What is document required for opening a TIN (Tax Identification Number) ?
Duly filled up two copy TIN application form.
Two copy passport size photo.
Copy of National ID Card.
Employment Certificate from Company.
Why should I open a TIN Certificate or maintain a Tax File?
Just to aware the fresh tax payer group and other interested, maintenance a tax files provides you following benefits of your life;
Acquisition of any assets: if you want to acquire any fixed assets like land, apartment, vehicles etc. then you need to show available fund in your tax file (this is noted actual cash in hand/bank is immaterial here) otherwise Government may impose tax, penalty, acquire by gov. etc.
Taking Loan from Financial Institute: Sanction of loan exceeding 5 lac from any financial institute then you have to submit your tax certificate.
Applying for Visa: If you want to go abroad then at the time application of visa, you have to submit your tax return certificate.
Applying for Credit Card: If you want to take credit card from any bank then it needs to submit your TIN certificate.
Construction Plan Approval: Submitting a plan for construction of house property for the purpose of obtaining approval from Rajdhani Unnyan Kartipakkha (RAJUK), Chittagong Development Authority (CDA), Khulna Development Authority (KDA) and Rajshahi Development Authority (RDA). (as per section 184 A of Income tax ordinance)
The following events required TIN certificate other than above mentioned:
Renewal of trade license in the area of a corporation or of a paurashava of divisional head-quarters.
Submitting tender documents for the purpose of supply of goods, execution of a contract of for rendering services.
Submitting application for membership of a club registered under company act 1994.
Registration for purchase of land, building or an apartment situated within any city corporation, deed value of which exceeds Tk. 1,00,000/-
Registration, change of ownership or renewal of fitness of a car, jeep microbus.
Giving ISD connection to any kind of telephone.
Applying for or renewal of membership of any trade body.
Issuance of drug license.
Recognition of Fist Class Citizen of the Country: As a tax payer, it always provides you a status of fist class citizen in the country as well as meets social responsibilities.
Help to meet your basic requirement of Living: Tax increase Govt. revenue and this amount come back to you in the form electricity, Gas, road communication facilities by the Govt.
Deduction at Source Salary: as per Income Tax Ordinance, Company always deducted at source tax from his/her salary. But if you are not filing return of your income then this tax amount don’t credit to your account, so that you could not avail the above facilities.
Penalty for not filling of Tax return: Government may file penalty for not filling of tax return for those individuals who are liable to file tax return. (u/s -124)
(Section, 124: Failure to file return: Where any person has, without reasonable cause, failed to file return of income required by or under sections: 75, 77, 89 (2), 91 (3), or 93 (i). Penalty amounting to 10% of tax imposed on last assessed income subject to maximum of 1,000/- and a further sum of 50/- for everyday of continuing default.)
What are documents required for Individual Assessment?
Salary Certificate including salary structure during the Income year.
Document of tax payment. (Tax deducted at source) from salary.
Bank Statement where salary transferred duration the income period.
Statement of Contribution of Provident fund. (Contribution during the period and Contribution up to income year)
Any loan taken from bank or leasing company: Loan Statement (if any) up to income year or a certificate of closing balance up to the end of income year.
Document of purchase of land, flat, car or other investments.
DPS: statement required from beginning to up to income year.
Document of payment against life insurance policy: Premium paid during the year and accumulated payment up to end of income year.
Document of purchase of saving certificate, unit certificate etc., information of investment up to end of income year.
Document of investment in Primary share market. (IPO)
Document of investment in Secondary Share market. Certificate required with mentioned total investment during the period income year, total cost price of security, total gain/loss, total dividend income, total tax deducted at source.
Document of interest income: Certificate from bank regarding interest income and tax deducted at source..
If you have any income from house rent then deed of rent, document of local taxes, tax deducted at source, if there is any loan against house then bank statement.
Additional document required for new Client/new assessee
Last year Assessment copy.
Two copy passport size photo.
Personal information which is required for filled up assessment form.
What are the fees of your Tax Service?
In all situations the fixed fee for our services must be calculated individually, according to Client’s requests and possibilities. It gives us an opportunity to offer you the best prices without overvaluing them via including “risk part” in the fee.
Our policy is to estimate fees at amounts that are highly competitive but will allow us to respond to your needs and provide professional services of the highest quality. Although we have a wide range of specialized skills in the areas of management and IT consulting, tax, accounting and audit, we offer such skills only where we believe we can be of help.
What are the other services of your firm?
Corporate and individual tax assessment and consultation.
Cost & Management Audit.
Return and other works of Joint Stock companies.
Asset and Machinery Valuation.
Feasibility Analysis and project profile.
Compliance work related with Board of Investment.
HR Management.
Accounts Receivable Management.