INCOME TAX MANUAL PART -1

THE INCOME TAX ORDINANCE,1984 (XXXVI OF 1984)

ORGANIZED BY -- ABU SAYEM MD. BELLEL HOSSSEN (SAYEM) CA.CC( I.T.P )
SAYEMIT@GMAIL.COM +8801711-204544

As amended up to july 2018

FINANCE ACT 2018

Tax revenue is the income that is gained by governments through taxation.

Taxation is the primary source of income for a country. Revenue may be
extracted from sources such as individuals, public enterprises, trade,
royalties on natural resources and/or foreign aid. An inefficient
collection of taxes is greater in countries characterized by poverty, a
large agricultural sector and large amounts of foreign aid.

Some Hints:
Red colour = omitted by F.A 2018
Blue colour= Inserted by F.A 2018

Any Mistake,error or discrepency when noted please be brought to my

notice.

Reader should cross-check all the facts,law and contents of the PDF with
original Government publication and/or notifications of laws,rules,
regulations or SROs, published thereof.

NOT FOR SALE .

This PDF is not an Official or not authorised by
NBR.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 1
 CHAPTER I
PRELIMINARY

Short title and commencement

1. (1) This Ordinance may be called the Income-tax Ordinance, 1984.
(2) It shall come into force on the first day of July, 1984.

Definitions
2. In this Ordinance, unless there is anything repugnant in the subject or context,-
(1) "agricultural income" means-
(a) any income derived from any land in Bangladesh and used for agricultural purposes-
(i) by means of agriculture; or
(ii) by the performance of any process ordinarily employed by a cultivator to render marketable the produce of
such land; or
(iii) by the sale of the produce of the land raised by the cultivator in respect of which no process, other than
that to render the produce marketable, has been performed; or
(iv) by granting a right to any person to use the land for any period; or
(b) any income derived from any building which-
(i) is occupied by the cultivator of any such land as is referred to in sub-clause (a) in which any process is
carried on to render marketable any such produce as aforesaid;
(ii) is on, or in the immediate vicinity of, such land; and
(iii) is required by the cultivator as the dwelling house or store-house or other out-house by reason of his
connection with such land;
(2) "amalgamation", in relation to companies, means the merger of one or more companies with another
company, or the merger of two or more companies to form one company (the company or companies which so
merged being referred to as the amalgamating company or companies and the company with which they merge
or which is formed as a result of the merger as the amalgamated company) in such a manner that by virtue of,
and for reasons attributable to, the merger,-
(a) all the property of the amalgamating company or companies immediately before the merger becomes the
property of the amalgamated company;
(b) all the liabilities of the amalgamating company or companies immediately before the merger become the
liabilities of the amalgamated company; and

(c) the shareholders holding not less than nine-tenths in value of the shares in the amalgamating company or
companies (other than shares already held therein immediately before the merger by, or by a nominee for, the
amalgamated company or its subsidiary) become shareholders of the amalgamated company;
(3) "annual value" shall be deemed to be-
(a) in relation to any property let out,-
(i) the sum for which property might reasonably be expected to let from year to year 1[ ***] 2[ and any
amount received by letting out furniture, fixture, fittings etc; or]
(ii) where the annual rent in respect thereof is in excess of the sum referred to in paragraph (i), the amount of
the annual rent;
3[ * * *]

(4) "Appellate Joint Commissioner" means a person appointed to be an Appellate Joint Commissioner of
Taxes under section 3 4[ , and includes a5[ an Appellate Additional Commissioner of Taxes]] 6[ and also a
person appointed to hold current charge of an Appellate Joint Commissioner of Taxes];
(5) "Appellate Tribunal" means the Taxes Appellate Tribunal established under section 11;
7[ (5A) "approved gratuity fund" means a gratuity fund which has been and continues to be approved by the
Board in accordance with the provisions of Part C of the First Schedule;]

(6) "Approved superannuation fund" means a superannuation fund 8[ or a pension fund] which has been and
continues to be approved by the Board in accordance with the provisions of Part A of the First Schedule;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 2
 (7) "Assessee", means a person by whom any tax or other sum of money is payable under this Ordinance, and
includes-
(a) every person in respect of whom any proceeding under this Ordinance has been taken for the assessment
of his income or the income of any other person in respect of which he is assessable, or of the amount of
refund due to him or to such other person;
9[ (aa) every person by whom a minimum tax is payable under this Ordinance;]
(b) every person who is required to file a return under section 75, section 89 or section 91;

(c) every person who desires to be assessed and submits his return of income under this Ordinance; and
(d) every person who is deemed to be an assessee, or an assessee in default, under any provision of this
Ordinance;
(8) "assessment", with its grammatical variations and cognate expressions, includes re-assessment and
additional or further assessment;
(9) "assessment year" means the period of twelve months commencing on the first day of July every year; and
includes any such period which is deemed, under the provisions of this Ordinance, to be assessment year in
respect of any income for any period;
(10) "Assistant Commissioner of Taxes" means a person appointed to be an Assistant Commissioner of Taxes
under section 3;
(11) "Bangladeshi company" means a company formed and registered under the Companies Act, 1913 (VII of
1913) 10[ or ক োম্পোনী আইন, ১৯৯৪(১৯৯৪ সননর ১৮ নং আইন), and includes a body corporate]
established or constituted by or under any law for the time being in force in Bangladesh having in either case
its registered office in Bangladesh;
(12) "Banking company" has the same meaning as in 11[ ব্োং -ক োম্পোনী আইন, ১৯৯১ (১৯৯১ সননর ১৪ নং
আইন)], and includes any body corporate established or constituted by or under any law for the time being in
force which transacts the business of banking in Bangladesh;
(13) "Board" means the National Board of Revenue constituted under the National Board of Revenue Order,
1972 (P. O. No. 76 of 1972);
(14) "business" includes any trade, commerce or manufacture or any adventure or concern in the nature of
trade, commerce or manufacture;
(15) "capital asset" means property of any kind held by an assessee, whether or not connected with his
business or profession, but does not include-
(a) any stock-in-trade (not being stocks and shares), consumable stores or raw materials held for the purposes
of his business or profession; 12[and]

(b) personal effects, that is to say, movable property (including wearing apparel, jewellery, furniture, fixture,
equipment and vehicles), which are held exclusively for personal use by, and are not used for purposes of the
business or profession of the assessee or any member of his family dependent on him; 13[ ***]
Omitted F.A (16) "charitable purpose" includes relief of the poor, education, medical relief and the advancement of any
2018 object of general public utility;
“(16) “charitable purpose” includes
(a) relief of the poor, education and medical relief; and

Inserted F.A (b) the advancement of any other object of general public utility, subject to the following conditions-
2018
(i) it does not involve carrying out any activities in the nature of trade, commerce or business; or
(ii) where it involves any service rendered for a consideration, the aggregate value of such consideration in
the income year does not exceed twenty lakh taka;”;
(17) "chartered accountant" means a chartered accountant as defined in the Bangladesh Chartered
Accountants Order, 1973 (P.O. No. 2 of 1973);

(18) "child", in relation to any individual, includes a step-child and an adopted child of that individual;
15[ (19) "Commissioner" means a person appointed to be a Commissioner of Taxes or Commissioner (Large
Taxpayer Unit) under section 3, or a person appointed to hold current charge of a Commissioner of Taxes or
Commissioner (Large Taxpayer Unit);]

16[ (19A) "Commissioner (Appeals)" means a person appointed to be a 17[ Commissioner of Taxes (Appeals)
under section 3 and includes a person appointed to hold current charge of a Commissioner of Taxes (Appeal)];

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 3
18[ * * *]
(20) "Company" means a company as defined in 19[ the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)] and includes-
(a) a body corporate established or constituted by or under any law for the time being in force;
(b) any nationalised banking or other financial institution, insurance body and industrial or business
enterprise; 20[ * * *]
21[ 22[ (bb) an association or combination of persons, called by whatever name, if any of such persons is a
company as defined in 23[ the Companies Act, 1913 (VII of 1913) or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর
১৮ নং আইন)];

(bbb) any association or body incorporated by or under the laws of a country outside Bangladesh; and]
(c) any foreign association or body, 24[ not incorporated by or under any law], which the Board may, by
general or special order, declare to be a company for the purposes of this Ordinance;
(21) "co-operative society" means a co-operative society registered under 25[ সমবোয় সমমমি আইন, ২০০১
(২০০১ সননর ৪৭ নং আইন) (Co-operative Societies Act, 2001)(Act No. 47 of 2001)], or under any other law
for the time being in force governing the registration of co-operative societies;
(22) "cost and management accountant" means a cost and management accountant as defined in the Cost and
Management Accountants Ordinance, 1977 (LIII of 1977);

(23) "Deputy Commissioner of Taxes" means a person appointed to be a Deputy Commissioner of Taxes
under section 3, 26[ and includes a person appointed to be a Transfer Pricing Officer,] an Assistant
Commissioner of Taxes, an Extra Assistant Commissioner of Taxes and a Tax Recovery Officer;
(24) "director" and "manager" in relation to a company have the meanings assigned to them in 27[ the
Companies Act, 1913 (VII of 1913) or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)];

28[ (25) "Director-General of Inspection" means a person appointed to be a Director-General of Inspection

(Taxes) under section 3, and except for the purpose of section 117, includes a person appointed for the
purpose of this Ordinance to be an Additional Director-General of Inspection (Taxes), a Deputy Director-
General of Inspection (Taxes), or an Assistant Director-General of Inspection (Taxes);]
29[ (25A) "Director General (Training)" means a person appointed to be Director General (Training);]
30[ (25AA) "Director General, Central Intelligence Cell" means of persons appointed to be Director General,
Central Intelligence Cell 31[ or 32[any Director, Central Intelligence Cell or any Joint Director, Central
Intelligence Cell or Deputy Director, Central Intelligence Cell or Assistant Director, Central Intelligence Cell ]
authorised by him]];
(26) "dividend" includes-

(a) any distribution by a company of accumulated profits, whether capitalised or not, if such distribution
entails the release by the company to its shareholders of all or any part of its assets or reserves;
(b) any distribution by a company, to the extent to which the company possesses accumulated profits, whether
capitalised or not, to its shareholders of debentures, debenture-stock or deposit certificates in any form,
whether with or without interest;
(c) any distribution made to the shareholders of a company on its liquidation to the extent to which the
distribution is attributable to the accumulated profits of the company immediately before its liquidation,
whether capitalised or not;

(d) any distribution by a company to its shareholders on the reduction of its capital, to the extent to which the
company possesses accumulated profits, whether such accumulated profits have been capitalised or not;
33[ (dd) any profit remitted outside Bangladesh by a company not incorporated in Bangladesh under
ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)];
34[ (ddd) any distribution of profit of a mutual fund or an alternative investment fund;]
(e) any payment by a private company of any sum (whether as representing a part of the assets of the company
or otherwise) by way of advance or loan to a shareholder or any payment by any such company on behalf, or
for the individual benefit, of any such shareholder, to the extent to which the company, in either case,
possesses accumulated profit;
but does not include-

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 4
 (i) a distribution made in accordance with sub-clause (c) or sub-clause (d) in respect of any share including
preference share for full cash consideration, or redemption of debentures or debenture-stock, where the holder
of the share or debenture is not entitled in the event of liquidation to participate in the surplus assets;
(ii) any advance or loan made to a shareholder in the ordinary course of its business, where the lending of
money is a substantial part of the business of the company;
(iii) any dividend paid by a company which is set off by the company against the whole or any part of any sum
previously paid by it and treated as dividend within the meaning of sub-clause (e) to the extent to which it is
so set off;
35[ (iiia) any bonus share issued by a company;]
36[ ***]
Explanation.- The expression "accumulated profits",-
(a) wherever it occurs in this clause, includes any reserve made up wholly or partly of any allowance,
deduction or exemption admissible under this Ordinance or under the Income-tax Act, 1922 (XI of 1922), but
does not include capital gains arising before the first day of April, 1946, or after the thirty-first day of March,
1949, and before the eighth day of June, 1963;
(b) as used in sub-clauses (a), (b) and (d), includes all profits of the company up to the date of such
distribution; and
(c) as used in sub-clause (c), includes all profits of the company up to the date of its liquidation;
(27) "employer" includes a former employer;
(28) "employee", in relation to a company, includes the managing director, or any other director or other
person, who, irrespective of his designation, performs any duties or functions in connection with the
management of the affairs of the company;
(29) "Extra Assistant Commissioner of Taxes" means a person appointed to be an Extra Assistant
Commissioner of Taxes under section 3 37[ and includes a person appointed to hold current charge of an
Extra Assistant Commissioner of Taxes];
38[ (30) "fair market value" means, in relation to capital asset-
(a) the price which such asset would ordinarily fetch on sale in the open market on the relevant day, and,
where such price is not ascertainable, the price which the Deputy Commissioner of Taxes may, with the
approval in writing of the Inspecting Joint Commissioner, determine;

(b) the residual value received from the lessee in case of an asset leased by a financial institution having
license from the Bangladesh Bank on termination of lease agreement on maturity or otherwise subject to the
condition that such residual value plus amount realised during the currency of the lease agreement towards the
cost of the asset is not less than the cost of acquisition to the lessor financial institution.]
(31) "fees for technical services" means any consideration (including any lump sum consideration) for the
rendering of any managerial, technical or consultancy services (including the provision of services of
technical or other personnel) but does not include consideration for any construction, assembly, mining or like
Inserted F.A project undertaken by the recipient, or consideration which would be income of the recipient classifiable
2018
under the head "Salaries". “Explanation.- For the removal of doubts, it is hereby declared that in this clause,
“fees for technical services” shall include technical services fee, technical assistance fee or any fee of similar
nature;”;
39[ (31A) "financial institution" has the same meaning as assigned to it in আমথ ি প্রমিষ্ঠোন আইন, ১৯৯৩
(১৯৯৩ সননর ২৭ নং আইন) (Financial Institution Act, 1993) (Act No. 27 of 1993);]
(32) "firm" has the same meaning as assigned to it in the Partnership Act, 1932 (IX of 1932);
(33) "foreign company" means a company which is not a Bangladeshi company;
40[ (34) “income” includes-
(a) any income, receipts, profits or gains, from whatever source derived, chargeable to tax under any provision
of this Ordinance;
(b) any amount which is subject to collection or deduction of tax at source under any provision of this
Ordinance;
(c) any loss of such income, profits or gains;
(d) the profits and gains of any business of insurance carried on by a mutual insurance association computed
in accordance with paragraph 8 of the Fourth Schedule;
(e) any sum deemed to be income, or any income accruing or arising or received, or deemed to accrue or arise
or be received in Bangladesh under any provision of this Ordinance;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 5
(f) any amount on which a tax is imposed;
(g) any amount which is treated as income under any provision of this Ordinance;]
41[ * * *]
42[ (35) “income year” means-
(a) the period beginning with the date of setting up of a business and ending with the thirtieth day of June
following the date of setting up of such business;

(b) the period beginning with the date on which a source of income newly comes into existence and ending
with the thirtieth day of June following the date on which such new source comes into existence;
(c) the period beginning with the first day of July and ending with the date of discontinuance of the business
or dissolution of the unincor- porated body or liquidation of the company, as the case may be;
(d) the period beginning with the first day of July and ending with the date of retirement or death of a
participant of the unincorporated body;
(e) the period immediately following the date of retirement, or death, of a participant of the unincorporated
body and ending with the date of retirement, or death, of another participant or the thirtieth day of June
following the date of the retirement, or death, as the case may be;
(f) in the case of bank, insurance or financial institution 43[ or any subsidiary thereof] the period of twelve
months commencing from the first day of January of the relevant year; or

(g) in any other case the period of twelve months commencing from the first day of July of the relevant year
44[ :Provided that the Deputy Commissioner of Taxes may allow a different financial year for a company
which is a 45[ subsidiary, including a subsidiary thereof, or a holding company of a parent company
incorporated outside Bangladesh or a branch or liaison office thereof] if such company requires to follow a
different financial year for the purpose of consolidation of its accounts with the parent company;]

(36) "Inspecting Joint Commissioner" means a person appointed to be an Inspecting Joint Commissioner of
Taxes under section 3 46[ , and includes 47[ an Inspecting Additional Commissioner of Taxes]] 48[ and also a
person appointed to hold current charge of an Inspecting Joint Commissioner of Taxes];
49[ (37) " Inspector" means an Inspector of Taxes under section 3 and also includes a person appointed to
hold charge of an Inspector of Taxes;]

(38) "Interest" means interest payable in any manner in respect of any money borrowed or debt incurred
(including a deposit, claim or other similar right or obligation) and includes any service fee or other charge in
respect of the money borrowed or debt incurred or in respect of any credit facility which has not been utilised;
(39) "legal representative" has the same meaning as assigned to it in section 2(11) of the Code of Civil
Procedure, 1908 (Act V of 1908);
(40) "market value", in respect of agricultural produce, means-
(a) where such produce is ordinarily sold in the market in its raw state or after application to it of any process
employed by a cultivator to render it fit to be taken to the market, t he value calculated according to the
average price at which it has been sold during the year previous to that in which the income derived from such
produce first becomes assessable; and
(b) where such produce is not ordinarily sold in the market in its raw state, the aggregate of-
(i) the expenses of cultivation;
(ii) the land development tax or rent paid for the lands in which it was grown; and

(iii) such amount as the Deputy Commissioner of Taxes finds, having regarded to the circumstances of each
case, to represent a reasonable rate of profit on the sale of the produce in question as agricultural produce;

(41) "money borrowed" includes, in the case of a banking company, money received by way of deposit;
(42) "non-resident" means a person who is not a resident;
(43) "partner" has the same meaning as assigned to it in the Partnership Act, 1932 (IX of 1932), and includes
a person who, being a minor, has been admitted to the benefits of partnership;
(44) "partnership" has the same meaning as assigned to it in the Partnership Act, 1932 (IX of 1932);

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 6
 “(44A) “permanent establishment”, in relation to income from business or profession, means a place or
activity through which the business or profession of a person is wholly or partly carried on, and includes-
(i) a place of management;
(ii) a branch;
(iii) an agency;
(iv) an office;
(v) a warehouse;
(vi) a factory;
(vii) a workshop;
Inserted F.A
2018
(viii) a mine, oil or gas well, quarry or any other place of exploration, exploitation or extraction of natural
resources;
(ix) a farm or plantation;
(x) a building site, a construction, assembly or installation project or supervisory activities in connection
therewith;
(xi) the furnishing of services, including consultancy services, by a person through employees or other
personnel engaged by the person for such purpose, if activities of that nature continue (for the same or a
connected project) in Bangladesh; and

(xii) any associated entity or person (hereinafter referred to as “Person A”) that is commercially dependent
on a non-resident person where the associated entity or Person A carries out any activity in Bangladesh in
connection with any sale made in Bangladesh by the non-resident person;”;
50[ (45) "perquisite" means-

(i) any payment made to an employee by an employer in the form of cash or in any other form excluding basic
salary, festival bonus, incentive bonus not exceeding ten per cent of disclosed profit of relevant income year,
arrear salary, advance salary, leave encashment or leave fare assistance and overtime, and
(ii) any benefit, whether convertible into money or not, provided to an employee by an employer, called by
whatever name, other than contribution to a recognised provident fund, approved pension fund, approved
gratuity fund and approved superannuation fund;]
51[46) “person” includes an individual, a firm, an association of persons, a Hindu undivided family, a trust, a
fund, a local authority, a company, an entity and every other artificial juridical person;

(46A) “person with disability” means an individual registered as প্রমিবন্ধী ব্ক্তি (person with disability) under
section 31 of প্রমিবন্ধী ব্ক্তির অমি োর ও সুরক্ষো আইন, ২০১৩ (২০১৩ সননর ৩৯ নং আইন);]
(47) "prescribed" means prescribed by rules made under this Ordinance;
(48) "principal officer", used with reference to a local authority, a company, any other public body or any
association of persons, includes-
(a) managing director, 52[ chief executive officer,] manager, secretary, treasurer, agent or accountant (by
whatever designation known), or any officer responsible for management of the affairs, or of the accounts, of
the authority, company, body or association; and
(b) any person connected with the management or the administration of the local authority, company, body or
association upon whom the Deputy Commissioner of Taxes has served a notice of his intention to treat him as
principal officer thereof;
(49) "profession" includes a vocation;
(50) "profits in lieu of salary" includes-

(a) the amount of compensation due to, or received by, an assessee from his employer at, or in connection
with, the termination of, or the modification of any terms and conditions relating to, his employment; and
(b) any payment due to, or received by, an assessee from a provident or other fund to the extent to which it
does not consist of contributions by the assessee and the interest on such contributions;

(51) "public servant" has the same meaning as in section 21 of the Penal Code (Act No. XLV of 1860);
(52) "recognised provident fund" means a provident fund which has been, and continues to be, recognised by
the Commissioner in accordance with the provisions of Part B of the First Schedule;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 7
53[ * * *]
(54) "relative", in relation to an individual, means the husband, wife, brother, sister or any lineal ascendant or
descendant of that individual;
(55) "resident", in respect of any income year, means-
(a) an individual who has been in Bangladesh-

(i) for a period of, or for periods amounting in all to, one hundred and eighty-two days or more in that year; or
(ii) for a period of, or periods amounting in all to, ninety days or more in that year having previously been in
Bangladesh for a period of, or periods amounting in all to, three hundred and sixty-five days or more during
four years preceding that year;
(b) a Hindu undivided family, firm or other association of persons, the control and management of whose
affairs is situated wholly or partly in Bangladesh in that year; and
(c) a Bangladeshi company or any other company the control and management of whose affairs is situated
wholly in Bangladesh in that year;
(56) "royalty" means consideration (including any lump sum consideration but excluding any consideration
which is classifiable as income of the recipient under the head "Capital gains") for-
(a) transfer of all or any rights, including the granting of a licence, in respect of a patent, invention, model,
design, mark or similar property;
(b) the imparting of any information concerning the working of, or the use of, a patent, invention, model,
design, secret process or formula, or trade mark or similar property;

(c) the use of any patent, invention, model, design, secret process or formula, or trade mark or similar property;
(d) the imparting of any information concerning technical, industrial, commercial, or scientific knowledge,
experience or skill;
(e) the transfer of all or any rights, including granting of a licence, in respect of any copyright, literacy, artistic
or scientific work, including films or video tapes for use in connection with television or tapes for use in
connection with radio broadcasting, but not including consideration for sale, distribution or exhibition of
cinematograph films; or
(f) the rendering of any services in connection with any of the aforesaid activities;
(57) "rules" means rules made under this Ordinance;
(58) "salary" includes-
54[ (a) any pay or wages;]
(b) any annuity, pension or gratuity;

(c) any fees, commissions, allowances, perquisites or profits in lieu of, or in addition to, salary or wages;
(d) any advance of salary;
55[ (e) any leave encashment;]

