Income Tax Accounting Final Summer 2026 Question Paper

1. (a) Explain different types of securities with examples. (b) Interpret business, capital gain, and financial asset income. CLO-1, L-2 [4+3=7] 2. Mr. Kadir is a regular investor of Dhaka Stock Exchange (DSE) Limited. In July 2018, he purchased 6,660 shares of Tk. 1,000 face value of Islami Bank Bangladesh PLC @Tk.1,595. Brokerage charge on that time was 1.5% on the gross value of the shares traded. In March 2022, IBB PLC declared a cash dividend of Tk. 10 per share and 1 for 6 stock dividends when the market value of such shares was Tk. 1,820 each. In December 2025 Mr. Kadir sold 2,110 shares including all of the shares that he received as bonus share in 2022 @ Tk. 2,050. On the date of sale, the brokerage charge was 1.25% on the gross value of shares traded. Compute the amount of capital gain from the sale of shares. Use the above information to calculate taxable capital gains for the current income year. CLO-2, L-3 [8] 3. Use the given information in calculating the income chargeable under the head “Income from Financial Assets” and “total taxable income” for Mr. Mahbub for the current income year: 10% tax-exempt government securities (TEGS) valued Tk. 65,000; interest received on taxable government securities (TGS) Tk.5,750; Tk.19,050 as interest on debentures and income from zero coupon bond Tk. 16,000. The bank has charged Tk.150 for collecting interest on TEGS, 5% commission for TGS and debentures and Tk. 250 for zero coupon bond. In addition, debentures were purchased by taking a 6% bank loan of Tk. 1,00,000. During the year he received Tk. 1200 dividend for investment in Dhaka Bank’s shares and Tk. 1,850 interest from the savings account of Dhaka Bank PLC. Moreover, he sold shares of Prime Bank PLC for Tk. 25,000 which he purchased for Tk. 16,000. CLO-2, L-3 [8] 4. Examine the given information to calculate taxable income for Mr. Rocky considering his income for the current year includes royalty income from a company Tk. 3,800; royalty income of a book Tk. 3,600; income from part-time job Tk. 15,000; prize of winning crosswords Tk. 1,800; income from letting out household machineries Tk. 1,200; sale of forest timber Tk. 1,500; rent of a shop owned by him Tk. 4,000; gain from loan amortization Tk. 10,000; income from a newspaper column writing Tk. 6,000; and income from unused leased land Tk. 3,000. During the year he spent Tk. 2,50,000 on a family entertainment event at Dhaka Regency, the source of this expenditure remained unexplained to DCT. He has also visited Nepal incurring total cost of Tk. 1,50,000 and purchased a diamond set of Tk. 1,70,000 for his wife for which the source of the money was unexplained. He has paid Tk. 200 commission for collecting the royalty.