of allowances, annuities benefits and perquisites. |
The extent to which deemed to be income. |
1 | 2 | 3 |
1. Entertainment, conveyance and any other allowance paid in cash | the amount, if any, by which the sum receivable by the assessee exceeds the amount actually expended by him wholly, necessarily and exclusively in the performance of the duties of the office held by the asssssec. | |
2 | Where transport is provided free of cost, or at a concessional rate, by an undertaking engaged in the transport of passengers of the carriage of goods, to any part-time director or a business associate, such as, a representative of a Travel or Booking Agency (including the members of his household and dependents) in any conveyance owned or chartered by the undertaking for the purposes of the transport of passengers or the carriage of goods | Nil; |
3. | Any benefit or annuity not included in serials 1 and 2 provided to the assessee, the members of his household or depdendents | the amount which would have been expended by the assessee on obtaining such benefit or annuity from an independent source in the same or near locality, if it had not been so provided, as reduced by the amount, if any, receivable from or payable by the assessee and the amount, if any, actually expended by him wholly, necessarily and exclusively in the performance of the duties of office held by the assessee. |
(3) For the purposes of this rule,—
(a) “basic salary” means the pay and allowances payable monthly or otherwise, but does not include—
(i) dearness allowance or dearness pay unless it enters into the computation of superannuation or retirement benefits of the employee concerned;
(ii) employer’s contribution to a recognised fund or a fund to whieh the Provident Funds Act, 1925 (XIX of 1925), applies and the interest credited on the accumulated
balance of an employee im such fund;
(iii) allowances which are exempt from the payment of tax; and
(iv) allowances, perquisites, annuities and benefits referred to in sub-rule (1); and
(b) “employee” includes a director of a company working full-time for one company.
(4) This Rule shall apply to the allowances, annuities, benefits and perquisites which become due to an assessee on or after the first dav of July, 1984.]
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1.Subs. by S.R.O. No 185-L/97,dt.04-08-1997
2 Subs by এস,আর,,ও নং 165-আইন/আয়কর 2020.তাং 22/06/2020
3.Subs by এস,আর,,ও নং ২০৭-আইন/আয়কর ২০০৫.তাং ০৬-০৭-২০০৫
4Omitted by S.R.O. No- 185/97,dt.04/08/1997
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