(59) "scheduled bank" has the same meaning as in the Bangladesh Bank Order, 1972 (P. O. No. 127 of 1972);
56[ ***]
(60) "shareholder" includes a preference shareholder;
(61) "speculation-business" means business in which a contract for the purchase or sale of any commodity,
including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or
transfer of the commodity or scripts, but does not include business in which-
(a) a contract in respect of raw materials or merchandise is entered into by a person in the course of his
manufacturing or mercantile business to guard against loss through future price fluctuations for the purpose of
fulfilling his other contracts for the actual delivery of the goods to be manufactured or the merchandise to be
sold by him;
(b) a contract in respect of stocks and shares is entered into by a dealer or investor therein to guard against
loss in his holdings of stocks and shared through price fluctuations; and
(c) a contract is entered into by a member of a forward market or a stock exchange in the course of any
transaction in the nature of jobbing or arbitrage to guard against loss which may arise in the ordinary course of
his business as such member;
57[ (62) "tax" means the income tax payable under this Ordinance and includes any additional tax, excess
profit tax, penalty, interest, fee or other charges leviable or payable under this Ordinance;]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 8
 58[ (62A) “Tax Day” means-
(i) in the case of an assessee other than a company, the thirtieth day of November following the end of the
income year;
(ii) in the case of a company, the fifteenth day of the seventh month following the end of the income year 59[
or the fifteenth day of September following the end of the income year where the said the fifteenth day falls
before the fifteenth day of September];
(iii) the next working day following the Tax Day if the day mentioned in sub-clauses (i) and (ii) is a public
holiday;]
Inserted F.A “(62B) “taxed dividend” means the dividend income on which tax has been paid by the recipient under this
2018 Ordinance;”;
60[ ***]
(64) "Tax Recovery Officer" means a person appointed to be a Tax Recovery Officer under section 3;
(65) "total income" means the total amount of income referred to in section 17 computed in the manner laid
down in this Ordinance, and includes any income which, under any provision of this Ordinance, is to be
included in the total income of an assessee;
Inserted F.A “(65A) “trading account” or “profit and loss account” includes income statement and other similar
2018 statements of accounts prepared under International Financial Reporting Standards;” .
(66) "transfer", in relation to a capital asset, includes the sale, exchange or relinquishment of the asset, or the
extinguishment of any right therein, but does not include-
(a) any transfer of the capital asset under a gift, bequest, will or an irrevocable trust;
(b) any distribution of the assets of a company to its shareholders on its liquidation; and
(c) any distribution of capital assets on the dissolution of a firm or other association of persons or on the
partition of a Hindu undivided family;
61[ * * *] (68) "written down value" means the written down value as defined in the Third Schedule;
(69) "year" means a financial year.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 9
 CHAPTER II
ADMINISTRATION

Income-tax authorities (Section-3)

3. There shall be the following classes of income-tax authorities for the purposes of this Ordinance, namely:-
(1) The National Board of Revenue,
62[ * * *]
63[ (IB) Chief Commissioner of Taxes; ]
64[ (2) Directors-General of Inspection (Taxes),]
65[ (2A) Commissioner of Taxes (Appeals),]
66[ (2B) Commissioner of Taxes (Large Taxpayer Unit),]
67[ (2C) Director General (Training),]
68[ (2D) Director General, Central Intelligence Cell,]
(3) Commissioners of Taxes,
69[ (3A) Additional Commissioners of Taxes who may be either Appellate Additional Commissioners of
Taxes or Inspecting Additional Commissioners of Taxes,]
(4) Joint Commissioner of Taxes who may be either Appellate Joint Commissioner of Taxes or Inspecting
Joint Commissioner of Taxes,
(5) Deputy Commissioners of Taxes,
70[ (6) Tax Recovery Officers nominated by the Commissioner of Taxes among the Deputy Commissioner of
Taxes within his jurisdiction;]
(7) Assistant Commissioners of Taxes,
(8) Extra Assistant Commissioners of Taxes, and
(9) Inspectors of Taxes.

Appointment of income-tax authorities (Section-4)

4. (1) Subject to the rules and orders of the Government regulating the terms and conditions of service of
persons in public services and posts, appointment of income-tax authorities shall be made in accordance with
the provisions of this Ordinance.

(2) The Board may appoint 71[ 72[ Chief Commissioner of Taxes, Director General], Central Intelligence
Cell,] 73[ * * *] as many 74[ Directors-General of Inspection], 75[ Commissioners (Appeals),]
Commissioners, Joint Commissioners of Taxes, Deputy Commissioners of Taxes, Tax Recovery Officers and
Assistant Commissioners of Taxes and such other executive or ministerial officers and staff as it may think fit.
76[ (2A) Notwithstanding anything contained in this Ordinance, the Board may, with the approval of the
Government, appoint one or more person having appropriate professional skill and experience to perform
such function as may be specified by an order issued in this behalf, and the person or persons so appointed
shall be deemed to be an income-tax authority for the purposes of this Ordinance.]

(3) Subject to such orders or instructions as the Board may, from time to time, issue in this behalf, any other
income-tax authority may appoint any income-tax authority subordinate thereto and such other executive or
ministerial officers and staff as may be necessary for assistance in the execution of its functions.

Delegation of powers (Section-4A)

77[ 4A. The Board may, by notification in the official Gazette, and subject to such limitations or conditions, if
any, as may be specified therein, empower by name or designation,-
(a) any Inspecting Additional Commissioner of Taxes to exercise the powers of a Commissioner of Taxes 78[
;]
(b) any Appellate Additional Commissioner of Taxes to exercise the powers of a Commissioner of Taxes
(Appeal) 79[ ; and
(c) any Additional Director General or Joint Director General of Central Intelligence Cell to exercise the
powers of Director General, Central Intelligence Cell.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 10
 Subordination and control of income-tax authorities (Section-5)
5. 80[ (1) The 81[ * * *] 82[ Chief Commissioner of Taxes, Director General] of Inspection, Commissioners
(Appeals), and Commissioners shall be subordinate to the Board.]

(2) The 83[ Additional Commissioners of Taxes, Joint Commissioners of Taxes], Deputy Commissioners of
Taxes and Inspectors shall be subordinate to the Commissioners 84[ or the Commissioner (Appeals), as the
case may be,] within whose jurisdiction they are appointed to perform their function:
Provided that no order, direction or instruction shall be given so as to interfere with the discretion of the
Appellate Joint Commissioners 85[ or the Commissioners (Appeals)] in the exercise of their appellate
functions.
(3) The Deputy Commissioners of Taxes and Inspectors shall be subordinate to the Inspecting Joint
Commissioner within whose jurisdiction they perform their functions.
(4) The Inspectors shall be subordinate to the Deputy Commissioners of Taxes within whose jurisdiction they
perform their functions.
Jurisdiction of income-tax authorities (Section-6)
6. (1) Subject to the provisions of this Ordinance,-
87[ (aa) the Directors-General of Inspection shall perform the following functions, namely:-
(i) carry out inspection of income tax cases;
(ii) investigate or cause investigation to be carried out in respect of cases involving leakage of revenue or
evasion of taxes;
(iii) carry out audit of cases or offices involving income tax revenues only;
(iv) furnish annual report about the working of income tax offices dealing with revenue matters to the Board
by the thirty first day of December following the end of the financial year to which it relates; and
(v) such other functions as may be assigned to them by the Board;]

88[ (aaa) the Director General of Central Intelligence Cell shall perform the following functions, namely:-
(i) carry out intelligence works to gather information about taxpayers;
(ii) analyse information gathered through intelligence work vis-a-vis concerned income tax records;
(iii) detect tax evasions, concealments of income and offences as described in chapter XXI of Income Tax
Ordinance, 1984;
(iv) carry out investigations to prove tax evasion or concealment or any other irregularities relating to taxes
and to collect evidences in support of tax offences or tax frauds for recovery of tax with penalty and to suggest
prosecutions in fit cases;
(v) to carry out functions as authorised by any other law.]

(b) the Commissioners 89[ , the Commissioners (Appeals)] and the Appellate Joint Commissioners shall
perform their functions in respect of such areas, or such persons or classes of persons, or such cases or classes
of cases, or such incomes or classes of incomes, as the Board may assign to them;
90[ (bb) the Commissioner (Large Taxpayer Unit) shall perform his functions in respect of such areas, or such
persons or classes of persons, or such cases or classes of cases or such incomes or classes of incomes, as the
Board may assign to him;]

(c) the Inspecting Joint Commissioners and the Deputy Commissioners of Taxes shall perform their functions
in respect of such areas, or such persons or classes of persons, or such cases or classes of cases, or such
incomes or classes of incomes as the Commissioner to whom they are subordinate may assign to them; and
(d) other income-tax authorities shall perform such functions as may be assigned to them by the income-tax
authority to whom they are subordinate.

(2) (a) Any area or other jurisdiction or function assigned to an income-tax authority under sub-section (1)
may be modified or varied, or may be transferred to any other income-tax authority with respect to areas,
persons or classes of persons, or cases or classes of cases, or proceeding or classes of proceedings;
(b) any such transfer as is referred to in clause (a) may be made at any stage of the proceedings and further
proceedings may be commenced from the stage at which such transfer takes place.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 11
 (3) Where more income-tax authorities than one have been assigned the same functions in respect of any area,
or persons or classes of persons, or cases or classes of cases, or incomes or classes of incomes, they shall
perform those functions in accordance with such allocation or distribution of work as the authority assigning
the functions may make.
(4) The powers of the Board, Commissioners and Deputy Commissioners of Taxes, to assign any case to any
authority, or to transfer any case from one authority to another, or to perform any function or functions under
this section, shall include the power in respect of all or any proceedings relating to such case; and except as
provided in sub-section (5), no such assignment, transfer or performance of functions shall be called in
question by or before any court or other authority.
(5) Any person aggrieved by any order passed under this section may, within thirty days of such order, make a
representation-

(a) to the Inspecting Joint Commissioner if the order was passed by a Deputy Commissioner of Taxes;
(b) to the Commissioner the Commissioners (Appeals) if the order was passed by an Inspecting Joint
Commissioner; and
(c) to the Board if the order was passed by a Commissioner; and any order passed on such representation shall
be final.

Exercise of jurisdiction by successor (Section-7)

7. Where, in respect of any proceeding under this Ordinance, an income-tax authority is succeeded by another,
the income-tax authority so succeeding may continue the proceeding from the stage at which it was left by his
predecessor.

Officers, etc to follow instructions of the Board (Section-8)

8. All officers and other persons engaged in the performance of any functions under this Ordinance shall, in
the matter of discharging those functions, observe and follow such orders, directions or instructions as the
Board may issue from time to time:
Provided that no order, direction or instruction shall be given so as to interfere with the discretion of the
Appellate Joint Commissioners 91[ or the Commissioners (Appeals)] in the exercise of their appellate
functions.

Guidance to the Deputy Commissioner of Taxes, etc (Section-9)

9. In the course of any proceedings under this Ordinance, the Deputy Commissioner of Taxes may be assisted,
guided or instructed by any income-tax authority to whom he is subordinate or any other person authorised in
this behalf by the Board.

Exercise of assessment functions by the Inspecting Joint Commissioners 92[ and the Inspecting Additional
Commissioners] (Section-10)
10. The Commissioner may, with prior approval of the Board, by general or a special order in writing, direct
that in respect of all or any proceedings relating to specified cases or classes of cases or specified persons of
classes of persons within his jurisdiction, the powers and functions of the Deputy Commissioner of Taxes, 93[
Inspecting Joint Commissioner, the Inspecting Additional Commissioner] and the Commissioner under this
Ordinance shall be exercised by 94[ Inspecting Joint Commissioner, the Inspecting Additional
Commissioner], the Commissioner and the Board, respectively and for the purpose of any proceedings in
respect of such cases or persons reference in this Ordinance or the rules made thereunder to the Deputy
Commissioner of Taxes, 95[ Inspecting Joint Commissioner, the Inspecting Additional Commissioner] or the
Commissioner shall be deemed to be references to 96[ Inspecting Joint Commissioner, the Inspecting
Additional Commissioner], the Commissioner and the Board, respectively.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 12
 CHAPTER III
TAXES APPELLATE TRIBUNAL

Establishment of Appellate Tribunal (Section-11)

11. (1) For the purpose of exercising the functions of the Appellate Tribunal under this ordinance, the
Government shall establish a Taxes Appellate Tribunal consisting of a President and such other 97[ * * *]
members as the Government may, from time to time, appoint.
(2) [Omitted by section 28 of অথ আইন,
ি ২০০২ (২০০২ সননর ১৪ নং আইন)]
98[ (3) A person shall not be appointed as a member of the Taxes Appellate Tribunal unless-
99[ (i) he was or is a member of the Board or holds the current charge of a member of the Board ; or]
(ii) he was a Commissioner of Taxes; or
(iii) he is a Commissioner of Taxes 100[ having at least one year experience as a Commissioner]; or
(iv)he
(v) heisisaacost
chartered accountant and
and management practised
accountant andprofessionally for a periodfor
practised professionally notaless thannot
period eight
lessyears; or years;
than eight
or
(vi) he is an income tax practitioner within the meaning of section 174(2)(f) and practised professionally for
not less than twenty years; or
(vii) he is a professional legislative expert having not less than eight years' experience in the process of
drafting
(viii) he and
is anmaking financial
Advocate and tax professionally
and practised laws; or for not less than ten years in any income tax office 101[ ;
or
102[ (ix) he is, was or has been a District Judge.]]
103[ (4) The Government shall appoint one of the members of the Appellate Tribunal to be the President
thereof 104[ , who is a member of the Board or holds the current charge of a member of the Board].

Explanation.- For the purpose of this section, period of practice as chartered accountant shall include any
period of practice as chartered accountant within the meaning of the Chartered Accountants Ordinance, 1961
(X of 1961) 105[ or Bangladesh Chartered Accountants Order, 1973 (P. O. No. 2 of 1973)] or as registered
accountant enrolled on the register of accountants under the Auditor's Certificate Rules, 1950.]

Exercise of power of the Tribunal by Benches (Section-12)

12. (1) Unless the President in any particular case or class of cases otherwise directs, the powers and functions
of the Appellate Tribunal shall be exercised by Benches of the Appellate Tribunal, hereinafter referred to as
Bench, to be constituted by the President.
(2) A Bench shall be so constituted that it has not less than two members 106[ * * *] 107[ .

Decision of Bench (Section-13)

13. (1) Subject to the provisions of sub-sections (2) and (3), the decision of bench in any case or on any point
shall be given in accordance with the opinion of the majority of its members.
(2) Any point on which the members of a Bench are equally divided shall be stated in writing and shall be
referred by the President to one or more other members of the Appellate Tribunal for hearing and the Point
shall be decided according to the majority of the members of the Appellate Tribunal who have heard it
including those who first heard it.
(3) Where there are only two members of the Appellate Tribunal and they differ in any case, the Government
may appoint an additional member of the Appellate Tribunal for the purpose of hearing the case; and the
decision of the case shall be given in accordance with the opinion of the majority of the members of the
Appellate Tribunal as constituted with such additional member.

Exercise of power by one member (Section-14)

14. Notwithstanding anything contained in section 12, the Government may direct that the powers and
functions of the Appellate Tribunal shall be exercised by any one of its members, or by two or more members
jointly or severally.

Regulation of procedure (Section-15)

15. Subject to the provisions of this Ordinance, the Appellate Tribunal shall regulate its own procedure and
the procedure of its Benches in matters arising out of the discharge of its functions including the places at
which a Bench shall hold its sittings.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 13
 CHAPTER IV
CHARGE OF INCOME TAX

Charge of income-tax (Section-16)

16. (1) Where an Act of Parliament provides that income-tax shall be charged for any assessment year at any
rate or rates, income-tax at that rate or those rates shall, subject to the provisions of that Act, be charged,
levied, paid and collected in accordance with the provisions of this Ordinance in respect of the total income of
the income year or income years, as the case may be, of every person:
Provided that where under the provisions of this Ordinance income-tax is to be charged in respect of the
income of a period other than the income year, income-tax shall be charged, levied, paid and collected
accordingly.
(2) Where under the provisions of this Ordinance income-tax is to be deducted at source, or paid or collected
in advance, it shall be deducted, paid and collected accordingly.
(3) Notwithstanding anything contained in sub-section (1), income-tax shall be charged at the rates specified
in the Second Schedule in respect of-
(i) a non-resident person, not being a company;
(ii) any income classifiable under the head “Capital gains”; and
(iii) any income by way of “winnings” referred to in section 19(13).

Charge of surcharge (Section-16A)

108[ 16A. (1) Where any Act of Parliament enacts that a surcharge on income shall be charged for any
assessment year at any rate or rates, such surcharge at that rate or those rates shall be charged for that year in
respect of the total income of the income year or the income years, as the case may be, of every person.

(2) All the provisions of this Ordinance relating to charge, assessment, deduction at source, payment in
advance, collection, recovery and refund of income tax shall, so far as may be, apply to the charge,
assessment, deduction at source, payment in advance, collection, recovery and refund of the surcharge.]

Charge of additional tax (Section-16B)

109[ 110[ 16B. Charge of additional tax.-Notwithstanding anything contained in any other provision of this
Omitted & Ordinance, where any person employs or allows, without prior approval of the Board of Investment or any
Inserted F.A competent authority of the Government, as the case may be,“appropriate authority of the Government” any
2018 individual not being a Bangladeshi citizen to work at his business or profession at any time during the income
year, such person shall be charged additional tax at the rate of fifty percent (50%) of the tax payable on his
income or taka five lakh, whichever is higher in addition to tax payable under this Ordinance.

16BB. Where under the provisions of this Ordinance any interest, amount or any other sum, by whatever name
called, is to be charged in addition to tax, it shall be charged, levied, paid and collected accordingly.

Charge of additional amount, etc(Section-16BB)

16BBB. Where under the provisions of this Ordinance any minimum tax is to be charged, it shall be charged,
levied, paid and collected accordingly.]

Charge of minimum tax(Section-16BBB)

112[ ***]
114[ ***]
116[ ***]
16D. [Charge of dividend distribution tax- Omitted by section 10 of অথ আইন,
ি ২০০৫ (২০০৫ সননর ১৬ নং আইন), which was inserted
by section 18 of অথ আইন,
ি ২০০৩ (২০০৩ সননর ১৭ নং আইন).]
119[ ***]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 14
 Scope of the total income(Section-17)
17. (1) Subject to the provisions of this Ordinance the total income of any income year of any person includes-
(a) in relation to a person who is a resident, all income, from whatever source derived, which-
(i) is received or deemed to be received in Bangladesh by or on behalf of such person in such year; or
(ii) accrues or arises, or is deemed to accrue or arise to him in Bangladesh during that year; or
(iii) accrues or arises to him outside Bangladesh during that year; and
(b) in relation to a person who is a non-resident, all income from whatever source derived, which-
(i) is received or deemed to be received in Bangladesh by or on behalf of such person in such year; or
(ii) accrues or arises, or is deemed to accrue or arise, to him in Bangladesh during that year.
(2) Notwithstanding anything contained in sub-section (1), where any amount consisting of either the whole
or a part of any income of a person has been included in his total income on the basis that it has accrued or
arisen, or is deemed to have accrued or arisen, to him in any year, it shall not be included again in his total
income on the ground that it is received or deemed to be received by him in Bangladesh in another year.

Income deemed to accrue or arise in Bangladesh(Section-18)

18. The following income shall be deemed to accrue or arise in Bangladesh, namely:-
(1) any income which falls under the head “Salaries”, wherever paid if-
(a) it is earned in Bangladesh; or
(b) it is paid by the Government or a local authority in Bangladesh to a citizen of Bangladesh in the service of
such Government or authority;
(2) any income accruing or arising, whether directly or indirectly, through or from-
(a) any business connection in Bangladesh;
(b) any property, asset, right or other source of income in Bangladesh; or
Omitted F.A (c) transfer or capital assets in Bangladesh:
2018
Provided that in the case of a business all the operations of which are not carried out Bangladesh, only such
part of the income as is reasonably attributable to the operation carried out in Bangladesh shall be deemed
to accrue or arise in Bangladesh;
“(2) any income accruing or arising, whether directly or indirectly, through or from-
(a) any permanent establishment in Bangladesh; or
(b) any property, asset, right or other source of income, including intangible property, in Bangladesh; or
(c) the transfer of any assets situated in Bangladesh; or
(d) the sale of any goods or services by any electronic means to purchasers in Bangladesh; or
(e) any intangible property used in Bangladesh.
Inserted F.A Explanation.- For the purpose of clause (2)-
2018 (a) the shares of any company which is a resident in Bangladesh shall be deemed to be property in
Bangladesh;
(b) intangible property shall be deemed to be property in Bangladesh if it is-
(i) registered in Bangladesh; or
(ii) owned by a person that is not a resident of Bangladesh but has a permanent establishment in Bangladesh
to which the intangible property is attributed;
(c) the transfer of any share in a company that is not a resident of Bangladesh shall be deemed to be the
transfer of an asset situated in Bangladesh to the extent that the value of the share transferred is directly or
indirectly attributable to the value of any assets in Bangladesh;”.
(3) any dividend paid outside Bangladesh by a Bangladeshi company;
(4) any income by way of interest payable-
(a) by the Government; or

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 15
(b) by a person who is a resident, except where the interest is payable in respect of any debt incurred, or
moneys borrowed and used, for the purposes of a business or profession carried on by such person outside
Bangladesh or for the purpose of making or earning any income from any source outside Bangladesh; or
(c) by a person who is a non-resident where the interest is in respect of any debt incurred, or moneys
borrowed and used for the purposes of a business or profession carried on by such person in Bangladesh or
for the purposes of making or earning any income from any source in Bangladesh;
(5) any income by way of fees for technical services payable-
(a) by the Government; or
(b) by a person who is a resident, except where such fees are payable in respect of services utilised in a
business or profession carried on by any such person outside Bangladesh or for the purposes of making or
earning any income from any source outside Bangladesh; or
(c) by a person who is a non-resident where such fees are payable in respect of services utilised in a business
or profession carried on by such person in Bangladesh or for the purposes of making or earning any income
from any source in Bangladesh;
(6) any income by way of royalty payable-
(a) by the Government; or
(b) by a person who is a resident, except where the royalty is payable in respect of any right, property or
information used or services utilised for the purposes of a business or profession carried on by such person
outside Bangladesh or for the purposes of making or earning any income from any source outside Bangladesh;
or
(c) by a person who is a non-resident where the royalty is payable in respect of any right, property or
information used or services utilised for the purposes of a business or profession carried on by such person in
Bangladesh or for the purposes of making or earning any income from any source in Bangladesh.

Un-explained investments, etc, deemed to be income (Section-19)

19. (1) Where any sum is found credited in the books of an assessee maintained for any income year and the
assessee offers no explanation about the nature and source thereof, or the explanation offered is not, in the
opinion of the Deputy Commissioner of Taxes, satisfactory, the sum so credited shall be deemed to be his
income for that income year classifiable under the head “Income from other sources”.

