The Chittagong University Teachers' Association (CUTA) recently organised a seminar for all teachers and employees of the University for enhancing tax knowledge and tax awareness as well as understanding of submission of individual tax return in a easy way.
In the seminar, Director of Rupali Bank and Professor of Accounting of University of Chittagong, Professor Dr Md Salim Uddin FCA, FCMA presented a paper titled "Legal Provisions Governing an Individual Tax Assessment in Bangladesh : A Brief Review".
He discussed how to prepare and submission of return of income and the requirement of other statements such as statement of assets, liabilities and life style, method of assessment, heads of total income, non assessable income, investment allowances, fines and penalties, rates of income tax and tax rebate and finally presented an example for computation of total income, investment allowances, and final tax liability.
Dr Salim also pointed out that tax knowledge and tax awareness will lead to appropriate tax planning and tax compliance which positively contribute towards the economic development of Bangladesh.
There was a lively discussions and many participants took part in the discussions.
Professor Dr Monjur Morshed Mahmud, Professor Dr Ranjit Chowdhury and Joint Commissioner of Taxes Mr Masud Rana were present as discussants in the seminar.
Professor Dr Mihir Roy and Professor Dr Moazem Hossain, president and secretary of CUTA respectively also spoke in the seminar.
Professor Abdul Hoque presented the whole program as convenor of the seminar committee.