INCOME FROM INTEREST ON SECURITIES
Question No. 1
Ms. Jerin Akter made the following investments in different securities from where she received interest
on the due dates:
Date of Purchase
Securities
Amount
01.01.20
Interest on tax-free government securities
2,850
01.01.21
Interest on taxable government securities
3,800
01.01.19
Investment in 14% approved debenture
01.07.22
Interest on 1 year zero coupon bond
10,000
01.04.21
Interest on Family Savings Certificate
36,000
2,00,000
Collection fee is 5% on the amount of interest collected by bank. She financed all investment in
approved debenture by taking a bank loan @ 11%.
Requirements: Calculate Taxable Income from Interest on Securities for the current Assessment Year
2023-24.
Question No. 2
Mr. Azam has the following information regarding his income from interest on securities:
i)
Received interest on 10% tax-exempt government securities, Tk. 10,000.
ii)
Interest of Tk. 19,000 is received on 10% taxable government securities.
iii)
Invested Tk. 200,000 in 15% debentures on 1st January 2023.
iv)
Purchased 1-year zero coupon bond for Tk. 9,000 on July 1, 2022. The maturity value of
the bond was Tk. 10,000 on June 30, 2023.
v)
Received Tk. 18,000 interest from Pensioner Sanchaypatra. His year-end accumulated
investment on Pensioner Sanchaypatra was Tk. 400,000.
He financed Tk. 150,000 by taking 10% loan to purchase debentures. His bank has charged 5% to
collect interests on above securities.
Requirement: Determine taxable income for Mr. Azam from interest on securities for the income year
2022–2023.