(2) Where, in any income year, the assessee has made investments or is found to be the owner of any bullion,
jewellery or other valuable article and the Deputy Commissioner of Taxes finds that the amount expended on
making such investments or in acquiring such bullion, jewellery or other valuable article exceeds the amount
recorded in this behalf in the books of account maintained by the assessee for any source of income and the
assessee offers no explanation about the excess amount or the explanation offered is not, in the opinion of the
Deputy Commissioner of Taxes, satisfactory, the excess amount shall be deemed to be the income of the
assessee for such income year classifiable under the head “Income from other sources”.

(3) Where, in any income year, the assessee has incurred any expenditure and he offers no explanation about
the nature and source of the money for such expenditure, or the explanation offered is not in the opinion of
the Deputy Commissioner of Taxes, satisfactory, the amount of the expenditure shall be deemed to be the
income of the assessee for such income year classifiable under the head “Income from other sources”.
(4) Where, in the financial year immediately preceding the assessment year, the assessee has made investments
which are not recorded in the books of account, if any, maintained by him for any source of income, and the
assessee offers no explanation about the nature and source of fund for the investments, or the explanation
offered is not, in the opinion of the Deputy Commissioner of Taxes, satisfactory, the value of the investments
shall be deemed to be the income of the assessee for such financial year classifiable under the head “Income
from other sources”.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 16
(5) Where, in the financial year immediately preceding the assessment year, the assessee is found to be the
owner of any money, bullion, jewellery or other valuable article which is not recorded in the books of account,
if any, maintained by him for any source of income, and the assessee offers no explanation about the nature
and source of fund for the acquisition of the money, bullion, jewellery or other valuable article, or the
explanation offered is not, in the opinion of the Deputy Commissioner of Taxes, satisfactory, the money or the
value of the bullion, jewellery or other valuable article, shall be deemed to be the income of the assessee for
such financial year classifiable under the head “Income from other sources”.

(6) Any income derived by an assessee in any income year (hereinafter in this sub-section referred to as the
said income year) from any business or profession, which has been or was, discontinued at any time before the
commencement, or during the courses, of the said income year shall, if such income would have been
chargeable to tax if it had been received in the income year in which it accrued or arose, be deemed to be
income chargeable to tax from such business or profession which shall, for the purposes of this Ordinance, be
deemed to have been carried on before the commencement, or during the course, of the said income year.

(7) Any dividend declared or distributed by a company shall be deemed to be the income of the 120[ income
year in which it is received] and shall be included in the total income of the assessee of that year.

(8) Where any assets, not being stock-in-trade or stocks, and shares, are purchased by an assessee from any
company and the Deputy Commissioner of Taxes has reason to believe that the price paid by the assessee is
less than the fair market value thereof, the difference between the price so paid and the fair market value
thereof, the difference between the price so paid and the fair market value shall be deemed to be income of the
assessee classifiable under the head “Income from other sources”.

(9) Where any lump sum amount is received or receivable by an assessee during any income year on account
of salami or premia receipts by virtue of any lease, such amount shall be deemed to be income of the assessee
of the income year in which it is received and classifiable under the head “Income from other sources”:
Provided that at the option of the assessee such amount may be allocated for the purpose of assessment
proportionately to the years covered by the entire lease period, but such allocation shall in no case exceed five
years.
(10) Where any amount is received by an assessee during any income year by way of goodwill money or
receipt in the nature of compensation or damages for cancellation or termination of contracts and licences by
the Government or any person, such amount shall be deemed to be the income of such assessee for that
income year classifiable under the head “Income from other sources”.
(11) Where any benefit or advantage, whether convertible into money or not, is derived by an assessee during
any income year on account of cancellation of indebtedness 121[ * * *], the money value of such advantage or
benefit shall be deemed to be his income for that income year classifiable under the head “Income from other
sources” 122[ :
123[ Provided that the provisions of this sub-section shall not apply in case of a loan or interest waived in
respect of an assessee by a commercial bank including Bangladesh Krishi Bank, Rajshahi Krishi Unnayan
Bank, 124[ Bangladesh Development Bank Ltd.], or a leasing company or a financial institution registered
under আমথ ি প্রমিষ্ঠোন আইন, ১৯৯৩ (১৯৯৩ সননর ২৭ নং আইন) 125[ :
Provided further that the provisions of this sub-section shall not apply in case of a benefit or advantage, of an
assessee being an individual, not exceeding taka ten lakh resulting from the waiver of margin loan or interest
thereof by a holder of Trading Right Entitlement Certificate (TREC) as defined under এক্সনেনেস
মিমমউেয্য়োলোইনেশন আইন, ২০১৩ (২০১৩ সননর ১৫ নং আইন) in respect of the assessee’s investment in
shares, debentures, mutual funds or securities transacted in the stock exchange;]

(12) Any managing agency commission including compensation received during any income year by an
assessee for termination of agencies or any modification of the terms and conditions relating thereto shall be
deemed to be his income for that income year classifiable under the head “Income from other sources”.
(13) Any amount received by an assessee during any income year by way of winnings from lotteries,
crossword puzzles, card games and other games of any sort or from gambling or betting in any form or of any
nature whatsoever shall be deemed to be his income for that income year classifiable under the head “Income
from other sources”.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 17
(14) Any profits and gains derived in any income year from any business of insurance carried on by a mutual
insurance association computed in accordance with the provisions of paragraph 8 of the Fourth Schedule shall
be deemed to be the income of such association for that income year.
(15) Where, for the purpose of computation of income of an assessee under section 28, any deduction has
been made for any year in respect of any loss, bad debt, expenditure or trading liability incurred by the
assessee, and-
(a) subsequently, during any income year, the assessee has received 126[ except as provided in clause (aa)],
whether in cash or in any other manner whatsoever, any amount in respect of such loss, bad debt, or
expenditure, the amount so received shall be deemed to be his income from business or profession during that
income year;
127[ (aa) such amount on account of any interest which was to have been paid to any commercial bank or the
128[ Bangladesh Development Bank Ltd].or on account of any share of profit which was to have been paid to
any bank run on Islamic principles and which was allowed as a deduction in respect of such expenditure
though such interest or share of profit was not paid by reason of the assessee having maintained his accounts
on mercantile basis, within 129[ three years] after expiry of the income year in which it was allowed, shall, to
such extent as it remains unpaid, be deemed to be income of the assessee from business or profession during
the income year immediately following the expiry of the said 130[ three years;]
(b) the assessee has derived, during any income year, some benefit in respect of such trading liability, the
value of such benefit, if it has not already been treated as income under clauses (c), shall be deemed to be his
income from business or profession during that income year;
(c) such trading liability or portion thereof as has not been paid within three years of the expiration of the
income year in which deduction was made in respect of the liability, such liability or portion, as the case may
be, shall be deemed to be the income of the assessee from business or profession during the income year
immediately following the expiry of the said three years;
and the business or profession in respect of which such allowance or deduction was made shall, for the
purposes of section 28, be deemed to be carried on by the assessee in that year:
131[ Provided that where any interest or share of profit referred to in clause (aa) or a trading liability referred
to in clause (c) is paid in a subsequent year, the amount so paid shall be deducted in computing the income in
respect of that year.]
(16) Where any building, machinery or plant having been used by an assessee for purpose of any business or
profession carried on by him is disposed of during any income year and the sale proceeds thereof exceeds the
written down value, so much of the excess as does not exceed the difference between the original cost and the
written down value shall be deemed to be the income of the assessee for that income year classifiable under
the head “Income from business or profession”.
(17) Where any machinery or plant exclusively used by an assessee for agricultural purposes has been
disposed of in any income year and the sale proceeds thereof exceeds the written down value, so much of the
excess as does not exceed the difference between the original cost and the written down value shall be deemed
to be the income of the original cost and the written down value shall be deemed to be the income of the
assessee for that income year classifiable under the head “Agricultural income”.

(18) Where any insurance, salvage or compensation moneys are received in any income year in respect of any
building, machinery or plant which having been used by the assessee for the purpose of business or profession
is discarded, demolished or destroyed and the amount of such moneys exceed the written down value of such
building, machinery or plant, so much of the excess as does not exceed the difference between the original
cost and the written down value less the scrap value shall be deemed to be the income of the assessee for that
income year classifiable under the head “Income from business or profession”.

(19) Where any insurance, salvage or compensation moneys are received in any income year in respect of any
machinery or plant which having been used by the assessee exclusively for agricultural purpose is discarded,
demolished or destroyed and the amount of such moneys exceed the written down value of such machinery or
plant, so much of the excess as does not exceed the difference between the original cost and the written down
value less the scrap value shall be deemed to be the income of the assessee for that income year classifiable
under the head “Agricultural income”.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 18
 (20) Where an asset representing expenditure of a capital nature on scientific research within the meaning of
section 29 (1) (xx) is disposed of during any income year, so much of the sale proceeds as does not exceed the
amount of the expenditure allowed under the said clause shall be deemed to be the income of the assessee for
that income year classifiable under the head “Income from business or profession”.
Explanation 1.- For the purposes of this sub-section and sub-sections (16) and (17), “sale proceeds” shall have
the same meaning as in the Third Schedule.
Explanation 2.- For the purposes of this sub-section and sub-sections (16) and (18), the business or profession
in which the building, machinery, plant or assets, as the case may be, was used before its disposal, shall be
deemed to be carried on by the assessee during the income year in which such disposal takes place.
132[ (21) Where any sum, or aggregate of sums 133[ not exceeding taka five lakh] is claimed or shown to
have been received as loan by an assessee 134[ ,not being a company] during any income year from any
person, not being a banking company or a financial institution, otherwise than by a crossed cheque drawn on
a bank 135[ or bank transfer], and has not been paid back in full within 136[ three years] from the end of the
income year in which it is claimed or shown to have been received, the said sum or part thereof which has
not been paid back, shall be deemed to be the income of the assessee for the income year immediately
following the expiry of the said 137[ three years] and be classifiable under the head “income from other
sources”:
Provided that where the loan referred to in this sub-section is paid back in a subsequent income year, the
amount so paid shall be deducted in computing the income in respect of that subsequent year.
Omitted F.A
2018 138[ (21A). Where any sum is claimed to have been received by an assessee as loan or gift during any income
year from a person who has transferred the sum within the period of limitation stipulated in the rule made
under this Ordinance, from the initial capital of his business or profession shown in his return filed under
section 83A, the amount of such loan or gift so received by the assessee shall be deemed to be his income of
the year in which such loan or gift was received and shall be classifiable under the head “income from other
sources”.]
139[ (21B). Where any sum, shown as initial capital of business or profession in return of income filed under
section 82BB, is 140[ transferred by a person partly or fully from that business or profession within the
period of limitation] stipulated in the said section, the sum so transferred shall be deemed to be his income
of the year in which such sum was transferred and shall be classifiable under the head "Income from other
sources".]
“(21) Where any sum is claimed or shown to have been received as loan or gift by an Assessee otherwise
than by a bank transfer, the amount so received shall be deemed to be the income of such Assessee for the
income year in which such loan or gift was received, and shall be classifiable under the head “Income from
other sources”: Provided that-
(a) where a loan or part thereof, which was deemed as the income under this sub-section and included in the
total income of the Assessee, is repaid in a subsequent income year, the amount so repaid shall be deducted
in computing the income of the Assessee for that income year;
(b) a loan shall not be deemed to be an income under this clause if the loan is taken from a banking company
Inserted F.A or a financial institution;
2018 (c) a loan or a gift received by an Aseessee, being an individual, shall not be deemed to be the income under
this sub-section, if-
(i) the aggregate amount of such loan or gift received in an income year does not exceed five lakh taka; or
(ii) the loan or the gift is received from spouse or parents of the Aseessee, and a banking channel or a formal
channel is involved in the process of such loan or gift.
Explanation.- In this sub-section, “bank transfer”, in relation to a loan or a gift, means transfer from the
account of the giver to the account of the receiver, and such accounts are maintained in a bank or a financial
institution legally authorised to operate accounts.”;
(22) Where an assessee, being the owner of a house property, receives from any person to whom such house
property or any part thereof is let out any amount which is not adjustable against the rent payable, the amount
so received shall be deemed to be income of the assessee for the income year in which it is received and be
classifiable under the head “income from house property”:
Provided that at the option of the assessee such amount may be allocated, for the purpose of assessment in
equal proportion to the year in which such amount is received and the four years next following:

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 19
 Provided further that where such amount or part thereof is refunded by the assessee in a subsequent income
year the amount so refunded shall be deducted in computing the income of the assessee in respect of that
income year.
(23) Where during any income year an assessee, being an exporter of garments, transfers to any person, the
export quota or any part thereof allotted to him by the Government, such portion of the export value of the
garments exportable against the quota so transferred as may be prescribed for this purpose shall be deemed to
be income of the assessee for that income year, classifiable under the head “Income from business or
profession”.]
141[ 142[ (24) Where a company, not listed with any stock exchange, receives paid up capital from any
shareholder during any income year in any other mode excepting by crossed cheque or bank transfer, the
amount so received as paid up capital shall be deemed to be the income of such company for that income year
and be classifiable under the head "Income from other sources".]
144[ (26) Where an assessee, being a company, receives any amount as loan 145[ from any other person]
otherwise than by a crossed cheque or by bank transfer, the amount so received shall be deemed to be the
income of such assessee for that income year in which such loan was taken and shall be classifiable under
Omitted F.A
2018 the head "Income from other sources" 146[ :
Provided that where the loan or part thereof referred to in this sub-section is repaid in a subsequent income
year, the amount so repaid shall be deducted in computing the income for that subsequent year]

(27) Where an assessee, being a company, purchases directly or on hire one or more motor car or jeep and
value of any motor car or jeep exceeds ten percent of its 147[ paid up capital together with reserve and
accumulated profit], then fifty percent of the amount that exceeds such ten percent of the 148[ paid up capital
together with reserve and accumulated profit] shall be deemed to be the income of such assessee for that
income year classifiable under the head "Income from other sources".]

149[ (28) Where an assessee, being an individual, receives any sum of aggregate of sums exceeding taka five
lakh as loan or gift from any other person otherwise than by a crossed cheque or by bank transfer, the
Omitted F.A amount so received shall be deemed to be the income of such assessee for that income year in which such
2018 loan or gift was taken and shall be classifiable under the head " Income from other sources" 150[ :
Provided that nothing in this sub-section shall be applicable to a loan or gift from spouse or parents if any
banking or formal channel is involved in the process of such loan or gift.]
151[ (29) Where an assessee, not being an assessee engaged in real estate business during any income year,
purchases on credit any material for the purpose of construction of building or house property or its unit and
fails to pay the sum or any part thereof representing the liability in respect of such purchase, the sum or any
part thereof, 152[ which has not been paid within two years from the end of the income year in which the
purchase was made, shall be deemed to be the income of the assessee for the income year immediately
following the expiry of the said two years and be classifiable under the head "Income from other sources”].

(30) Where an assessee, in the course of any proceedings under this Ordinance, is found to have any sum or
part thereof allowed or deducted but not spent in accordance with the provision of clause (h) of sub-section
(1) of section 25 of this Ordinance, such unspent sum or part thereof shall be deemed to be the income of such
assessee for that income year classifiable under the head “Income from house property”.

153[ (31) Where an assessee files a revised return or an amended return under sections 78, 82BB or 93 and
shows in such revised return or amended return any income that is subject to tax exemption or a reduced tax
rate, so much of such income as exceeds the amount shown in the original return shall be deemed to be
income of the assesseefor that income year classifiable under the head "Income from other sources.]]
154[
155[ ***]
Omitted]
156[
157[ ***]
Omitted]
158[
159[ Omitted]
Omitted]
19B 160[
161[ ***] 162[
Omitted]
19BB 163[
164[ ***]
Omitted]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 20
19BBB 165[
166[ ***]
Omitted]
19BBBB
167[ 168[ ***]
Omitted]

Special tax treatment in respect of investment in residential building and apartment (Section-19BBBBB)
169[ 19BBBBB. (1) Notwithstanding anything contained in this Ordinance, source of any sum invested by
any person, in the construction or purchase of any residential building or apartment, shall be deemed to have
been explained if the assessee pays, before the assessment for the relevant assessment year in which the
investment is completed, tax at the following rate-
(a) for building or apartment situated in the area of Gulshan Model Town, Banani, Baridhara, Motijheel
Commercial Area and Dilkhsha Commercial Area of Dhaka-
(i) taka five thousand per square meter in the case of a building or apartment the plinth area of which does not
exceed two hundred square meter;
(ii) taka seven thousand per square meter in the case of a building or apartment the plinth area of which
exceeds two hundred square meter;
(b) for building or apartment situated in the area of Dhanmandi Residential Area, Defence Officers Housing
Society (DOHS), Mahakhali, Lalmatia Housing Society, Uttara Model Town, Bashundhara Residential Area,
Dhaka Cantonment, Kawran Bazar, Bijaynagar, Segunbagicha, Nikunja of Dhaka, and Panchlaish, Khulshi,
Agrabad and Nasirabad Area of Chittagong-
(i) taka four thousand per square meter in the case of a building or apartment the plinth area of which does not
exceed two hundred square meter;
(ii) taka five thousand per square meter in the case of a building or apartment the plinth area of which exceeds
two hundred square meter;
(c) for building or apartment situated in the area of any City Corporation other than areas mentioned in clauses
(a) or (b)-
(i) taka two thousand per square meter in the case of a building or apartment the plinth area of which does not
exceed two hundred square meter;
(ii) taka three thousand square meter in the case of a building or apartment the plinth area of which exceeds
two hundred square meter;
(d) for building or apartment situated in the area of a Paurasabha of any district headquarters-
(i) 170[ taka six hundred] per square meter in the case of a building or apartment the plinth area of which does
not exceed two hundred square meter;
(ii) 171[ taka eight hudred] per square meter in the case of a building or apartment the plinth area of which
exceeds two hundred square meter;
(e) for building or apartment situated in the area other than the areas mentioned in clauses (a) to (d)-
(i) 172[ taka four hundred] per square meter in the case of a building or apartment the plinth area of which
does not exceed two hundred square meter;
(ii) 173[ taka six hundred] per square meter in the case of a building or apartment the plinth area of which
exceeds two hundred square meter.
(2) The rate of tax mentioned in sub-section (1) shall be twenty percent higher in case where the assessee
already owns a building or apartment in any City Corporation before such investment is completed; or the
assessee makes such investment in two or more buildings or apartments.
(3) The provision of this section shall not apply where the source of such investment, made by the assessee for
the purchase or construction of such residential buildingor apartment, is-
(a) derived from any criminal activities under any other law for the time being in force; or
(b) not derived from any legitimate source.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 21
Special tax treatment in respect of investment in the purchase of bond under Bangladesh Infrastructure
Finance Fund (Section-19C)
174[ 19C.- Notwithstanding anything contained in any other provision of this Ordinance, no question as to the
source of any sum invested by any person in the purchase of bond issued or caused to be issued under
Bangladesh Infrastructure Finance Fund during the period between the first day of July, 2010 and thirtieth day
of June, 2012 (both days inclusive), shall be raised if the assessee pays, before the filing of return of income
for the relevant income year, tax at the rate of ten per cent on such sum invested.]

Voluntary disclosure of income(Section-19E)

177[ 19E. (1) Notwithstanding anything contained in this Ordinance, any person-
(a) who has not been assessed to tax for previous assessment year or years and he has not submitted return of
income for those year or years may disclose such income in the respective heads of income in the return of
income along with the income for the current assessment year; or
(b) who has been assessed to tax for previous assessment year or years and any income has escaped
assessment in those assessments or the amount of income assessed is less than the actual income, may disclose
that income for respective heads of income in the return of income along with the income for the current
assessment year.
(2) Return of income mentioned in sub-section (1) shall be treated as valid, if-
(a) the assessee pays before the submission of return-
(i) tax payable at applicable rate on total income including such income under respective heads of income; and

(ii) penalty at the rate of ten percent of tax proportionate to such income under respective heads of income;

(b) the return of income is submitted within the time specified in 178[ sub-section (5)] of section 75; and
(c) a declaration is enclosed with the return of income in respect of the following:
(i) name of the person declaring;
(ii) head of the declared income and amount thereof; and
(iii) amount of tax and penalty paid thereof.
(3) The provision of this section shall not apply where-
179[ (a) a notice under section 93 has been issued before submission of such return of income for the reason
that any income, assets or expenditure has been concealed or any income or a part thereof has escaped
assessment;]
(b) a notice on a banking company under clause (f) of section 113 has been issued before submission of such
return of income;
(c) any proceeding under sections 164, 165 or 166 has been initiated before submission of such return of
income; 180[ ***]
(d) any income declared under this section is-
(i) not derived from any legitimate source of income; or
(ii) derived from any criminal activities under any other law for the time being in force 181[ ;or
(e) any income declared under this section which is –
(i) exempted from tax in the concerned income year; or
(ii) chargeable to tax at a reduced rate in accordance with section 44 of this Ordinance.
(4) The income shown under this section may be invested in any income generating activities or any sector
including the following:
(a) industrial undertaking including its expansion;
(b) balancing, modernization, renovation and extension of an existing industry;
(c) building or apartment or land;
(d) securities listed with a Stock Exchange in Bangladesh; or
(e) any trade, commercial, or industrial venture engaged in production of goods or services.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 22
 CHAPTER V
COMPUTATION OF INCOME

Heads of income(Section-20)
20. Save as otherwise provided in this Ordinance, all incomes shall, for the purpose of charge of income-tax
and computation of total income, be classified and computed under the following heads of income, namely:-
(a) Salaries.
(b) Interest on securities.
(c) Income from house property.
(d) Agricultural income.
(e) Income from business or profession.
(f) Capital gains.
(g) Income from other sources.

Salaries (Section-21)
21. (1) The following income of an assessee shall be classified and computed under the head “Salaries”,
namely:-
(a) any salary due from an employer to the assessee in the income year, whether paid or not;
(b) any salary paid or allowed to him in the income year, by or on behalf of an employer though not due or
before it became due to him; and
(c) any arrears of salary paid or allowed to him in the income year by or on behalf of an employer, if not
charged to income-tax for any earlier income year.
(2) Where any amount of salary of an assessee is once included in his total income of an income year on the
basis that it had become due or that it had been paid in advance in that year, that amount shall not again be
included in his income of any other year.

Interest on securities (Section-22)

22. The following income of an assessee shall be classified and computed under the head “Interest on
securities”, namely:-
(a) interest receivable by the assessee on any security of 182[ the Government or any security approved by
Government] ; and
(b) interest receivable by him on debentures or other securities of money issued by or on behalf of a local
authority or a company.

Deductions from interest on securities (Section-23)

23. (1) In computing the income under the head “Interest on securities”, the following allowances and
deduction shall be made, namely:-
(a) any sum deducted from interest by way of commission or charges by a bank realising the interest on behalf
of the assessee;
(b) any interest payable on money borrowed for the purpose of investment in the securities by the assessee
183[ :
Provided that no allowance or deduction on account of any interest or commission paid under clause (a) or
(b), as the case may be, in respect of, or allocable to the securities of Government which have been issued
with the condition that interest thereon shall not be liable to tax, shall be made in computing the income under
section 22.]
(2) Notwithstanding anything contained in sub-section (1), no deduction shall be allowed under this section in
respect of any interest payable outside Bangladesh on which tax has not been paid or deducted in accordance
with the provisions of Chapter VII.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 23
 Income from house property (Section-24)
24. (1) The tax shall be payable by an assessee under the head “Income from house property” in respect of the
annual value of any property185[ , whether used for commercial or residential purposes,] consisting of any
building 186[ ,furniture, fixture, fittings etc.] and lands appurtenant thereto of which he is the owner, other
than such portions of the property as he may occupy for the purposes of any business or profession carried on
by him, the income from which is assessable to tax under this Ordinance.
(2) Where any such property as is referred to in sub-section (1) is owned by two or more persons and their
respective shares are definite and ascertainable, such persons shall not constitute and shall not be deemed to
be, an association of persons; and for the purpose of computation of the income of an assessee in respect of
that property, only such part of such income as is proportionate to the share of the assessee shall be reckoned
as his income from that property.

Deductions from income from house property (Section-25)

25. (1) In computing the income under the head ''Income from house property'' the following allowances and
deductions shall be made, namely:-
(a) any sum payable to Government as land development tax or rent on account of the land comprised in the
property;
(b) the amount of any premium paid to insure the property against risk of damage or destruction;
(d) where the property is subject to mortgage or other capital charge for the purpose of extension or
reconstruction or improvement, the amount of any interest payable on such mortgage or charge;
(e) where the property is subject to an annual charge not being a capital charge, the amount of such charge;
Explanation.- The expression ''annual charge'', as used in this clause, includes any tax leviable, in respect of
property or income from property, by local authority or Government but does not include the tax leviable
under this Ordinance;
(f) where the property is subject to a ground rent, the amount of such rent;
(g) where the property has been acquired, constructed, repaired, renewed or reconstructed with borrowed
capital 188[ from bank or financial institution], the amount of any interest payable on such capital 189[ ;]

190[ (gg) Where the property has been constructed with borrowed capital 191[ form bank or financial
institution] and no income under section 24 was earned from that property during the period of such
construction, the interest payable during that period on such capital, in three equal proportionate instalments
for subsequent first three years for which income is assessable from that property;]
192[ (h) in respect of expenditure for repairs, collection of rent, water and sewerage, electricity and salary of
darwan, security guard, pump-man, lift-man and caretaker and all other expenditure related to maintenance
and provision of basic services:
(i) an amount equal to one-fourth of the annual value of the property where the property is used for residential
purpose;
(ii) an amount equal to thirty per cent of the annual value of the property where the property is used for
commercial purpose.]
193[ * * *]
(j) where, the whole of the property is let out and it was vacant during a part of the year, a sum equal to such
portion of the annual value of the property as is proportionate to the period of the vacancy; and
(k) where, the property is let out in parts, a sum equal to such portion of the annual value appropriate to the
vacant part as is proportionate to the period of the vacancy of such part.
(2) Notwithstanding anything contained in sub-section (1), no deduction shall be allowed under this section in
respect of any interest or annual charge payable outside Bangladesh on which tax has not been paid or
deducted in accordance with the provisions of Chapter VII.
(3) [Omitted by section 7 of অথ আইন,ি ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 24
 Agricultural income (Section-26)
26. (1) The following income of an assessee shall be classified and computed under the head “Agricultural
income”, namely:-
(a) any income derived by the assessee which comes within the meaning of “agricultural income” as defined in
section 2(1);
(b) the excess amount referred to in section 19(17);
(c) the excess amount referred to in section 19(19).
(2) Agricultural income derived from the sale of tea grown and manufactured by the assessee shall be
computed in the prescribed manner.
(3) Where the Board, by notification in the official Gazette, so directs, agricultural income from the sale of
rubber, tobacco, sugar or any other produce grown and manufactured by the assessee may be computed in the
manner prescribed for the purpose.

Deductions from agricultural income (Section-27)

27. (1) In computing the income under the head “Agricultural income”, the following allowances and
deductions shall be made, namely:-
(a) any land development tax or rent paid in respect of the land used for agricultural purposes;
(b) any tax, local rate or cess paid in respect of the land used for agricultural purposes, if such tax, rate or cess
is not levied on the income arising or accruing, or deemed to accrue or arise, from agricultural operations or is
not assessed at a proportion or on the basis of such income;
(c) (i) subject to sub-clauses (ii) and (iii), the cost of production, that is to say, the expenditure incurred for the
following purposes, namely:-
(a) for cultivating the land or raising livestock thereon;
(b) for performing any process ordinarily employed by a cultivator to render marketable the produce of the
land;
(c) for transporting the produce of the land or the livestock raised thereon to the market; and
(d) for maintaining agricultural implements and machinery in good repair and for providing upkeep of cattle
for the purpose of cultivation, processing or transportation as aforesaid;
(ii) where books of accounts in respect of agricultural income derived from the land are not maintained, the
cost of production to be deducted shall, instead of the expenditure mentioned in sub-clause (i), be sixty per
cent of the market value of the produce of the land;
(iii) no deduction on account of cost of production shall be admissible under this clause if the agricultural
income is derived by the owner of the land from the share of the produce raised through any system of sharing
of crop generally known as adhi, barga or bhag;
(d) any sum paid as premium in order to effect any insurance against loss of, or damage to, the land or any
crop to be raised from, or cattle to be reared on, the land;
(e) any sum paid in respect of the maintenance of any irrigation or protective work or other capital assets; and
such maintenance includes current repairs and, in the case of protective dykes and embankments, all such
work as may be necessary from year to year for repairing any damage or destruction caused by flood or other
natural causes;
(f) a sum calculated at the rate as provided in the Third Schedule on account of depreciation in respect of
irrigation or protective work or other capital assets constructed or acquired for the benefit of the land from
which agricultural income is derived or for the purpose of deriving agricultural income from the land, if the
required particulars are furnished by the assessee;
(g) where the land is subject to a mortgage or other capital charge for purposes of reclamation or
improvement, the amount of any interest paid in respect of such mortgage or charge;
(h) where the land has been acquired, reclaimed or improved by the use of borrowed capital, the amount of
any interest paid in respect of such capital;
(i) where any machinery or plant which has been used by the assessee exclusively for agricultural purposes
has been discarded, demolished or destroyed in the income year, the amount actually written off on that
account in the books of accounts of the assessee,-
(i) subject to the maximum of the amount by which the written down value of the machinery or plant exceeds
the scrap value thereof if no insurance, salvage or compensation money has been received in respect of such
machinery or plant; and
(ii) subject to the maximum of the amount by which the difference between the written down value and the
scrap value exceeds the amount of insurance, salvage or compensation money received in respect of such
machinery or plant;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 25
(j) where any machinery or plant which has been used by the assessee exclusively for agricultural purposes
has been sold or transferred by way of exchange in the income year, the amount actually written off on that
account in the books of accounts of the assessee, subject to the maximum of the amount by which the written
down value of the machinery or plant exceeds the amount for which it has been actually sold or transferred;
and
(k) any other expenditure, not being in the nature of capital expenditure or personal expenditure, laid out
wholly and exclusively for the purpose of deriving agricultural income from the land.
(2) Notwithstanding anything contained in sub-section (1), no deduction shall be allowed under this section in
respect of any interest on which tax has not been paid or deducted in accordance with the provisions of
Chapter VII.

Income from business or profession (Section-28)

28. (1) The following income of an assessee shall be classified and computed under the head "Income from
business or profession", namely:-
(a) profits and gains of any business or profession carried on, or deemed to be carried on, by the assessee at
any time during the income year;
(b) income derived from any trade or professional association or other association of like nature on account of
specific services performed for its members;
(c) value of any benefit or perquisite, whether convertible into money or not, arising from business or the
exercise of a profession;
(d) the amount, the value of the benefit and the trading liability referred to in section 19(15);
(e) the excess amount referred to in section 19(16);
(f) the excess amount referred to in section 19(18);
(g) the sale proceeds referred to in section 19(20) 194[ ;
(h) the amount of income under section 19 (23)]
Explanation.- Where speculative transactions carried on by an assessee are of such a nature as to constitute a
business, the business (hereinafter referred to as "speculation business") shall be deemed to be distinct and
separate from any other business.
(2) Notwithstanding anything contained in this Ordinance,-
(a) the profits and gains of any business of insurance and the tax payable thereon shall be computed in
accordance with the provisions of the Fourth Schedule;
(b) the profits and gains from the exploration and production of petroleum (including natural gas) and the tax
payable thereon shall be computed in accordance with the provisions of Part A of the Fifth Schedule;
(c) the profits and gains of any business which consists of, or includes, the exploration and extraction of such
mineral deposits of a wasting nature (not being petroleum and natural gas) as may be specified in this behalf
by the Government, carried on by an assessee in Bangladesh shall be computed in accordance with the
provisions of Part B of the Fifth Schedule.
195[ (3) Notwithstanding anything to the contrary contained in any other provisions of the Ordinance, in the
case of 196[ Bangladesh Development Bank Ltd] 197[ , Investment Corporation of Bangladesh 198[ ,any
financial institution]] and any commercial bank including the Bangladesh Krishi Bank and Rajshahi Krishi
Unnayan Bank, the income by way of interest in relation to such categories of bad or doubtful debts as the
Bangladesh Bank may classify in the income year in which it is credited to its profit and loss account for that
year or, as the case may be, in which it is actually received whichever is earlier.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 26
 Deductions from income from business or profession (Section-29)
29. (1) In computing the income under the head "Income from business or profession", the following
allowances and deductions shall be allowed, namely:-
(i) the amount of any rent paid for the premises in which the business or profession is carried on:
Provided that if a substantial part of the premises is used by the assessee as a dwelling-house, the amount shall
be a proportionate part of the rent having regard to the proportionate annual value of the part so used;
(ii) the amount paid for the repair of the hired premises in which the business or profession is carried on if the
assessee has undertaken to bear the cost of such repair:
Provided that if a substantial part of the premises is used by the assessee as a dwelling-house, the amount shall
be a proportionate part of the sum paid for such repair having regard to the proportionate annual value of the
part so used;
(iii) the amount of any interest paid or any profit shared with a bank run on Islamic principles in respect of
capital borrowed for the purposes of the business or profession:
Provided that if any part of such capital relates to replenishing the cash or to any other asset transferred to
199[ any other entity, when lending of money is not the business of transfer or], the amount shall be
proportionate part of the interest so paid or the profit so shared having regard to the proportion of such capital
so used;
(iv) any sum paid or credited to any person maintaining a profit and loss sharing account or deposit with a
bank run on Islamic principles by way of distribution of profits by the said bank in respect of the said account
of deposit;
(v) an amount not exceeding 200[ five per cent] of the total income carried to any special reserve created by
such financial institution and for such purposes as may be approved by the Government in this behalf, if the
aggregate amount standing in such reserve does not exceed the paid up share capital of the institution;
(vi) the amount paid on account of current repairs to buildings, machinery, plant or furniture used for the
purpos
(vii) the whole or the proportionate part of the amount of any premium paid for insurance, against risk of
damage, destruction or loss of buildings, machinery, plant or furniture, stocks or stores according as the whole
or part thereof is used for the purposes of the business or profession;
(viii) in respect of depreciation of building, machinery, plant or furniture, being the property of the assessee
201[ or bridge or road or fly over owned by a physical infrastructure undertaking] and used for the purposes
of business or profession, the allowances as admissible under the Third Schedule;
202[ (viiia) in respect of amortization of license fees as admissible under the Third Schedule;]
(ix) in the case of a ship, being a passenger vessel plying ordinarily on inland waters, or a fishing trawler,
which is entitled to a special depreciation allowance under paragraph 8 of the Third Schedule, an investment
allowance of an amount equivalent to twenty per cent of the original cost to the assessee for the year in which
the ship or the trawler is first put to use for public utility;
(xi) where any building, machinery 205[ , plant or any other fixed asset not being imported software] which,
after having been used by the assessee for the purpose of his business, has been discarded, demolished or
destroyed in any income year or any such asset has been sold, transferred by way of exchange or compulsorily
acquired by a legally competent authority or exported outside Bangladesh in any income year, an obsolescence
allowance to the extent and computed in the manner specified in paragraph 10 of the Third Schedule;

((xii) in the case of any animal which has been used by the assessee for the purpose of business or profession
otherwise than as stock-in-trade, has died or become permanently useless for such purpose, an amount
equivalent to the difference between the original cost of the animal to the assessee and the sum, if any,
realised by sale or other disposition of the carcass, as the case may be, of the animal;

(xiii) any sum paid on account of land development tax or rent, local rates or municipal taxes in respect of
such premises or part thereof as is used by the assessee for the purpose of business or profession;

(xiv) any sum paid in the income year to an employee as bonus or commission for services rendered where
such sum would not have been payable to him as profits or dividend if it had not been paid as bonus or
commission and is reasonable with reference, except in the case of payment of festival bonus, to-
(a) the general practice in similar business or profession,

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 27
(b) the profits of the business or profession in that year, and
(c) the pay and other conditions of service of the employee.
(xv) the amount of any debt or part thereof which is established to have become irrecoverable and has actually
been written off as such in the books of accounts of the assessee for the income year if the debt or part thereof
has been taken into account in computing the income of the assessee of that income year or an earlier income
year and, in the case of the business of banking or money-lending carried on by the assessee, represents
money lent in the ordinary course of business;
(xvi) where any amount of debt or part thereof which has actually been written off as irrecoverable in the
books of accounts of the assessee in any income year but has not been allowed on the ground that it has not
then become irrecoverable, so much of such debt or part thereof as has been established to have become
irrecoverable in any subsequent income year shall be allowed as a deduction in that income year;

(xvii) where any such debt or part thereof is written off as irrecoverable in the books of accounts of the
assessee for an income year and the Deputy Commissioner of Taxes is satisfied that such debt or part thereof
became irrecoverable in an earlier income year not falling beyond a period of four years immediately
preceding the income year in which it was written off, the Deputy Commissioner of Taxes may,
notwithstanding anything contained in this Ordinance, allow such debt or part thereof as a deduction for such
earlier income year if the assessee accepts such finding of the Deputy Commissioner of Taxes and re-compute
the total income of the assessee for such earlier income year and make the necessary amendment; and the
provisions of section 173 shall, so far as may be, apply thereto the period of four years referred to in 207[ the
proviso of sub-section (1)] of that section being reckoned from the end of the year in which the assessment
relating to the income year in which the debt or part thereof is written off was made;

209[ (xviiia) in respect of provision for bad and doubtful debt made by 210[ Bangladesh Development Bank
Ltd] for overdue loan, a sum equal to five per cent of such overdue loan or the amount of actual provision for
such bad or doubtful debt in the books of the assessee, whichever is the less:
Provided that the deduction shall be allowed only in respect of the assessment years 1987-88, 1988-89, 1989-
90 and 1990-91:
Provided further that if any amount out of the amount so allowed is ultimately recovered, the same shall be
deemed to be a profit of the year in which it is recovered;]
211[ (xviiiaa) in respect of provision for bad and doubtful debt and interest thereon made by a commercial
bank including the Bangladesh Krishi Bank 212[ , Karmo shongsthan Bank] and the Rajshahi Krishi Unnayan
Bank, a sum equal to 213[ one per cent] of the total outstanding loan including interest thereon or the amount
of actual provision for such bad or doubtful debt and interest thereon in the books of the assessee, whichever
is less:
Provided that the provisions of this clause shall apply only in respect of such loan as the Bangladesh Bank
may, from time to time, classify as bad or doubtful debt:
214[ Provided further that the deduction shall be allowed only in respect of the assessment years 1990-91,
1991-92, 1992-93, 1993-94, 1994-95215[ ,1995-96, 1996-97, 1997-98, 1998-99] 216[ , 1999-2000, 2000-
2001 217[ , 2001-2002, 2002-2003, 2003-2004 218[ , 2004-2005, 2005-2006 and 2006-2007]]:
Provided further that if any amount out of the amount so allowed is ultimately recovered, the same shall be
deemed to be a profit of the year in which it is recovered 219[ :
Provided further that no deduction under this clause shall be allowed in respect of-
(a) any amount representing grant allowed by the Government in the form of 15-year Special Treasury Bonds;
(b) any loan advanced to any Government organisation, body corporate, local authority, autonomous body, or
any other loan guaranteed by the Government; and
(c) any debt representing loans advanced to any director of the bank, his nominees or dependants 220[ ;
(xix) any expenditure, not being in the nature of capital expenditure, laid out or expended on scientific
research in Bangladesh related to the business carried on by the assessee;
(xx) any expenditure of a capital nature laid out or expended on scientific research in Bangladesh related to
the business carried on by the assessee:
Provided that where a deduction is allowed for any income year under this clause in respect of expenditure
represented wholly or partly by any asset, no deduction shall be allowed under clause (viii) or (ix) for the
same income year in respect of that asset;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 28
(xxi) any sum paid to a scientific research institute, association or other body having as its object the
undertaking of scientific research, or to a University, College, Technical School or other Institution for the
purpose of scientific research or technical training related to the class of business carried on by the assessee, if
such Institute, association or body, or such University, College, Technical School or Institution is, for the time
being, approved by the Board for the purpose of this clause.
Explanation.- In this clause and in clauses (xix) and (xx),-
(a) "scientific research" means any activities in the field of natural or applied science for the extension of
knowledge;
(b) references to expenditure incurred on scientific research do not include any expenditure incurred in the
acquisition of rights in, or arising out of, scientific research, but save as aforesaid, include all expenditure
incurred for the prosecution of, or the provision of facilities for the prosecution of, scientific research;
(c) reference to scientific research related to a business or class of business includes-
(i) any scientific research which may lend to or facilitate an extension of that business or, as the case may be,
all businesses of that class;
(ii) any scientific research of a medical nature which has a special relation to the welfare of workers employed
in that business or, as the case may be, business of that class;
(xxii) any expenditure, not being in the nature of capital expenditure, laid out or expended on any educational
institution or hospital established for the benefit of the employees of the assessee, their families and
dependents or on the training of industrial workers, if-
(a) no charge is made for services rendered by such institution or hospital or for the training of the workers;
and
(b) no deduction or allowance is claimed for such expenditure under any other clause of this section;
(xxiii) any expenditure in the nature of capital expenditure laid out or expended on the construction and
maintenance of any educational institution or hospital established by the assessee for the benefit of his
employees, their families and dependents, or on any institute for the training of industrial workers, if-
(a) no charge is made for the services rendered by such institution or hospital or for the training of the
workers; and
(b) no deduction or allowance is claimed under any other clause of this section for the same income year in
respect of expenditure represented either wholly or partly by any asset;
(xxiv) any expenditure laid out or expended on the training of citizens of Bangladesh in connection with a
scheme approved by the Board for purposes of this clause;
(xxv) any expenditure, not being in the nature of capital expenditure or personal expenses, incurred by an
assessee in connection with visits abroad as a member of a trade delegation sponsored by the Government;
(xxvi) any sum paid on account of annual membership subscription to a registered trade organisation within
the meaning of the Trade Organisations Ordinance, 1961(XLV of 1961), or to a professional institution
recognised by the Board in this behalf;
(xxvii) any expenditure, not being in the nature of capital expenditure or personal expenses of the assessee,
laid out or expended wholly and exclusively for the purpose of the business or profession of the assessee.
(2) Where any premises, building, machinery, plant or furniture is not wholly used for the purposes of
business or profession, any allowance or deduction admissible under this section shall be restricted to the fair
proportional part of the amount which would be allowable if such premises, building, machinery, plant or
furniture was wholly so used.
Explanation.- For the purposes of this section, the expression "plant" includes ships, vehicles, books, scientific
apparatus and surgical and other instruments or equipments used for the purpose of business or profession.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 29
 Deduction not admissible in certain circumstances (Section-30)
30. Notwithstanding anything contained in section 29, no deduction on account of allowance from income from business or
profession shall be admissible in respect of the following, namely:-
(a) any payment which is an income of the payee classifiable under the head "Salaries" if tax thereon has not been paid in
accordance with provisions of Chapter VII;
221[ (aa) any payment made by an assessee to any person if tax thereon has not been deducted and credited in accordance
with the provisions of Chapter VII 222[ ***],]
223[ (aaa) any payment by way of salary to an employee if the employee is required to obtain a twelve-digit Taxpayer’s
Identification Number under the provisions of this Ordinance but fails to obtain the same at the time of making such
payment;]
Omitted F.A 224[ (aaaa) any payment made after the Tax Day by way of salary to an employee if the employee is required to file the
2018 return of income but fails to file the same on or before the Tax Day or obtain time extension, as the case may be;]
Inserted F.A “(aaaa) any payment made by way of salary to an employee for whom the statement under section 108A was not
2018 provided;”;
(b) any payment by way of interest, salary, commission or remuneration made by a firm or an association of persons to any
partner of the firm or any member of the association, as the case may be;
(c) any payment by way of brokerage or commission made to a person who is not a resident in Bangladesh unless tax has
been deducted therefrom under section 56;
(d) any payment to a provident fund or other fund established for the benefit of the employees unless the employer has made
effective arrangements to secure that tax shall be deducted at source from any payments made from the fund which are
taxable being income falling under the head "Salaries";
Omitted & 225[ (e) so much of the expenditure by an assessee on the provision of perquisites, as defined in clause (45) of section 2, to
Inserted F.A any employee as exceeds taka 226[ four lakh and seventy five thousand five lakh and fifty thousand and to any employee
2018 who is a person with disability, as exceeds taka twenty five lakh]:
Provided that the provision of this clause shall not be applicable to an employer where perquisites were paid to an employee
in pursuance of any Government decision published in the official Gazette to implement the recommendation of a Wage
Board constituted by the Government;]
(f) any expenditure in respect of the following as is in excess of the amount or rate prescribed in this behalf and as is not, in
the cases of sales and services liable to excise duty, supported by excise stamp or seal, namely:-

(i) entertainment;
(ii) foreign travels of employees and their dependents for holidaying and recreation;
(iii) publicity and advertisement; and
(iv) distribution of free samples;

Omitted & 227[ (g) any expenditure exceeding ten per cent of the 228[ net profit disclosed in the statement of accounts] under the
Inserted F.A head of Head Office expenses“by way of head office or intra-group expense, called by whatever name,” by a company, not
2018 incorporated in Bangladesh under ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সোনলর ১৮ নং আইন);

Omitted F.A (h) any payment by way of royalty, technical services fee, technical know-how fee or technical assistance fee exceeding
2018 229[ eight percent] of the 230[ net profit disclosed in the statement of accounts];

“(h) so much of the expenditure or aggregate of the expenditure by an assesse by way of royalty, technical services fee,
technical know how fee or technical assistance fee or any fee of similar nature, as exceeds the following:

(i) For the first three income Ten percent (10%) of the net profit disclosed in
Inserted F.A years from the commencement the statement of accounts;
2018 of the business or profession

(ii) For subsequent income Eight percent (8%) of the net profit disclosed in
years the statement of accounts;”।
(i) any payment by way of salary or remuneration madeotherwise than by crossed cheque or bank transfer by a
person to any employee having gross monthly salary of taka fifteen thousand or more;
(j) any expenditure by way of incentive bonus exceeding ten per cent of the 231[ net profit disclosed in the
statement of accounts];
(k) any expenditure by way of overseas traveling exceeding 232[ one point two five percent (1.25%)] of the
disclosed turnover 233[ 234[ :

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 30
Provided that nothing of this clause shall apply to the overseas traveling expenses by an assessee engaged in
providing any service to the Government where overseas traveling is a key requirement of that service;]

(l) any payment by way of commission paid or discount made to its shareholder director by a company;
(m) any payment by a person exceeding taka fifty thousand or more, otherwise than by a crossed cheque or
bank transfer excluding-
(i) payment for the purchase of raw materials;
(ii) salary or remuneration made to any employee, without prejudice to an obligation referred to in clause (i) ;
(iii) any payment for government obligation 235[ ;
(n) any payment by way of any rent of any property, whether used for commercial or residential purposes,
otherwise than by a crossed cheque or bank transfer 236[ ;
(o) any payment made to a person who is required to obtain a twelve-digit Taxpayer’s Identification Number
under clauses (xxviii), (xxix) and (xxx) of sub-section (3) of section 184A but fails to hold the same at the
time of payment.]]]]

Provision for disallowance (Section-30A)

237[ 30A. Notwithstanding anything contained in sections 28, 29 and 30, the Deputy Commissioner of Taxes
shall not make any disallowance or deduction for any year from any claim made by an assessee in the trading
account or profit or loss account without specifying reason for such disallowance or deduction.]

Capital gains (Section-31)

31. Tax shall be payable by an assessee under the head “Capital gains” in respect of any profits and gains
arising from the transfer of a capital asset and such profits and gains shall be deemed to be the income of the
income year in which the transfer took place. 238[ ***]

Computation of capital gains(Section-32)

32. (1) The income under the head “Capital gains” shall be computed after making the following deduction
from the full value of the consideration received or accruing from the transfer of the capital asset or the fair
market value thereof, whichever is higher, namely:-
(a) any expenditure incurred solely in connection with the transfer of the capital asset; or
(b) the cost of acquisition of the capital asset and any capital expenditure incurred for any improvements
thereto but excluding any expenditure in respect of which any allowance is admissible under any provisions of
sections 23, 29 and 34.
(1A) [Omitted by section 4 of অথ আইন,ি ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন).]
(2) For the purpose of this section, “cost of acquisition of the capital asset” means-
(i) where it was acquired by the assessee by purchase, the actual cost of acquisition; and
(ii) where it became the property of the assessee-
(cc) under a deed of gift, bequest or will; or
(ccc) under a transfer on a revocable or irrevocable trust; or]
(d) on any distribution of capital assets on the liquidation of a company; or
(e) on any distribution of capital assets on the dissolution of a firm or other association of persons or the
partition of a Hindu undivided family;
the actual cost of acquisition to the previous owner of the capital asset as reduced by the amount of
depreciation, if any, allowed to the previous owner; and where the actual cost of acquisition to the previous
owner cannot be ascertained, the fair market value at the date on which the capital asset became the property
of the previous owner:
Provided that where the capital asset is an asset in respect of which the assessee has obtained depreciation
allowance in any year, the cost of acquisition of the capital asset to the assessee shall be its written down value
increased or diminished, as the case may be, by any adjustment made under section 19(16) or (17) or section
27(1)(j) or section 29(1) (xi) 242[ :
244[ Provided further that where the capital asset became the property of the assessee by succession, inheritance or
devolution, the actual cost of acquisition of the capital asset to the assessee shall be the fair market value of the property
prevailing at the time the assessee became the owner of such property.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 31
(3) Where in the opinion of the Deputy Commissioner of Taxes the fair market value of a capital asset transferred by an
assessee as on the date of transfer exceeds the full value of the consideration declared by the assessee by an amount of not
less than fifteen per cent of the value so declared, the fair market value of the capital asset shall be determined with the
previous approval of the Inspecting Joint Commissioner.
(4) Where in the opinion of the Deputy Commissioner of Taxes the fair market value of a capital asset transferred by an
assessee as on the date of the transfer exceeds the declared value thereof by more than twenty-five per cent of such declared
value, the Government may offer to buy the said asset in such manner as may be prescribed.

(5) Notwithstanding anything contained in this section or section 31, where a capital gain arises from the transfer of a
capital asset which immediately before the date on which the transfer took place was being used by the assessee for the
purposes of his business or profession and the assessee has, within a period of one year before or after that date, purchased
a new capital asset for the 245[ * * *] purposes of his business or profession, then, instead of the capital gain being charged
to tax as income of the income year in which the transfer took place, it shall, if the assessee so elects in writing before the
assessment is made, be dealt with in accordance with the following provisions of this sub-section, that is to say-

(a) if the amount of the capital gains is greater than the cost of acquisition of the new asset,-
(i) the difference between the amount of the capital gain and the cost of acquisition of the new asset shall be charged under
section 31 as income of the income year, and
(ii) for the purposes of computing in respect of the new asset any allowance under the Third Schedule or the amount of any
capital gain arising from its transfer, the cost of acquisition or the written down value, as the case may be, shall be nil, or

(b) if the amount of the capital gain is equal to or less than the cost of acquisition of the new asset,-
(i) the capital gain shall not be charged under section 31, and
(ii) for the purposes of computing in respect of the new asset any allowance under the Third Schedule or any income under
section 19(16) or the amount of any capital gain arising from its transfer, the cost of acquisition or the written down value,
as the case may be, shall be reduced by the amount of the capital gain:
Provided that where in respect of the purchase of a new capital asset consisting of plant or machinery, the assessee satisfies
the Deputy Commissioner of Taxes that despite the exercise of due diligence it has not been possible to make the purchase
within the period specified in this sub-section, the Deputy Commissioner of Taxes may, with the prior approval of the
Inspecting Joint Commissioner, extend the said period to such date as he considers reasonable.

(6) Omitted by section 57 of অথ আইন,

ি ২০০০ (২০০০ সননর ১৫ নং আইন).]

246[ (7) Notwithstanding anything contained in this section or section 31, where a capital gain arises from the transfer of a
capital asset being Government securities 247[ ***], 248[ * * *] then no tax shall be charged under section 31.]

(8) [Omitted by section 57 of অথ আইন,

ি ২০০০ (২০০০ সননর ১৫ নং আইন).]
(9) [Omitted by section 57 of অথ আইন,
ি ২০০০ (২০০০ সননর ১৫ নং আইন).]
(10) Notwithstanding anything contained in this section or section 31, where a capital gain arises from the transfer of
capital being buildings or lands to a new company registered under 249[ the Companies Act, 1913 (VII of 1913) or
ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন),] for setting up of an industry, and if the whole amount of capital
gain is invested in the equity of the said company, then the capital gain shall not be charged to tax as income of the year in
which the transfer took place.
(11) Notwithstanding anything contained in this section or section 31, where a capital gain arises from the transfer of a
capital asset of a firm to a new company registered under 250[ the Companies Act, 1913 (VII of 1913) or ক োম্পোনী আইন,
১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)], and if the whole amount of the capital gain is invested in the equity of the said
company by the partners of the said firm, then the capital gain shall not be charged to tax as income of the year in which the
transfer took place.]
252[ (12) Notwithstanding anything contained in 253[ sub-sections (5), (7), (10) and (11)], no exemption shall be allowed
to any person on so much of profits and gains arising out of the transfer of a capital asset as is attributable to the cost of
acquisition of such asset in respect of which any investment allowance referred to in paragraphs 1, 2, 3, 4, 5, 6, 8, 9, 10 and
11 of PART B of THE SIXTH SCHEDULE to this Ordinance was at any time allowed.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 32
 Income from other sources (Section-33)
33. The following income of an assessee shall be classified and computed under the head “Income from other
sources”, namely:-
(a) dividend and interest;
(b) royalties and fees for technical services;
(c) income from letting of machinery, plants or furniture belonging to the assessee, and also of buildings
belonging to him if the letting of buildings is inseparable from the letting of the machinery, plant or furniture;
(d) any income to which section 19(1), (2), (3), (4), (5), (8), (9), (10), (11), (12), (13), (21), 254[ (21A),
(21B), (24), (26), (27) 255[ , (28), (29) or (31)] applies];

Deductions from income from other sources (Section-34)

34. (1) The amount of interest paid in respect of money borrowed for the purpose of acquisition of shares of a
company.
(2) Any expenditure, not being in the nature of capital expenditure or personal expenses of the assessee,
incurred solely for the purpose of making or earning the relevant income.
(3) Where the income is derived from letting on hire of machinery, plant or furniture belonging to the assessee
and also of building belonging to him if the letting of the building is inseparable from the letting of such
machinery, plant or furniture, the same allowances as are admissible under section 29(1)(vi), (vii), (viii) and
(xi) to an assessee in respect of income under the head “Income from business or profession” subject to the
same conditions and limitations as if the income from such letting on hire were income from business or
profession:
Provided that the provisions of section 19(16) shall also be applicable for the determination of any profits
where the sale proceeds of such machinery, plant, furniture or building exceeds the written down value
thereof.
(4) Notwithstanding anything contained in this section, no allowance shall be made on account of-
(a) any interest chargeable under this Ordinance which is payable outside Bangladesh on which tax has not
been paid and from which tax has not been deducted at source under section 56; or
(b) any payment which is chargeable under the head “Salaries” if tax has not been paid thereon or deducted
therefrom under section 50.

Method of accounting (Section-35)

35. (1) All income classifiable under the head 256[ "Agricultural income",] "Income from business or
profession" or "Income from other sources" shall be computed in accordance with the method of accounting
regularly employed by the assessee.
257[ (2) Notwithstanding anything contained in sub-section (1), the Board may, in case of any business or
profession, or class of business or profession, or any other source of income, or any class of persons or class
of income, by a general or special order, direct that the accounts and other documents shall be maintained in
such manner and form, and the mode of payments of commercial transactions recorded in such manner and
form, as may be prescribed or as may be specified in such direction; and thereupon the income of the assessee
shall be computed on the basis of the accounts maintained, payments made and transactions recorded
accordingly.]
(3) Without prejudice to the preceding sub-sections, every public or private company as defined in 258[ the
Companies Act, 1913 (VII of 1913) or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)] 259[ * * *] shall,
with the return of income required to be filed under this Ordinance for any income year, furnish a copy of
Omitted F.A the trading account, profit and loss account and the balance sheet in respect of that income year 260[
2018 certified by a chartered accountant to the effect that 261[ the accounts are maintained and the statements
are prepared and reported in accordance with the Bangladesh Accounting Standards (BAS) and the
Bangladesh Financial Reporting Standards (BFRS), and are audited in accordance with the Bangladesh
Standards on Auditing (BSA)]].

“(3) Without prejudice to the preceding sub-sections, every company as defined in the Companies Act, 1913
(VII of 1913) or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)shall, with the return of income
required to be filed under this Ordinance, furnish a copy of the trading account, profit and loss account and
the balance sheet in respect of the relevant income year-
(a) certified by a chartered accountant to the effect that the accounts are-
Inserted F.A
2018
UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )
Page 33
Inserted F.A (i) maintained and the statements are prepared and reported in accordance with Bangladesh Accounting
2018 Standards (BAS) and Bangladesh Financial Reporting Standards (BFRS) or in accordance with International
Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) as adopted in Bangladesh;
and
(ii) audited in accordance with the Bangladesh Standards on Auditing (BSA);
(b) signed by the persons including as many directors as required under sub-sections (1) and (2) of section
189 of ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন);”;
(4) Where-
(a) no method of accounting has been regularly employed, or if the method employed is such that, in the
opinion of the Deputy Commissioner of Taxes, the income of the assessee cannot be properly deducted
therefrom; or
(b) in any case to which sub-section (2) applies, the assessee fails to maintain accounts, make payments or
record transactions in the manner directed under that sub-section; or
(c) a company 262[ * * *] has not complied with the requirements of sub-section (3);
Inserted F.A the income of the assessee shall be computed on such basis and in such manner as the Deputy Commissioner
2018 of Taxes may think fit.“or the certification of accounts is not found verifiable”

Allocation of income from royalties, etc, for literary works, etc (Section-36)
36. Where the time taken by the author of a literary or artistic work in the making thereof exceeds twelve
months, the amount received or receivable by him during any income year in lump sum on account of royalties
or copyright fees in respect of that work shall, if he so claims, be deemed to be the income of-
(a) the income year in which it is received and the immediately preceding income year if the time taken in
making such work exceeds twelve months but does not exceed twenty-four months; and
(b) the income year in which it is received and the two immediately preceding income years if the time taken
in making such work exceeds twenty-four months, and shall be allocated in equal proportions to each such
income year and the income of the assessee in respect of an income year shall be computed accordingly.
Explanation.- For the purposes of this section, the expression “author” includes a joint author and the
expression “lump sum” in regard to royalties or copyright fees includes an advance payment on account of
such royalties or copyright fees which is not returnable.

Set off of losses (Section-37)

37. Where, in respect of any assessment year, the net result of computation of income under any head is a loss,
the assessee shall, subject to the other provisions of this Ordinance, be entitled to have the amount of such
loss set off against his income, if any, assessable for that assessment year under any other head:

263[ Provided that any loss in respect of any speculation business or any loss under the head “Capital gains”
or any loss from any other source, income of which is exempted from tax shall not be so set off, but shall,
excluding any loss from any other source, income of which is exempted from tax, in accordance with the
provisions of this Ordinance, be set off, or be carried forward to succeeding assessment year or years for set
off, against any income in respect of speculation business or any income under the head “Capital gains”:]
Provided further that for the purposes of this section the Deputy Commissioner of Taxes shall, in computing
any loss, deduct any amount received in cash as subsidy from the Government 264[ :]
265[ Provided further that any loss in respect of any income from business or profession shall not be so set
off, or be carried forward to succeeding assessment year or years for set off, against any income from house
property 266[ :
Provided further that any loss in respect of any income from any head shall not be so set off against any
income from manufacturing of cigarette 267[ , bidi, zarda, chewing tobacco, gul or any other smokeless
tobacco or tobacco products].]]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 34
 Carry forward of business losses (Section-38)
38. Where, for any assessment year, the net result of the computation of income under the head “Income from
business or profession” is a loss to the assessee, not being a loss sustained in a speculation business, and such
loss has not been wholly set off under section 37, so much of the loss as has not been so set off, the whole of
the loss, where the assessee has no income under any other head or has income only under the head “Capital
gains”, shall be carried forward to the next following assessment year, and-

(a) it shall be set off against the income, if any, from the business or profession for which the loss was
originally computed if such business or profession continued to be carried on by him in the income year; and
(b) if the loss cannot be wholly so set off, the amount of the loss not so set off shall be carried forward to the
next assessment year and so on for not more than six successive assessment years.

Carry forward of loss in speculation business (Section-39)

39. (1) Where, for any assessment year, the result of computation of income in respect of any speculation
business carried on by the assessee is a loss, it shall be set off only against the income, if any, from any other
speculation business carried on by him and assessable for that assessment year.
(2) Where, for any assessment year, any loss computed in respect of a speculation business has not been
wholly set off under sub-section (1), so much of the loss as has not been so set off, or the whole loss where
the assessee has no income from any other speculation business, shall, subject to the provisions of this
Ordinance, be carried forward to the next following assessment year, and-
(a) it shall be set off against the income, if any, from any speculation business carried on by him and
assessable for that assessment year; and
(b) if the loss cannot be wholly so set off, the amount of loss not so set off shall be carried forward to the next
assessment year and so on for not more than six successive assessment years.

Carry forward of loss under the head “Capital gains” (Section-40)

40. (1) Where, in respect of any assessment year, the net result of computation of income from any source
under the head “Capital gains” is a loss, it shall be set off only against income from any other source falling
under that head and assessable for that year.
(2) Where, for any assessment year, any loss computed under the head “Capital gains” has not been wholly set
off under sub-section (1), so much of the loss as has not been so set off, or the whole loss where the assessee
has no income from any other source falling under that head, shall, subject to the provisions of this Ordinance,
be carried forward to the next following assessment year, and-

(a) it shall be set off against income, if any, of the assessee under that head and assessable for that year; and
(b) if the loss cannot be wholly so set off, the amount of loss not so set off shall be carried forward to the next
assessment year and so on for not more than six successive assessment years.
(3) Where, in respect of any assessment year, the loss computed under the head “Capital gains” does not
exceeds five thousand taka it shall not be carried forward and where it exceeds five thousand taka only so
much of such loss shall be carried forward as exceeds five thousand taka.

Carry forward of loss under the head “Agricultural income”(Section-41)

41. Where, for any assessment year, the net result of the computation of income under the head “Agricultural
income” is a loss to the assessee, and such loss has not been wholly set off under section 37, so much of the
loss as has not been so set off, or the whole of the loss, where the assessee has no income under any other
head or has income only under the head “Capital gains”, shall be carried forward to the next following
assessment year, and-
(a) it shall be set off against agricultural income, if any, of the assessee assessable for that assessment year; and
(b) if the loss cannot be wholly so set off the amount not so set off shall be carried forward to the next
assessment year and so on for not more than six successive assessment years.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 35
 Conditions and limitations of carrying forward of loss, etc (Section-42)
42. (1) The provisions of sections 37, 38, 39, 40 and 41 shall have effect subject to the conditions and
limitations set out in this section.
(2) [Omitted by section 6 of অথ আইন, ি ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন).]
(3) In the case of 268[ a firm],-
(a) Where the assessee is the firm, the loss sustained by it under any head of income shall be set off under
section 37 only against the income of the firm under any other head and not against the income of any of the
partners of the firm; and
(b) where the assessee is a partner of the firm, he shall not be entitled to have any loss, sustained by the firm
carried forward and set off against his own income.
(4) Where any person carrying on any business or profession has been succeeded in such capacity by another
person otherwise than by inheritance, no person, other than the person incurring the loss, shall be entitled to
have the loss in such business or profession set off against his income under any other head.
(5) In the case of a firm in the constitution of which a change has occurred,-
(a) the firm shall not be entitled to set off so much of the loss proportionate to the share of a retired or
deceased partner as exceeds his share of profits, if any, of the income year in the firm; and
(b) a partner of the firm shall not be entitled to the benefit of any portion of the said loss as is not
apportionable to him.
(6) Where, in making an assessment for any year, full effect cannot be given to the allowances referred to in
section 29(1) (viii) owing to there being no profits or gains chargeable for that year or such profits or gains
being less than the allowance then, subject to the provisions of sub-section (7), the allowance or part of the
allowance to which effect has not been given, as the case may be, shall be added to the amount of the
allowance for depreciation for the following year and be deemed to be part of that allowance or if there is no
such allowance for that year, be deemed to be the allowance for that year and so on for succeeding years.
(7) Where, under sub-section (6), depreciation allowance is also to be carried forward, effect shall first be
given to the provisions of sections 38 and 39 (2).

Computation of total income (Section-43)

43. (1) For the purpose of charge of tax, the total income of an assessee shall be computed in the manner
provided in this ordinance.
(2) In computing the total income of an assessee, there shall be included any exemption or allowance specified
in part B of the Sixth Schedule and any income deemed to be the income of the assessee under section 19,
subject to the limits, conditions and qualifications laid down therein.
(3) Where the assessee is a partner of a firm, then, whether the firm has made a profit or a loss, his share
(whether a net profit or a net loss) shall be taken to be any salary, interest, commission or other remuneration
payable to him by the firm in respect of the income year increased or decreased respectively by his share in the
balance of the profit or loss of the firm after the deduction of any interest, salary, commission or other
remuneration payable to any partner in respect of the income year 269[ * * *] and such share shall be included
in his total income:
Provided that if his share so computed is a loss, such loss may be set off or carried forward and set off in
accordance with the provisions of section 42.
(4) In computing the total income of any individual for the purpose of assessment, there shall be included-

(a) so much of the income of the spouse or minor child of such individual as arises, directly or indirectly,-
(i) from the membership of the spouse in a firm of which such individual is a partner;
(ii) from the admission of the minor child to the benefits of partnership in a firm of which such individual is a
partner;
(iii) from assets transferred directly or indirectly to the spouse 270[ otherwise than by way of gift or for
adequate consideration] or in connection with an agreement to live apart; or
(iv) from assets transferred directly or indirectly to the minor child, not being a married daughter, by such
individual 271[ otherwise than by way of gift or for adequate consideration]; and
(b) so much of the income of any person or association of persons as arises from assets transferred, 272[
otherwise than by way of gift or for adequate consideration], to such person or association or persons by such
individual for the benefit of the spouse or minor child or both.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 36
(5) All income arising to any person by virtue of a settlement or disposition whether revocable or not from
assets remaining the property of the273[ settlor] or disponer, shall be deemed to be income of the 274[ settlor]
or disponer, and all income arising to any person by virtue of a revocable transfer of assets shall be deemed to
be income of the transferor and shall be included in the total income of such person 275[ .
(6) For the purpose of sub-section (5),-
(a) a settlement, disposition or transfer shall be deemed to be revocable if it contains any provision for the
retransfer directly or indirectly of the income or assets to the 276[ settlor], disponer or transferor, or in any
way gives the 277[ settlor], disponer or transferor a right to resume power directly over the income or assets;
(b) the expression “settlement or disposition” shall include any disposition, trust, covenant, agreement or
arrangement, and the expression 278[settlor] or disponer, in relation to a settlement or disposition, shall
include any person by whom the settlement or disposition was made.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 37
 CHAPTER VI
EXEMPTIONS AND ALLOWANCES
Exemption (Section-44)
44. (1) Notwithstanding anything contained in this Ordinance, any income or class of income or the income of
any person or class of persons specified in Part A of the Sixth Schedule shall be exempt from the tax payable
under this Ordinance, subject to the limits, conditions and qualifications laid down therein and shall be
excluded from the computation of total income under this Ordinance.
279[ (2) Subject to the provisions of this Ordinance and the limits, conditions and qualifications laid down in
Part B of the Sixth Schedule,-
(a) tax shall not be payable by an assessee in respect of any income or any sum specified in paragraphs 15 and
16 of the said Part B; and
280[ (b) an assessee, being a resident or a non-resident Bangladeshi, shall be entitled to a credit from the
amount of tax payable on his total income of the following amount:

Total Income Amount of credit

(i) if the total income does not 15% of the eligible amount;

(ii) if the total income exceeds ((i) 15% of the first two lakh fifty
taka ten lakh but does not thousand of the eligible amount; and
exceed taka thirty lakh (ii) 12% on the rest of the eligible amount;

(i) 15% of the first two lakh fifty

thousand of the eligible amount; and
(iii) if the total income exceeds
taka thirty lakh (ii) 12% of the next five lakh of the
eligible amount; and

(iii) 10% on the rest of the eligible

(c) the “eligible amount” mentioned in clause (b) shall be the lesser of-
(i) the sums specified in all paragraphs excluding paragraphs 15 and 16 of Part B of the Sixth Schedule; or
(ii) 25% of the total income excluding any income for which a tax exemption or a reduced rate is applicable
under sub-section (4) of section 44 or any income from any source or sources mentioned in clause (a) of sub-
section (2) of section 82C; or
(iii) one crore and fifty lakh taka.”;].
Provided that the amount admissible under clause (a) shall not, under any circumstances, exceed 282[ thirty
per cent] of the total income of the assessee.]
(4) The Government may, by notification in the official Gazette,-
(a) make such amendments by way of addition, omission, alteration or qualification in the Sixth Schedule as it
may deem fit; and
(b) make any exemption, reduction in rate or other modifications in respect of tax in favour of any class of
income or in regard to the whole or any part of the income of any class of persons 283[ .***]
284[ (5) Notwithstanding anything contained in clause (b) of sub-section (4) or any other section in Chapter
VI-
(a) the income of a person for the relevant income year shall not be-
(i) exempted from tax; or
(ii) be subject to reduced rate of tax;
in an assessment year if the person fails to submit the return of income, as required under section 75;
(b) any disallowance of expenditure under section 30, in calculating the income of a source or of a person that
is exempted from tax or is subject to a reduced rate of tax, shall be treated as income for that source or of that
person, as the case may be, and tax shall be payable on such income at the regular rate.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 38
 Exemption of income of an industrial undertaking (Section-45)
45. (1) Subject to the provisions of this Ordinance, the income, profits and gains of an industrial undertaking
set up in Bangladesh between the first day of July, 1974, and the thirtieth day of June, 1985 (both days
inclusive), shall be exempt from tax payable under this Ordinance for the period specified below-
(a) if the undertaking is set up in such areas as the Board may, by notification in the official Gazette, specify to
be “Special Economic Zone”, for a period of twelve years beginning with the month of commencement of
commercial production of the undertaking;
(b) if the undertaking is set up in such areas as the Board may, by notification in the official Gazette, specify
in this behalf, for a period of nine years beginning with the month of commencement of commercial
production of the undertaking; and
(c) in other areas, for a period of five years beginning with the month of such commencement.
Explanation.- For the purposes of this section, “industrial undertaking” includes expansion of an existing
undertaking if such expansion constitute-
(a) an identifiable unit for production of similar or other goods or class of goods; or
(b) a similar unit carrying on an identifiable industrial process, but does not include an undertaking which is
formed by splitting up or reconstruction of an existing business or by the transfer of machinery or plant of an
existing business in Bangladesh to a new business.
(2) The exemption under sub-section (1) shall apply to an industrial under-taking (hereinafter referred to as
the “said undertaking”) which fulfils the following conditions, namely:-
(a) that the said undertaking is owned and managed by-
(i) a body corporate established by, or in pursuance of, an Act of Parliament with its head office in
Bangladesh; or
(ii) a company registered under the Companies Act, 1913 (VII of 1913), with its registered office in
Bangladesh and having a subscribed and paid up capital of not less than one lakh taka on the date of
commencement of commercial production;
(b) that the said undertaking belongs to such class of industry as the Board may, by notification in the official
Gazette, specify for the purposes of this section;
(c) that a part of the income exempted under this section is reinvested in the said undertaking or is invested in
the purchase of bond issued by the Government and such reinvestment or investment is not-
(i) less than fifteen per cent of such income, if it is an undertaking set up in the areas referred to in sub-section
(1) (a) and (b); and
(ii) less than thirty per cent in other areas;
(d) that the said undertaking is approved and, during the relevant income year, stands approved by the Board
for the purposes of this section;
(e) that the application in the prescribed form for approval for the purposes of this section, as verified in the
prescribed manner, is made to the Board within one hundred and twenty days from the date of commencement
of commercial production:
Provided that the Board may admit an application after the expiry of the said period of one hundred and
twenty days if it is satisfied that there was sufficient cause for not making the application within the said
period.
285[ (2A) Subject to the provisions of this Ordinance, the income, profits and gains of an industrial
undertaking set up in Bangladesh between the first day of July, 1985, and the thirtieth day of June, 286[ 1995]
(both days inclusive), shall be exempt from the tax payable under this Ordinance for the period specified
below-
(a) if the undertaking is set up in such areas as the Board may, by notification in the official Gazette, specify to
be “Special Economic Zone”, for a period of twelve years beginning with the month of commencement of
commercial production of the undertaking;
(b) if the undertaking is set up in such areas as the Board may, by notification in the official Gazette, specify
to be “Least Developed Areas”, for a period of nine years beginning with the month of commencement of
commercial production of the undertaking;
(c) if the undertaking is set up in such areas as the Board may, by notification in the official Gazette, specify to
be “Less Developed Areas”, for a period of 287[ seven years] beginning with the month of commencement of
commercial production of the undertaking; and
(d) if the undertaking is set up in the city of Dhaka, Chittagong or Khulna or the municipality of Narayanganj,
or within ten miles from the outer limits thereof, for a period of 288[ five years] beginning with the month of
commencement of commercial production of the undertaking.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 39
(2B) The exemption under sub-section (2A) shall apply to an industrial undertaking (hereinafter referred to as the
“said undertaking”) which fulfils the following conditions, namely:-
(a) that the said undertaking is owned and managed by-

(i) a body corporate established by, or in pursuance of, an Act of Parliament with its head office in Bangladesh; or

(ii) a company registered under 289[ the Companies Act, 1913 (VII of 1913) or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪
সননর ১৮ নং আইন)] with its registered office in Bangladesh and having a subscribed and paid up capital of not less
than one lakh taka on the date of commencement of commercial production;
(b) that the said undertaking belongs to such class of industry as the Board may, by notification in the official
Gazette, specify for the purpose of this sub-section;

(cc) that a part of the income exempted under sub-section (2A) is invested, 292[ during the period, or within one year
from the end of the period,] to which the exemption under that sub-section relates, in the said undertaking or in any
new industrial undertaking or in any productive assets being stocks and shares of a public company or bonds or
securities issued by the Government and such investment is not less than 293[thirty per cent] of such income, failing
which the income so exempted shall, notwithstanding the provisions of this Ordinance, be subject to tax in the
assessment year for which the exemption was allowed 294[ :

Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend, if any,
declared by the company enjoying tax exemption under this section;]]
(d) that the said undertaking is approved and, during the relevant income year, stands approved by the Board for the
purposes of this section;
(e) that the application in the prescribed form for approval for the purposes of this section, as verified in the
prescribed manner, is made to the Board within 295[ one hundred and eighty days] from the date of commencement
of commercial production:
Provided that the Board may admit an application after the expiry of the said period of 296[ one hundred and eighty
days] if it is satisfied that there was sufficient cause for not making the application within the said period.]

297[ (2C) The Board shall give its decision on an application made under clause (e) of sub-section (2B) within 298[
three months] from the date of receipt of the application by the Board, failing which the undertaking shall be deemed
to have been approved by the Board for the purposes of this section.]
(3) The income, profits and gains of the said undertaking to which this section applies, shall be computed in
accordance with the provisions of sections 28 and 29:
299[ Provided that in respect of depreciation, only the allowances for normal depreciation specified in paragraph 3 of
the Third Schedule shall be allowed.]

(4) The profits and gains of the said undertaking shall be computed separately from other income, profits and gains of
the assessee, if any, and where the assessee sustains a loss from such undertaking, it shall be carried forward and set
off against the profits and gains of the said undertaking for the following year, and where it cannot be wholly set off,
the amount of the loss not so set off, shall be carried forward for the next year and so on, but no loss shall be carried
beyond the period of exemption allowed under this section.

(5) Nothing contained in this section shall be so construed as to exempt the following:-
(a) any dividend paid, credited or distributed or deemed to have been paid, credited or distributed by a company to its
share-holders out of the profits and gains exempt from tax under this section; and

(b) any income of the said undertaking classifiable as “Capital gains” chargeable under the provisions of section 31.

(6) Where any exemption has been allowed under this section and it is subsequently discovered by the Deputy
Commissioner of Taxes that any one or more of the conditions specified in this section were not fulfilled, the
exemption originally allowed shall be deemed to have been wrongly allowed, and the Deputy Commissioner of
Taxes may, notwithstanding anything contained in this Ordinance, re-compute the total income of, and the tax
payable by, the assessee for the relevant income year and the provisions of Section 93 or 94 shall, so far as may be,
apply thereto, the period of two years specified in section 94 being reckoned from the end of the assessment year
relevant to the income year in which the infringement was discovered.

(7) An industrial undertaking approved under this section may, not later than six months from the date of approval,
apply in writing to the Board for the cancellation of such approval, and the Board may pass such orders thereon as it
may deem fit.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 40
300[ (8) Notwithstanding anything contained in this section, the Board may, in the public interest, cancel or suspend
fully or partially any exemption allowed under this section.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 41
 Exemption of income of a tourist industry (Section-46)
46. (1) Subject to the provisions of this Ordinance, the income, profits and gains of a tourist industry set up in
Bangladesh between the first day of January, 1976, and the thirtieth day of June, 1985 (both days inclusive),
shall be exempt from the tax payable under this Ordinance, for the period specified below-
(a) if the industry is set up in such areas as the Board may, by notification in the official Gazette, specify to be
“Special Economic Zone”, for a period of twelve years beginning with the commencement of its commercial
service;
(b) if the industry is set up in the cities of Dhaka, Chittagong, Khulna and Rajshahi and the areas within
fifteen miles from the outer municipal limits of those cities, for a period of five years beginning with the
month of commencement of its commercial service; and
(c) in other areas, for a period of seven years beginning with the month of such commencement.
Explanation.- For the purposes of this section, the expression “tourist industry” means a business, industry or
undertaking which caters for the tourists including setting up, establishment or running of hotels, motels, 301[
hunting lodges, amusement and theme park, holiday home, tourist resort, family fun and games, energy park]
and private picnic spots of such standard as may be prescribed by the Board.
(2) The exemption under sub-section (1) shall apply to a tourist industry (hereinafter referred to as the “said
industry”), which fulfils the following conditions, namely:-
(a) that the said industry is owned and managed by a Bangladeshi company having a subscribed and paid up
capital of not less than one lakh taka on the date of commencement of its commercial service;
(b) that the said industry shall have such service facilities as the Board may, by notification in the official
Gazette, specify in this behalf;
(c) that a part of the income, profits and gains derived from the said industry exempted under sub-section (1)
is reinvested in it or is invested in the purchase of bond issued by the Government, and such reinvestment or
investment is not-
(i) less than thirty per cent, if it is an industry set up in the areas referred to in sub-section (1) (b); and
(ii) less than fifteen per cent, in other areas;
(d) that an application in the prescribed form for approval for the purposes of this section, as verified in the
prescribed manner, is made to the Board within one hundred and twenty days of the date of commencement of
commercial service;
(e) that the said industry is approved and, during the relevant income year, stands approved by the Board for
the purposes of this section.
302[ (2A) Subject to the provisions of this Ordinance, the income, profits and gains of a tourist industry set up
in Bangladesh between the first day of July, 1985, and the thirtieth day of June, 303[ 2000] (both days
inclusive), shall be exempt from the tax payable under this Ordinance, for the period specified below-
(a) if the industry is set up in such areas as the Board may, by notification in the official Gazette, specify to be
“Special Economic Zone”, for a period of twelve years beginning with the month of commencement of its
commercial service;
(b) if the industry is set up in such areas as the Board may, by notification in the official Gazette, specify to be
“Least Developed Areas”, for a period of nine years beginning with the month of commencement of its
commercial service;
(c) in the industry is set up in such areas as the Board may, by notification in the official Gazette, specify to be
“Less Developed Areas”, for a period of 304[ seven years] beginning with the month or commencement of its
commercial service; and
(d) if the industry is set up in the city of Dhaka, Chittagong or Khulna or the municipality of Rajshahi, or
within fifteen miles from the outer limits thereof, for a period of 305[ five years] beginning with the month of
commencement of its commercial service.
(2B) The exemption under sub-section (2A) shall apply to a tourist industry (hereinafter referred to as the
“said industry”), which fulfils the following conditions, namely:-
(a) that the said industry is owned and managed by a Bangladeshi company having a subscribed and paid up
capital of not less than one lakh taka on the date of commencement of its commercial service;
(b) that the said industry shall have such service facilities as the Board may, by notification in the official
Gazette, specify in this behalf;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 42
(cc) that a part of the income exempted under sub-section (2A) is invested, 308[ during the period, or within
one year from the end of the period], to which the exemption under that sub-section relates, in the said
undertaking or in any new industrial undertaking or in any productive assets being stocks and shares of a
public company or bonds or securities issued by the Government and such investment is not less than
309[twenty five per cent] of such income, failing which the income so exempted shall, notwithstanding the
provisions of this Ordinance, be subject to tax in the assessment year for which the exemption was allowed
310[ :
Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend,
if any, declared by the company enjoying tax exemption under this section;]]
(d) that an application in the prescribed form for approval for the purposes of this section as verified in the
prescribed manner, is made to the Board within 311[ one hundred and eighty days] of the date of
commencement of commercial service;
(e) that the said industry is approved and, during the relevant income year, stands approved by the Board for
the purposes of this section.]
312[ (2C) The Board shall give its decision on an application made under clause (d) of sub-section (2B)
within 313[ three months] from the date of receipt of the application by the Board, failing which the industry
shall be deemed to have been approved by the Board for the purposes of this section.]
(3) The profits and gains of the said industry to which this section applies shall be computed in accordance
with the provisions of sections 28 and 29:
Provided that in respect of depreciation, only the allowance for normal depreciation specified in paragraph 3
of the Third Schedule shall be allowed.
(4) The profits and gains of the said industry shall be computed separately from other income, profits and
gains of the assessee, if any, and where the assessee sustains a loss from such industry, it shall be carried
forward and set off against the profits and gains of the said industry for the following year and where it cannot
be wholly set off, the amount of the loss not so set off, shall be carried forward for the next year and so on, but
no loss shall be carried forward beyond the period of exemption allowed under this section.
(5) Nothing contained in this section shall be so construed as to exempt the following:-
(a) any dividend paid, credited or distributed or deemed to have been paid, credited or distributed by a
company to its shareholders out of the profits and gains exempt from tax under this section; and
(b) any income of the said industry classifiable as “Capital gains” chargeable under the provisions of section
31.
(6) Where any exemption has been allowed under this section and it is subsequently discovered by the Deputy
Commissioner of Taxes that any one or more of the conditions specified in this section were not fulfilled, the
exemption originally allowed shall be deemed to have been wrongly allowed and the Deputy Commissioner of
Taxes may, notwithstanding anything contained in this Ordinance, re-compute the total income of, and the tax
payable by, the assessee for the relevant income year, and the provisions of section 93 or 94 shall, so far as
may be, apply thereto, the period of two years specified in section 94 being reckoned from the end of the
assessment year relevant to the income year in which the infringement was discovered.
(7) A tourist industry approved under this section may, not later than six months from the date of approval,
apply in writing to the Board for the cancellation of such approval, and the Board may pass such orders
thereon as it may deem fit.
314[ (8) Notwithstanding anything contained in this section, the Board may, in the public interest, cancel or
suspend fully or partially the exemption allowed under this section.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 43
Exemption from tax of newly established industrial undertakings, etc in certain cases (Section-46A)
315[ 46A. (1) Subject to the provisions of this Ordinance, 316[ profits and gains under section 28 from] an
industrial undertaking, tourist industry or physical infrastructure facility (hereinafter referred to as the said
undertaking) set-up in Bangladesh between the first day of July, 1995and the thirtieth day of 317[ June, 2008]
(both days inclusive) shall be exempt from the tax payable under this Ordinance for the period specified
below-
(a) if the said undertaking is set-up in 318[ Dhaka and Chittagong divisions], excluding the hill districts of
Rangamati, Bandarban and Khagrachari, for a period of 319[ four] years beginning with the month of
commencement of commercial production or operation of the said undertaking;
(b) if the said undertaking is set-up in 320[ Rajshahi, Khulna, Sylhet and Barisal divisions] and the hill
districts of Rangamati, Bandarban and Khagrachari, for a period of 321[ six] years beginning with the month
of commencement of commercial production or operation of the said undertaking.
323[ (1A) industrial undertaking, tourist industry, or physical infrastructure facility does not include
expansion of an existing undertaking for the purpose of this section,-
(i) “industrial undertaking” means an industry engaged in the production of textile, textile machinery, high
value garments, pharmaceuticals, melamine, plastic products, ceramics, sanitary ware, steel from iron ore,
fertilizer, insecticide & pesticide, computer hardware, petro-chemicals, basic raw materials of drugs,
chemicals, pharmaceuticals, agricultural machine, ship building, boilers, compressors and any other category
of industrial undertaking as the Government may by notification in the official Gazette specify.
Explanation.- ‘high value garments' mean overcoats, jackets and suits.
(ii) “physical infrastructure facility” means sea or river port, container terminals, internal container depot,
container freight station, LNG terminal and transmission line, CNG terminal and transmission line, gas pipe
line, flyover, large water treatment plant & supply through pipe line, waste treatment plant, 324[ solar energy
plant,] export processing zone and any other category of physical infrastructure facility as the Government
may by notification in the official Gazette specify;
(iii) “tourist industry” means residential hotel having facility of three star or more and any other category of
tourist industry facility as the Government may by notification in the official Gazette specify.]
(2) The exemption under sub-section (1) shall apply to the said undertaking if it fulfils the following
conditions, namely:-
(a) that the said undertaking is owned and managed by-
(i) a body corporate established by or under an Act of Parliament with its head office in Bangladesh; or

(ii) a company as defined in the Companies Act, 1913 (VII of 1913) or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪
সননর ১৮ নং আইন) with its registered office in Bangladesh and having a subscribed and paid up capital of
not less than one lakh taka on the date of commencement of commercial production or operation;

326[ (c) that thirty per cent of the income exempted under sub-section (1) is invested in the said undertaking
or in any new industrial undertakings during the period of exemption or within one year from the end of the
period to which the exemption under that sub-section relates and in addition to that another ten per cent of the
income exempted under sub-section (1) is invested in each year before the expiry of three months from the
end of the income year in the purchase of shares of a company listed with any stock exchange, failing which
the income so exempted shall, notwithstanding the provisions of this Ordinance, be subject to tax in the
assessment year for which the exemption was allowed:
Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend,
if any, declared by the company enjoying tax exemption under this section 327[ :
Provided further that, the provision for purchase of shares of a company listed with any stock exchange
referred to in this clause shall not be applicable to ready made garments industry, if it re-invested forty percent
of the income exempted under sub-section (1) in the said undertaking or in any new industrial undertaking
during the period of exemption or within one year from the end of the period to which the exemption under
that sub-section relates.]
(d) that the said undertaking is not formed by splitting up or by reconstruction or reconstitution of business
already in existence or by transfer to a new business of any machinery or plant used in business which was
being carried on in Bangladesh at any time before the commencement of the new business;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 44
(e) that the said undertaking is approved, and during the relevant income year, stands approved by the Board
for the purposes of this section;
(f) that the application in the prescribed form for approval for the purposes of this section, as verified in the
prescribed manner, is made to the Board 328[ within six months from the end of the month] of
commencement of commercial production or operation.
329[ (2A) Notwithstanding anything contained in this section-
(a) where a said undertaking enjoying exemption of tax under this section is engaged in any commercial
transaction with another undertaking or company having one or more common sponsor directors, and
(b) during the course of making an assessment of the said undertaking if the Deputy Commissioner of Taxes is
satisfied that the said undertaking has purchased or sold goods at higher or lower price in comparison to the
market price with intent to reduce the income of another undertaking or company,
the exemption of tax of that said undertaking shall be deemed to have been withdrawn for that assessment year
in which such transaction is made.]
(3) The Board shall give its decision on an application made under clause (f) of sub-section (2) within 330[
forty-five days] from the date of receipt of the application by the Board, failing which the undertaking shall be
deemed to have been approved by the Board for the purposes of this section 331[ : Provided that the Board
shall not reject any application made under this section unless the applicant is given a reasonable opportunity
of being heard.]
(4) The Board may, on an application of any person aggrieved by any decision or order passed under sub-
section (3), if the application is made within four months of the receipt of such decision or order, review the
previous decision or order and pass such order in relation thereto as it thinks fit.
(5) The profits and gains of the undertaking to which this section applies shall be computed in the same
manner as is applicable to income chargeable under the head “Income from business or profession”:
332[ Provided that in respect of depreciation, only the allowances for normal depreciation specified in
paragraph 3 of the Third Schedule shall be allowed.]
(6) The profits and gains of the said undertaking shall be computed separately from other income, profits and
gains of the assessee, if any, and where the assessee sustains a loss from such undertaking it shall be carried
forward and set off against the profits and gains of the said undertaking for the following year and where it
cannot be wholly set off, the amount of the loss not so set off, shall be carried forward for the next year and so
on, but no loss shall be carried forward beyond the period specified by the Board in the order issued under
sub-section (3) or (4).
(7) Unless otherwise specified by the Government, nothing contained in this section shall be so construed as
to exempt the following from tax chargeable under this section:-
(a) any dividend paid, credited or distributed or deemed to have been paid, credited or distributed by a
company to its share-holders out of the profits and gains; and
(b) any income of the said undertaking classifiable as “Capital gains” chargeable under the provisions of
section 31 333[ ; and
(c) any income of the said undertaking resulting from disallowance made under section 30 334[ .
(8) Where any exemption is allowed under this section and in the course of making assessment, the Deputy
Commissioner of Taxes is satisfied that any one or more of the conditions specified in this section are not
fulfilled, the exemption will stand withdrawn for the relevant assessment year and the Deputy Commissioner
of Taxes shall determine the tax payable for such year.
(9) Any such undertaking approved under this section may, not latter than one year from the date of approval,
apply in writing to the Board for the cancellation of such approval, and the Board may pass such orders
thereon as it may deem fit.
(10) Notwithstanding anything contained in this section, the Board may, in the public interest, cancel or
suspend fully or partially any exemption allowed under this section.
(11) The Board may make rules regulating the procedure for the grant of approval under sub-section (3),
review under sub-section (4) and furnishing of information regarding payment of other taxes by the said
undertaking and any other matters connected with or incidental to operation of this section.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 45
Exemption from tax of newly established industrial undertakings set up between the period of July, 2011
and 335[ June, 336[ 2019]],etc, in certain cases (Section-46B)
337[ 46B.(1) Subject to the provisions of this Ordinance, income, profits and gains under section 28 from an
industrial undertaking (hereinafter referred to as the said undertaking) set-up in Bangladesh between the first
day of July, 2011 and 338[ the thirtieth day of June, 339[ 2019]] (both days inclusive) shall be exempted from
the tax payable under this Ordinance for the
period, and at the rate, specified below:
if the said undertaking is set-up in-
340[ (i) 341[ Dhaka, Mymensingh and] Chittagong divisions, excluding Dhaka, Narayanganj, Gazipur,
Chittagong, Rangamati, Bandarban and Khagrachari districts, for a period of five years beginning with the
month of commencement of commercial production of the said undertaking:
Period of Exemption Rate of Exemption

For the first and second year 100% of income

For the third year 60% of income
For the fourth year 40% of income
For the fifth year 20% of income
342[ (ii) Rajshahi, Khulna, Sylhet, Barisal and Rangpur divisions (excluding City Corporation area) and
Rangamati, Bandarban and Khagrachari districts, for a period of ten years beginning with the month of
commencement of commercial production of the said undertaking:
Period of Exemption Rate of Exemption
For the first and second year 100% of income
For the third year 70% of income
For the fourth year 55% of income
For the fifth year 40% of income
For the Sixth year 25% of income
For the Seven year 20% of income
Provided that any industry engaged in the production of item as referred to in clause (e) or clause (I) of sub
section (2) shall be entitled to exemption from tax under the provision of this section even if it is set up in the
districts of Dhaka, Gazipur, Narayanganj or Chittagonj."]]
(2) For the purpose of this section,-
industrial undertaking means an industry engaged in the production of-
(a) active pharmaceuticals ingredient industry and radio pharmaceuticals industry;
343[ (aa) automobile manufacturing industry;]
(b) barrier contraceptive and rubber latex;
(c) basic chemicals or dyes and chemicals;
(d) basic ingredients of electronic industry (e.g. resistance, capacitor, transistor, integrator circuit);
344[ (dd) bi-cycle manufacturing industry;]
(e) bio-fertilizer;
(f) biotechnology;
(g) boilers;
345[ (gg) brick made of automatic Hybrid Hoffmann Kiln 346[ or Tunnel Kiln] technology;]
(h) compressors;
(i) computer hardware;
(j) energy efficient appliances;
(k) insecticide or pesticide;
(l) petro-chemicals;
(m) pharmaceuticals;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 46
(n) processing of locally produced fruits and vegetables;
(o) radio-active (diffusion) application industry (e.g. developing quality or decaying polymer or preservation of food
or disinfecting medicinal equipment);
(p) textile machinery;
(q) tissue grafting; 347[ ***
(qq) tyre manufacturing industry; or]
(r) any other category of industrial undertaking as the Government may, by notification in the official Gazette,
specify.
(3) Notwithstanding anything contained in sub-section (2), for the purpose of this section industrial undertaking shall
not include expansion of such an existing undertaking.
(4) The exemption under sub-section (1) shall apply to the said undertaking if it fulfils the following conditions,
namely:-
(a) that the said undertaking is owned and managed by-

(i) a body corporate established by or under any law for the time being in force with its head office in Bangladesh; or
(ii) a company as defined in ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)with its registered office in
Bangladesh and having a subscribed and paid up
capital of not less than two million taka on the date of commencement of commercial production;

(b) that thirty percent of the exempted income under subsection (1) is invested in the said undertaking or in any new
industrial undertaking during the period of exemption or within one year from the end of the period to which the
exemption under that sub-section relates and in addition to that, another ten percent of the exempted income under
sub-section (1) is invested in each year before the expiry of three months from the end of the income year in the
purchase of shares of a company listed with any stock exchange, failing which the income so exempted shall,
notwithstanding the provisions of this Ordinance, be subject to tax in the

assessment year for which the exemption was allowed:

Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend, if any,
declared by the company enjoying tax exemption under this section;
(c) that the said undertaking is not formed by splitting up or by reconstruction or reconstitution of business already in
existence or by transfer to a new business of any machinery or plant used in business which was being carried on in
Bangladesh at any time before the
commencement of the new business;
(d) that the said undertaking is approved, and during the relevant income year, stands approved by the Board for the
purposes of this section;
(e) that application in the prescribed form for approval for the purposes of this section, as verified in the prescribed
manner, is made to the Board within six months from the end of the month of commencement of commercial
production;
(f) that the said undertaking obtained a clearance certificate for the relevant income year from the Directorate of
Environment;
(g) that the said undertaking maintains books of accounts on a regular basis and submits return of its income as per
provisions laid down in section 75 of this Ordinance.]
(5) Notwithstanding anything contained in this section, where an undertaking enjoying exemption of tax under this
section is engaged in any commercial transaction with another undertaking or company having one or more common
sponsor directors, and during the course of making an assessment of the said undertaking if the Deputy
Commissioner of Taxes is satisfied that the said undertaking has purchased or sold goods at higher or lower price in
comparison to the market price with intent to reduce the income of another undertaking or company, the exemption
of tax of that undertaking shall be deemed to have been withdrawn for that assessment year in which such
transaction is made.
(6) The Board shall give its decision on an application made under clause (e) of sub-section (4) within forty five
days from the date of receipt of the application by the Board, failing which the undertaking shall be deemed to have
been approved by the Board for the purposes of this section:
Provided that the Board shall not reject any application made under this section unless the applicant is given a
reasonable opportunity of being heard.
(7) The Board may, on an application of any person aggrieved by any decision or order passed under sub-section (6),
if the application is made within four months of the receipt of such decision or order, review the previous decision,
order or orders and pass such order in relation thereto as it thinks fit.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 47
 (8) The income, profits and gains of the undertaking to which this section applies shall be computed in the same
manner as is applicable to income chargeable under the head ''Income from business or profession'':
Provided that in respect of depreciation, only the allowances for normal depreciation specified in paragraph 3 of the
Third Schedule shall be allowed.

(9) The income, profits and gains of the undertaking to which this section applies shall be computed separately from
other income, profits and gains of the assessee, if any, and where the assessee sustains a loss from such undertaking it
shall be carried forward and set off against the profits and gains of the said undertaking for the next year and where it
cannot be wholly set off, the amount of the loss not so set off, shall be carried forward for the following year and so
on, but no loss shall be carried forward beyond the period specified by the Board in the order issued under sub-
section (6) or (7).

(10) Unless otherwise specified by the Government, nothing contained in this section shall be so construed as to
exempt the following from tax chargeable under this section:-
(a) any dividend paid, credited or distributed or deemed to have been paid, credited or distributed by a company to
its share-holders out of the profits and gains;
(b) any income of the said undertaking classifiable as ''Capital gains'' chargeable under the provisions of section 31;

(c) any income of the said undertaking resulting from disallowance made under section 30.
(11) Where any exemption is allowed under this section and in the course of making assessment, the Deputy
Commissioner of Taxes is satisfied that any one or more of the conditions specified in this section are not fulfilled
348[ or any individual not being a Bangladeshi citizen is employed or allowed to work without prior approval of the
Board of Investment or any competent authority of the Government, as the case may be, for this purpose], the
exemption shall stand withdrawn for the relevant assessment year and the Deputy Commissioner of Taxes shall
determine the tax payable for such year.
(12) Any such undertaking approved under this section may, not later than one year from the date of approval, apply
in writing to the Board for the cancellation of such approval, and the Board may pass such order or orders thereon as
it may deem fit.
(13) Notwithstanding anything contained in this section, the Board may, in the public interest, cancel or suspend
fully or partially any exemption allowed under this section.
(14) The Board may make rules regulating the procedure for the grant of approval under sub-section (6), review
under sub-section (7), furnish information regarding payment of other taxes by the said undertaking, and take such
other measures connected therewith or incidental to the operation of this section as it may deem fit.]

Exemption from tax of newly established physical infrastructure facility set up between the period of July,
2011 and 349[ June, 350[ 2019]], etc, in certain cases (Section-46C)
351[ 46C. 352[ (1) Subject to the provisions of this Ordinance, income, profits and gains under section 28 from physical
infrastructure facility, hereinafter referred to as the said facility, set up in Bangladesh between the first day of July, 2011
and the thirtieth day of June, 353[ 2019] (both days inclusive) shall be exempted from the tax payable under this Ordinance
for ten years beginning with the month of commencement of commercial operation, and at the rate, specified below:

Period of Exemption Rate of Exemption

For the first and second year 100% of income
For the third year 80% of income
For the fourth year 70% of income
For the fifth year 60% of income
For the Sixth year 50% of income
For the Seventh year 40% of income
For the Eighth year 30% of income
For the Ninth year 20% of income

For the Tenth year 10% of income

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 48
2) For the purpose of this section, "physical infrastructure facility"
means,-
(a) deep sea port;
(b) elevated expressway;
(c) export processing zone;
(d) flyover;
(e) gas pipe line,
(f) Hi-tech park;
(g) Information and Communication Technology (ICT) village or software technology zone;
(h) Information Technology (IT) park;
(i) large water treatment plant and supply through pipe line;
(j) Liquefied Natural Gas (LNG) terminal and transmission line;
(k) mono-rail;
(l) rapid transit;
(m) renewable energy (e.g energy saving bulb, solar energy plant, windmill);
(n) sea or river port;
(o) 354[ toll road or bridge];
(p) underground rail;
(q) waste treatment plant; or
(r) any other category of physical infrastructure facility as the Government may, by notification in the official
Gazette, specify.

(3) The exemption under sub-section (1) shall apply to the said facility if it fulfils the following conditions, namely:-

(a) that the said facility is owned and managed by-

(i) a body corporate established by or under any law for the time being in force with its head office in Bangladesh; or
(ii) a company as defined in ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন) with its registered office in
Bangladesh and having a subscribed and paid up capital of not less than two million taka on the date of
commencement of commercial operation;

(b) that thirty percent of the exempted income under subsection (1) is invested in the said facility or in any new
physical infrastructure facility during the period of exemption or within one year from the end of the period to which
the exemption under that sub-section relates and in addition to that, another ten percent of the exempted income
under sub-section (1) is invested in each year before the expiry of three months from the end of the income year in
the purchase of shares of a company listed with any stock exchange, failing which the income so exempted shall,
notwithstanding the provisions of this Ordinance, be subject to tax in the assessment year for which the exemption
was allowed:

Provided that the quantum of investment referred to in this clause shall be reduced by the amount of dividend, if any,
declared by the company enjoying tax exemption under this section:
(c) that the said facility is approved, and during the relevant income year, stands approved by the Board for the
purposes of this section;
(d) that application in the prescribed form for approval for the purposes of this section, as verified in the prescribed
manner, is made to the Board within six months from the end of the month of commencement of commercial
operation;
(e) that the said facility maintains books of accounts on a regular basis and submits return of its income as per
provisions of section 75 of this Ordinance.
(4) The Board shall give its decision on an application made under clause (d) of sub-section (3) within forty five days
from the date of receipt of the application by the Board, failing which the facility shall be deemed to have been
approved by the Board for the purposes of this section:
Provided that the Board shall not reject any application made under this section unless the applicant is given a
reasonable opportunity of being heard.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 49
(5) The Board may, on an application of any person aggrieved by any decision or order passed under sub-section (4),
if the application is made within four months of the receipt of such decision or order, review the previous decision,
order or orders and
pass such order in relation thereto as it thinks fit.

(6) The income, profits and gains of the facility to which this section applies shall be computed in the same manner
as is applicable to income chargeable under the head "Income from business or profession":
Provided that in respect of depreciation, only the allowances for normal depreciation specified in paragraph 3 of the
Third Schedule shall be allowed.
(7) The income, profits and gains of the facility to which this section applies shall be computed separately from other
income, profits and gains of the assessee, if any, and where the assessee sustains a loss from such facility it shall be
carried forward and set off against the profits and gains of the said facility for the next year and where it cannot be
wholly set off, the amount of the loss not so set off, shall be carried forward for the following year and so on, but no
loss shall be carried forward beyond the period specified by the Board in the order issued under sub-section (4) or (5).
(8) Unless otherwise specified by the Government, nothing contained in this section shall be so construed as to
exempt the following from tax chargeable under this section :-
(a) any dividend paid, credited or distributed or deemed to have been paid, credited or distributed by a company to its
share-holders out of the profits and gains;
(b) any income of the said facility classifiable as "Capital gains" chargeable under the provisions of section 31;

(c) any income of the said facility resulting from disallowance made under section 30.
(9) Where any exemption is allowed under this section and in the course of making assessment, the Deputy
Commissioner of Taxes is satisfied that any one or more of the conditions specified in this section are not fulfilled
355[ or any individual not being a Bangladeshi citizen is employed or allowed to work without prior approval of the
Board of Investment or any competent authority of the Government, as the case may be, for this purpose], the
exemption shall stand withdrawn for the relevant assessment year and the Deputy Commissioner of Taxes shall
determine the tax payable for such year.
(10) Any such facility approved under this section may, not later than one year from the date of approval, apply in
writing to the Board for the cancellation of such approval, and the Board may pass such order or orders thereon as it
may deem fit.
(11) Notwithstanding anything contained in this section, the Board may, in the public interest, cancel or suspend
fully or partially any exemption allowed under this section.
(12) The Board may make rules regulating the procedure for the grant of approval under sub-section (4), review
under sub-section (5), furnish information regarding payment of other taxes by the said facility, and take such other
measures connected therewith or incidental to the operation of this section as it may deem fit.]

Exemption of income of co-operative societies (Section-47)

47. (1) The tax shall not be payable by a co-operative society 356[ ***] in respect of-
(b) the entire income from business carried on by it, if it is engaged in the following:-
(i) agricultural or rural credit;
(ii) cottage industry;
(iii) marketing of agricultural produce of its members;
(iv) purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of
supplying them to its members; or
(v) such processing, not being the performance of any manufacturing operation with the aid of power, of the
agricultural produce of its members as is ordinarily employed by a cultivator to render marketable the agricultural
produce raised by him;
(d) any income derived from the letting of godowns or warehouses for the purpose of storage, processing or
facilitating the marketing of commodities belonging or meant for sale to its members.
Explanation.-For the purpose of this section,-
(a) “cottage industry” means an enterprise, not being owned by a joint stock company which fulfils the following
conditions, namely:-
(i) it is basically an enterprise in which the owner is the investor, a full-time worker and the actual entrepreneur;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 50
(ii) the capital invested in plant, machinery and equipment does not exceed 359[ three lakh taka] at any time during
the income year;
(iii) the number of workers, including the owner and the members of his family, shall not on any one twenty-four
hour day during the income year, exceed 360[ fifteen]; and
(iv) the owner of the enterprise or any member of his family does not own any other industrial or commercial
enterprise either in his own name or in the name of any other person; and
(b) “member of his family”, in relation to the owner of an enterprise, means the parents, spouse and children
dependent on the owner and employed in the enterprise, whether working full-time or part-time, or whether for or
without any wages, remuneration or compensation in any form.
(2) Nothing contained in sub-section (1) shall apply to a co-operative society carrying on such business of insurance
as is carried on by a mutual insurance association in respect of its profits and gains to which paragraph 8 of the
Fourth Schedule applies.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 51
 CHAPTER VII
PAYMENT OF TAX BEFORE ASSESSMENT

Deduction at source and advance payment of tax (Section-48)

48. (1) Notwithstanding that regular assessment in respect of any income is to be made later in any assessment
year, and without prejudice to the charge and recovery of tax under this Ordinance after such assessment, the
tax on income shall be payable by deduction or collection at source, or by way of advance payment, in
accordance with the provisions of this Chapter.
(2) Any sum deducted or collected, or paid by way of advance payment, in accordance with the provisions of
this Chapter, shall, for the purpose of computing the income of an assessee, be deemed to be the income
received, and be treated as payment of tax in due time, by the assessee.

Income subject to deduction at source (Section-49)

49. (1) Tax payable under this Ordinance shall be deducted or collected at source in respect of the following
income, namely:-
(a) income classifiable under the head “Salaries”;
361[ (aa) income from discount on the real value of Bangladesh Bank bills;]
(b) income classifiable under the head “Interest on securities”;
(c) income derived on account of supply of goods, execution of contracts or services rendered;
363[ (d) income derived by the importers on account of import of goods;]
(e) income derived on account of indenting commission;
(f) income derived on account of winnings from lottery or crossword puzzles, as referred to in section 19(13);
364[ * * *]
(g) any income chargeable under this Ordinance which is paid or payable to a non-resident 365[ ;
(h) Income classifiable under the head “Income from house property”;
(i) income derived on account of export of manpower;
366[ (ii) income derived on account of travel agency commission or incentive bonus;]
(j) income derived on account of purchase by public auction;
(k) income derived on account of acting in films;
(m) income derived on account of shipping agency commission 369[ ; 370[ * * *]
371[ (n) income derived from commission, discount or fees payable to distributors for distribution or
marketing of manufactured goods] 372[ ;
(o) income derived on account of interest on saving deposits, fixed deposits or term deposits and share of
profit on term deposits;
373[ (oo). income dierived on account of payment from workers’ participation fund.]
(p) income derived on account of insurance commission;
(q) income classifiable under the head “Capital gains”;]
374[ (r) income derived on account of fees for professional or technical services;
(s) income derived on account of manufacture of cigarettes manually without any mechanical aid whatsoever;
(t) income derived from compensation against acquisition of property;
(w) income derived on account of running of brick field;
(x) income derived on account of services rendered by the doctors;
(z) income derived on account of commission of letter of credit;]
378[ (za) income derived on account of survey by a surveyor of general insurance company;
(zc) income derived on account of commission, remuneration or charges as a foreign buyer's agent 380[ ;
(zd) income from dividends 381[ ;
(ze) income derived on account of rendering certain services 382[ ;
383[ (zf) income derived on account of shipping business carried on both inside and outside Bangladesh by a
resident assessee.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 52
(zg) income derived on account of business of real estate and land developer;
(zh) income derived by an exporter on account of export of 384[ any commodity];
(zi) income derived by a member of a stock exchange on account of transaction of shares, debentures, mutual
funds, bonds or securities 385[ ;
(zj) income derived on account of courier business of a non-resident;
387[ (zkk) income derived on account of export cash subsidy;]
389[ (zm) on account of 390[ ***] renewal of trade licence;
(zo) income derived on account of freight forward agency commission 392[ ;
(zp) income derived on account of rental power;
(zq) income derived on account of interest of Post Office Savings Bank Account;
(zr) income derived on account of rental value of vacant land or plant or machinery;
(zs) income derived on account of advertisement 393[ ;
(zt) income derived by foreign technician serving in a diamond cutting industry 394[ ;
(zv) income derived from transfer of securities or mutual fund units by sponsor shareholders of a company etc
396[ ;
(zw) deduction of tax for services from convention hall, conference centre, room or, as the case may be, hall
etc.;
(zx) deduction of tax from residents for any income in connection
with any service provided to any foreign person 397[ ;
(zy) income derived on account of international gateway service in respect of phone call 398[ ;
(zz) collection of tax from manufacturer of soft drink 399[ ;
(zza) income derived from insurance policy;
(zzb) deduction of tax from local letter of credit (L/C);
(zzc) income derived from any fees, revenue sharing, etc. from cellular mobile phone operator;
(zzd) income from transfer of share of any stock exchange;
(zze) income from transfer of share of company listed in any stock exchange;
(zzf) income derived from lease of property 400[ ;
(zzff) deduction of tax from any sum paid by real estate developer to land owner.]

(2) Tax to be deducted at source under sub-section (1) in respect of any income shall be deducted in
accordance with the provisions of this Chapter by the person responsible for making payment which
constitutes the income of the payee.
(3) For the purpose of this Chapter, “person responsible for making payment”, with its grammatical variations
and cognate expressions, means-
(a) in the case of payments constituting income classifiable under head “Salaries”, 401[ ***] the employer
himself or, if the employer is a local authority, company or institution, such authority, company or institution,
including the principal officer thereof;
(b) in the case of payments constituting income classifiable under the head “Interest on securities”, not being
payment made by or on behalf of the Government, the authority, company or other institution issuing the
security or the principal officer thereof; and
(c) in the case of payment of any other sum which constitutes an income of the payee chargeable to tax under
this Ordinance, the payer himself, or if the payer is a company or other institution, such company or institution
including the principal officer thereof.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 53
 Deduction at source from salaries (Section-50)
50. (1) The person responsible for making any payment which constitutes income of the payee classifiable
under the head “Salaries” shall, at the time of making such payment, deduct tax on the amount so payable at a
rate representing the average of the rates applicable to the estimated total income of the payee under that head.
402[ (1A) Notwithstanding the provision of sub section (1), where any Government official is acting as
Drawing and Disbursing Officer (DDO) or making or signing a bill for himself or for any other official
subordinate to him to draw salary from the Government or any authority, as the case may be, he shall, at the
time of making or signing such bill, deduct tax at a rate representing the average of the rates applicable to the
estimated total income of such officials if such annual salary chargeable to tax exceeds the taxable limit for
that income year.; এবং
(1B) For the purposes of sub-section (1A), respective Government Accounts Office shall issue a tax deduction
certificate in prescribed form within the thirty first day of July following the financial year. ]
(2) At the time of making any deduction under 403[ sub-sections (1) and (1A) ], the amount to be deducted
may be increased or decreased for the purpose of adjusting any excess or deficiency arising out of any
previous deductions or failure to make deductions.
404[ (2A) The payment under 405[ sub-section (1) and (1A)] shall be made by such person with or without
deduction of tax in accordance with a certificate, issued by the Deputy Commissioner of Taxes after being
satisfied on an application made by the payee in this behalf, where such certificate specifies that-
(a) no tax shall be deducted from the payee in a case where the tax payable on the total income of the payee
has already been deducted or collected from such payee under this Ordinance for the rest of the income year;
or
(b) tax shall be deducted at a lesser rate for the rest of the income year in a case where the payee may, after
adjusting the tax already deducted or collected from such payee under this Ordinance, be liable to pay a lesser
sum of tax than the tax chargeable on his total income.]
(3) For the purposes of deduction under 406[ sub-section (1) and (1A)] in respect of salary payable in a
foreign currency, the value in taka of such salary shall be calculated at such rate as the Board may prescribe.

Deduction at source from discount on the real value of Bangladesh Bank bills (Section-50A)
407[ 50A. Any person responsible for paying any amount on account of discount on the real value of
Bangladesh Bank bills shall, at the time of making such payment, deduct tax at the maximum rate on the
amount so payable or the rate applicable to such amount, whichever is greater408[ :
Provided that no tax shall be deducted under this section where the said bill is purchased by an approved
superannuation fund or pension fund or gratuity fund or a recognised provident fund, or a workers' profit
participation fund.]]

Deduction of tax from payment of remuneration to Members of Parliament (Section-50B)

409[ 50B. Any person responsible for making any payment as remuneration to a Member of Parliament shall,
at the time of making such payment, deduct tax on the amount so payable at a rate representing the average of
the rates applicable to the estimated total remuneration of the payee for that income year.]

Deduction at source from interest or profit on securities (Section-51)

51. 410[ (1) Any person responsible for issuing a security of the government or a security approved by the
Government, income of which is classifiable under the head "Interest on securities", shall collect, unless the
Government otherwise directs, income tax at the rate of five percent (5%) upfront on interest or discount
receivable on maturity on such security.
(2) If the security mentioned in sub-section (1) is a security based on Islamic principles, income tax shall be
deducted or collected at the rate of five percent (5%) on profit or discount at the time of payment or credit,
whichever is earlier.
(3) Income tax shall not be collected or deducted at source if the security mentioned in sub-section (1) is a
Treasury bond or Treasury bill issued by the Government.”]
51A. [Deduction at source from interest on fixed deposits- Omitted by section 2 of the Income tax
(Amendment) Ordinance, 1985 (Ordinance No. XXXVI of 1985).]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 54
 Deduction from payment to contractors, etc(Section-52)
52. 412[ (1) Where any payment is to be made by a specified person to a resident on account of-
(a) execution of a contract, other than a contract for providing or
rendering a service mentioned in any other section of Chapter VII;
(b) supply of goods;
(c) manufacture, process or conversion;
(d) printing, packaging or binding;
the person responsible for making the payment shall, at the time of making such payment, deduct tax at such
rate, not exceeding ten percent (10%) of the base amount, as may be prescribed:
413[ Provided that–
(a) the rate of tax shall be fifty percent (50%) higher if the payee does not have the twelve-digit Taxpayer’s
Identification Number at the time of making the payment;
(b) tax shall not be deducted in respect of clause (b) of sub-section (1) in respect of the purchase of direct
materials that constitute cost of sales or cost of goods sold of a trading company or a manufacturing company,
as the case may be;
(c) where any imported goods on which tax has been paid at source under section 53 is supplied, tax at source
on the said supply shall be B-A, where-
A= the amount of tax paid under section 53,
B= the amount of tax applicable under this section if no tax were paid under section 53.]

(2) In this section-

(a) the specified person means-
(i) the Government, or any authority, corporation or body of the Government, including its units, the activities
of which are authorised by any Act, Ordinance, Order or instrument having the force of law in Bangladesh;

(ii) a project, programme or activity where the Government has any financial or operational involvement;
(iii) a joint venture or a consortium;
(iv) a company as defined in clause (20) of section 2 of this Ordinance;
(v) a co-operative bank;
(vi) a co-operative society;
(vii) a financial institution;
(viii) a Non-Government Organisation registered with the NGO Affairs Bureau;
(ix) a school, a college, an institute or a university;
(x) a hospital, a clinic or a diagnostic centre;
(xi) a trust or a fund;
(xii) a firm;
(xiii) a public-private partnership;
(xiv) a foreign contractor, a foreign enterprise or an association or a body established outside Bangladesh; and
(xv) any artificial juridical person not mentioned above;
(b) “contract” includes a sub-contract, any subsequent contract, an agreement or an arrangement, whether
written or not;
(c) “base amount” means the higher of the -
(i) contract value; or
(ii) bill or invoice amount; or
(iii) payment;
(d) “payment” includes a transfer, a credit or an adjustment of payment.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 55
 Deduction from payment of royalties etc(Section-52A)
52A. (1) Where any payment is to be made by a specified person to a resident on account of royalties,
franchise, or the fee for using license, brand name, patent, invention, formula, process, method, design,
pattern, knowhow, copyright, trademark, trade name, literary or musical or artistic composition, survey, study,
forecast, estimate, customer list or any other intangibles, the person responsible for making the payment shall,
at the time of making payment, deduct income tax at the rate specified below-

Description of Rate of deduction of

payment tax

(a) Where base amount

10%
does not exceed taka 25

(b) Where base amount

exceeds taka 25 lakh 12%

Provided that the rate of tax shall be fifty percent (50%) higher if the payee does not have a twelve-digit
Taxpayer’s Identification Number at the time of making the payment.
(2) In this section-
(a) “specified person” shall have the same meaning as in clause (a) of sub section (2) of section 52;
(b) “contract” includes a sub-contract, any subsequent contract, an agreement or an arrangement, whether
written or not;
(c) “base amount” means the higher of the -
(i) contract value; or
(ii) bill or invoice amount; or
(iii) payment;
(d) “payment” includes a transfer, a credit or an adjustment of payment.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 56
 Deduction from the payment of certain services (Section-52AA)
52AA. 414[ (1) Where any payment is to be made by a specified person to a resident on account of a service as mentioned
in this section, the person responsible for making the payment shall, at the time of making such payment, deduct income tax
at the rate specified in the Table below:-

Description of service and Rate of deduction of tax

SL.
payment
No Where base amount does not Where base amount exceeds
exceed Tk. 25 lakh Tk. 25 lakh

1. Advisory or consultancy service 10% 12%

Professional service ,
2. technical services fee, 10% 12%

(i) Catering service;

(ii) Cleaning service;
(iii) Collection and recovery service;
(iv) Private security service;
(v) Manpower supply service;
(vi) Creative media service;
(vii) Public relations service; 10% 12%
3. (viii) Event management service;
(ix) Training, workshop, etc.
organization and
management service;
(x) any other service of
similar nature-
(a) on commission or fee
1.5% 2%

Media buying agency service 0.5% 12%

(a) on commission or free
4.
10% 0.65%
5. Indenting commission 6% 8%

Meeting fees, training fees or

6. 10% 12%
honorarium

Mobile network operator,

technical support service
7. provider or service delivery 10% 12%
agents engaged in mobile

8. Credit rating service 10% 12%

9. Motor garage or workshop 6% 8%
Private container port or
10. 6% 8%

11. Shipping agency commission 6% 8%

Stevedoring/berth operation commission

12. 10% 12%

Transport service, carrying service,

Inserted F.A
13. vehicle rental service or ride sharing 3% 4%
2018

Any other service which is not mentioned in

Chapter VII of this Ordinance and is not a
14. service provided by any bank 10% 12%
insurance or financial institutions

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 57
 Collection of tax from clearing and forwarding agents (Section-52AAA)
415[ 52AAA. The Commissioner of Customs shall make collection on account of commission receivable by
clearing and forwarding agents licensed under Customs Act, 1969 at the rate of 416[ ten percent] on such
commission at the time of clearance of goods imported or exported.]

Collection of tax from Cigarette manufacturers (Section-52B)

52B. 417[ Any person responsible for selling banderols to any manufacturer of cigarettes shall, at the time of
selling banderols, collect tax from such manufacturers on account of the manufacture of cigarette at the rate of
ten percent (10%) of the value of the banderols.
Explanation.- For the purposes of this section, “manufacture of cigarettes” means manufacture of cigarettes
manually without any mechanical aid whatsoever.]

Deduction at source from compensation against acquisition of property (Section-52C)

418[ 52C.- Any person, responsible for paying any amount of compensation against acquisition by the
Government of any immovable property shall, at the time of paying such compensation deduct advance tax at
the rate of,-
(a) two per cent of the amount of such compensation where the immovable property is situated in any city
corporation, paurashava or cantonment board;
(b) one per cent of the amount of such compensation where the immovable property is situated outside any
city corporation, paurashava or cantonment board.]

Deduction at source from interest on saving instruments (Section-52D)

419[ 420[ 52D. Notwithstanding anything contained in any other provision of this Ordinance or any other law
being in force in respect of exemption from tax on interest of savings instrument purchased by an approved
superannuation fund or pension fund or gratuity fund or a recognized provident fund or a workers’ profit
participation fund, any person responsible for making any payment by way of interest on any savings
instruments shall, at the time of such payment, deduct income tax at the rate of five percent (5%) on such
interest:
Provided that no tax shall be deducted under this section where the cumulative investment at the end of the
income year in the pensioners' savings certificate does not exceed five lakh taka:
Provided further that no tax shall be deducted from interest or profit arising from Wage earners development
bond, US dollar premium bond, US dollar investment bond, Euro premium bond, Euro investment bond,
Pound sterling investment bond or Pound sterling premium bond.

Deduction at source from payment to a beneficicary of workers’ participation fund (Section-52DD)

52DD. Notwithstanding anything contained in any other provision of this Ordinance or any other law being in
force in respect of exemption from tax on payments from workers’ participation fund, any person responsible
for making any payment from such fund to a beneficiary shall, at the time of such payment, deduct income tax
at the rate of five percent (5%) on such payment.]
421[ 52E. 422[ Collection of tax on account of bonus- Omitted by section 53 of অথ আইন,
ি ২০০১ (২০০১ সননর
Omitted] ৩০ নং আইন).]
Collection of tax from brick manufacturers (Section-52F)
423[ 52F. Any person responsible for issuing any permission or renewal of permission for the manufacture of
bricks shall, at the time of issuing such permission or renewal of permission, collect tax from such
manufacturer at the time of issuance of such permission or renewal at the following rates:
424[ (a) taka forty five thousand for one section brick field;
(b) taka seventy thousand for one and half section brick field;
(c) taka ninety thousand for two section brick field;
(d) taka one lakh and fifty thousand for brick field producing bricks through automatic machine.]
[Explanation:- For the purpose of this section, the word “section” shall have the same meaning as defined in
কমৌসুমী ইটভোটো মূল্ সংন োেন র মবমিমোলো, ২০০৪.]
425[ 52G. [Deduction from fees for services rendered by doctors.- Omitted by section 25 of অথ আইন,
ি ২০০৪
Omitted] (২০০৪ সননর ১৬ নং আইন)
426[ 52H. [Collection of tax from persons engaged in the real estate business.- Omitted by section 64 of অথ ি
Omitted] আইন, ২০০০ (২০০০ সননর ১৫ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 58
 Deduction from the commission of letter of credit (Section-52I)
52I. Any person responsible for opening letter of credit for the purpose of import of goods for himself or for
any other person shall, at the time of collecting commission with respect to letter of credit, deduct income tax
at the rate of five per cent on the amount of such commission.]
427[ 52J. Collection of tax from travel agent- [Omitted by section 54 of অথ আইন,
ি ২০০১ (২০০১ সননর ৩০ নং
Omitted] আইন).]

Collection of tax from travel agent (Section-52JJ)

428[ 52JJ. Collection of tax from travel agent.- (1) Notwithstanding anything contained in any other provisions
of this Ordinance, any person responsible for making any payment to a resident any sum by way of
commission or discount or any other benefits, called by whatever name, convertible into money for selling
passenger tickets or air cargo carriage shall deduct or collect advance tax at the rate of zero point three zero
percent (0.30%) of the total value of the tickets or any charge for carrying cargo by air at the time of payment
to such resident.
(2) Where any incentive bonus, performance bonus or any other benefits, called by whatever name, is to be
paid in relation to such sale of tickets or bill for carrying cargo by air in addition to the amount mentioned in
sub-section (1), person responsible for making such payment shall deduct an amount equal to (A/B) x C,
where-
“A” is the amount of incentive bonus, performance bonus or any other benefits as mentioned in subsection (2),

“B” is the amount of commission or discount or any other benefits as mentioned in sub-section (1), and
“C” is the amount of source tax on commission or discount or any other benefits as mentioned in subsection
(1).
(3) For the purpose of computation of value of tickets or charge, any payment made in respect of any
embarkation fees, travel tax, flight safety insurance, security tax and airport tax shall not be included in such
value or charge.
Explanation.-In this section, “payment” includes a transfer, a credit or an adjustment of payment.]

Collection of tax by City Corporation or Pourashava at the time of renewal of trade licence (Section-52K)
429[ 52K. Any person responsible for renewal of trade licence shall collect tax at the time of such renewal of
each trade license at the rate of –
(a) taka five hundred in 430[ Dhaka South City Corporation, Dhaka North City Corporation] or Chittagong
City Corporation;
(b) taka three hundred 431[ in any other city corporation];
(c) taka three hundred in any paurashava at any district headquarter;
(d) taka one hundred in any other paurashava.]

Collection of tax from freight forward agency commission (Section-52M)

434[ 52M. Any person responsible for making any payment by way of freight forward agency commission, at
the time of making such payment435[ or credit of such payment to the account of the payee], shall deduct tax
at the rate of 436[ fifteen percent] of the said amount.]

Collection of tax on account of rental power (Section-52N)

437[ 52N. Notwithstanding anything contained in this Ordinance, Bangladesh Power Development Board, at
the time of payment to any rental power company on account of purchase of rental power from that company,
shall collect, deduct or pay tax on the said payment 438[ ***] at the rate of 439[ six per cent] 440[ ***].]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 59
 Collection of tax from a foreign technician serving in a diamond cutting industry (Section-52O)
441[ 52O. The person responsible for making any payment-which constitutes income chargeable under the
head “Salaries” received by or due to any person who is neither a citizen of Bangladesh nor was resident in
Bangladesh in any of the four years immediately preceding the year in which he arrived in Bangladesh, as
remuneration for services rendered by him for a period not exceeding three years from the date of his arrival
in Bangladesh, during such period, as a technician employed in diamond cutting industries under a contract of
service, shall deduct tax at the rate of five percent of such salaries at the time of making payment or giving
credit which ever is earlier:
Provided that the provisions of this clause shall not be applicable to foreign technicians appointed after June
30 2010.]

Deduction of tax for services from convention hall, conference centre, etc (Section-52P)
442[ 52P. Any person, being a corporation, body or authority established by or under any law including any
company or enterprise owned, controlled or managed by it, or a company registered under ক োম্পোনী আইন,
১৯৯৪ (১৯৯৪ সননর ১৮নং আইন), any Non-government Organization registered with N.G.O Affairs Bureau
or any university or medical college or dental college or engineering college which makes any payment to any
person on account of renting or using space of convention hall, conference centre, room or, as the case may
be, hall, hotel, community centre or any restaurant, shall deduct tax at the rate of five percent from the whole
amount paid for the services thereof at the time of making such payment or at the time of credit of such
payment to the account of the payee :

Provided that no deduction shall be made by a company when such amount is paid directly to the government.]

Deduction of tax from resident for any income in connection with any service provided to any foreign
person (Section-52Q)
443[ 52Q. Any person, responsible for paying or crediting to the account of a resident any sum remitted from
abroad by way of service charges or consulting fees or commissions or remunerations or any other fees called
by whatever name for any service rendered or any work done by a resident person in favour of a foreign
Inserted F.A person, shall deduct tax at the rate of ten percent of the amount so paid at the time of making such payment or
2018 credit of such payment to the account of the payee.] “Provided that no deduction under this section shall
be made against the remittance from abroad of the proceeds of sales of software or services of a
resident if the income from such sales is exempted from tax under paragraph 33 of Part A of the Sixth
Schedule.” .

Deduction of tax from receipts in respect of international phone call (Section-52R)

444[ 52R. (1)The bank, through which any sum on account of International Gateway (IGW) Services in
respect of international phone call is received, shall deduct tax at the rate of 445[ one point five percent
(1.5%)] of the total amount representing the said receipt at the time of crediting it to the account of the
International Gateway (IGW) Services operator.
(2) The International Gateway (IGW) Services operator, by which any sum related to international phone call
is paid or credited to the account of Interconnection Exchange (ICX), Access Network Services (ANS) or any
other person under an agreement with the Bangladesh Telecommunication Regulatory Commission (BTRC),
shall deduct tax at the rate of 446[ seven point five percent (7.5%)] on the whole amount so paid or credited at
the time of such payment or credit under the said agreement.

447[ (2A) Where any amount is paid or credited in respect of outgoing international calls, the provider of
Interconnection Exchange (ICX) services or Access Network Services (ANS) shall deduct tax at the rate of
seven point five percent (7.5%) on the whole amount so paid or credited at the time of such payment or credit]
(3) Notwithstanding anything contained in 448[ sub-sections (1), (2) or (2A)], where the Board gives a
certificate in writing on an application made by a person that income of the person is exempted from tax or
will be liable to tax at a rate of tax less than the rate specified in this section, the person responsible for such
payment shall make the payment-
(a) without deduction of tax; or
(b) after deducting tax at a rate specified in the certificate.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 60
 Collection of tax from manufacturer of soft drink 449[ ,etc](Section-52S)
450[ 52S. The Security Printing Corporation (Bangladesh) Limited, or any other person responsible for
delivery of banderols or stamps, shall collect, at the time of delivery of such banderols or stamps to any
Omitted F.A
manufacturer of soft drinks 451[ or mineral or bottled water], tax at the rate of 452[ four per cent (4%)] of
2018
the value of such soft drinks 453[ or mineral or bottled water] as determined for the purpose of the Value
Added Tax (VAT).]

Deduction of tax from any payment in excess of premium paid on life insurance policy (Section-52T)

454[ 52T. Any person responsible for paying to a resident, any sum in excess of premium paid for any life
insurance policy maintained with any life insurance company, shall deduct, at the time of payment of such
excess amount to the policy holder, income tax at the rate of five per cent on such sum:
Provided that no deduction of tax shall be made in case of death of such policy holder.
Deduction from payment on account of local letter of credit (Section-52U)
52U. The bank or financial institution, through which any local letter of credit or any financing agreement,
called by whatever name, is made between two or more persons within the country for purchasing or
Inserted F.A
procuring of any goods and proceeds of such goods are paid, shall deduct tax at the rate of three per cent, on
2018
the total proceeds exceeding five lakh taka, at the time of paying or crediting such proceeds to the account of
the person or persons providing such goods:
“52U. Deduction from payment on account of local letter of credit, etc.- (1) The bank or any other financial
institution extending any credit facility under a local letter of credit or any other financing agreement, not
being a financing arrangement under sub-section (2), for purchasing any goods in Bangladesh by a person
(hereinafter referred to as “Person A”) from any person (hereinafter referred to as “Person B”) for the
purpose of trading, or of reselling after process or conversion shall deduct, at the time of paying or crediting
to Person B, tax at the rate of three percent (3%) of the amount so paid or credited in relation to the
purchase by Person A.
(2) The bank or any other financial institution extending any credit facility to a distributor under a financing
arrangement in which a person (hereinafter referred to as “Person C”) receives payments from such bank or
the financial institution against the invoice or sale of goods to its distributor (hereinafter referred to as
Inserted F.A
“Person D”) shall deduct, at the time of paying or crediting payment to Person C, tax at the rate of one
2018
percent (1%) of the amount so paid or credited in relation to the goods invoiced to Person D.
(3) The provision of this section shall not be applicable in the cases of local letter of credit or any other
financing agreement opened or made for the purchase or procurement of rice, wheat, potato, onion, garlic,
peas, chickpeas, lentils, ginger, turmeric, dried chillies, pulses, maize, coarse flour, flour, salt, edible oil,
sugar, black pepper, cinnamon, cardamom, clove, date, cassia leaf, computer or computer accessories, jute,
cotton, yarn and all kinds of fruits.
(4) Nothing in this section shall limit the applicability of section 52.
Explanation.- For the purpose of this section, “distributor” means a person who performs the function of
supply of finished goods produced by another person to the end customer directly or through any other
intermediary.”
Deduction from payment by cellular mobile phone operator (Section-52V)
The Principal Officer of a cellular mobile phone operator company responsible for making any payment, on
account of any revenue sharing or any license fees or any other fees or charges, called by whatever name, to
the regulatory authority, shall deduct tax at the rate of ten percent of such payment at the time of credit to the
payee or at the time of payment thereof, whichever is earlier.]
Collection of tax from importers 456[***] (Section-53)
53. 457[ (1) 458[ The Commissioner of Customs] shall make collection of tax payable by the importers on
account of import of goods 459[ ***].]
(2) The Board shall, for the purpose of collection of tax under sub-section (1),-
(a) specify the importers 460[ ***] from whom collection, are to be made; and
(b) prescribe the method and rate of calculation of the amount to be collected and the manner of collection.
(3) Any amount collected under sub-section (1) shall be deemed to be an advance payment of tax by the
importer 461[ ***] concerned and shall be given credit for, in the assessment of his tax.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 61
 Deduction at source from income from house property (Section-53A)
462[ 53A. 463[ (1) Where the Government or any authority, corporation or body, including its units, the
activities or the principal activities of which are authorised by any Act, Ordinance, Order or instrument having
the force of law in Bangladesh or 464[ any company as defined in clause (20) of section 2], or any banking
company or any co-operative bank established by or under any law for the time being in force or any non-
Governmental organisation run or supported by any foreign 465[ donation or assistance or any university or
medical college or dental college or engineering college 466[ or any college or school 467[ or hospital or
clinic or diagnostic centre]]] is a tenant in respect of a house property, the tenant shall deduct from the house
rent paid or payable as advance tax 468[ at the rate of five percent].]
469[ Explanation.- For the purpose of this section, “house rent” means any payment, by whatever name called,
under any lease, tenancy or any other agreement or arrangement for the use of any building including any
furniture, fittings and the land appurtenant thereto.]
(2) Where, after the assessment made for that relevant year, it is found the no tax was payable by the owner of
the house property or the amount of tax deducted is in excess of the amount payable, the amount deducted
shall be refunded,-
(a) if no tax was payable, in full, or
(b) if the amount deducted is in excess of the amount payable, to the extent of the excess deduction to the
owner of the house property.
(3) Where the Deputy Commissioner of Taxes, on an application made in this behalf, gives a certificate in the
prescribed form to an owner of house property that, to the best of his belief, the owner is not likely to have
any assessable income during the year or the income is otherwise exempted from payment of income tax under
any provisions of this Ordinance, payment referred to in sub-section (1) shall be made without any deduction
until the certificate is cancelled.

Collection of tax from shipping business of a resident (Section-53AA)

53AA. Commissioner of Customs or any other authority, duly authorised in this behalf, shall not grant port
clearance to a ship owned or chartered by a resident assessee unless 470[ a certificate is received in prescribed
manner from Deputy Commissioner of Taxes concerned and] tax at the rate of 471[ five percent] of total
freight received or receivable in or out of Bangladesh has been paid for carriage of passengers, livestock, mail
or goods, shipped at any port of Bangladesh. 472[ :
Provided that tax shall be collected at the rate of three per cent of total freight received or receivable from
services rendered between two or more foreign countries.]

Deduction of tax from income derived on account of export of manpower (Section-53B)

53B. The Director General, Bureau of Manpower, Employment and Training shall, before giving clearance for
export of any manpower, collect from the exporter concerned as advance tax on income on account of such
export 473[ at such percentage] of the service charge or fees mentioned in clause (n) and clause (r),
respectively, of section 19(2) of the Emigration Ordinance, 1982 (XXIX of 1982), as may be prescribed.
Collection of tax from export of certain items (Section-53BB)
474[ 53BB. The bank through which export proceeds of an exporter of knit wear and woven garments, terry
towel, carton and accessories of garments industry jute goods, frozen food, vegetables, leather goods, packed
food is received, shall deduct tax at the rate of 475[ 476[ one percent (1%)]] of the total export proceeds at the
time of crediting the proceeds to the account of the exporter:

Provided that where the Board, on an application made in this behalf, gives a certificate in writing that the
income of the exporter is partly or fully exempted from tax under any provision of the Ordinance, credit to the
account of assessee shall be made without any deduction of tax or deduction of tax at a rate less than the rate
specified in this section for the period mentioned in that certificate.]

Collection of tax from Member of Stock Exchanges (Section-53BBB)

477[ 53BBB. The Chief Executive Officer of a stock exchange shall collect tax at the rate of 478[ 479[ zero
point one zero percent (0.10%)]] on the value of shares, debentures, mutual funds 480[ ***] or securities
transacted by a member of a stock exchange at the time of payment for such transaction.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 62
 Collection of tax from export of any goods except certain items (Section-53BBBB)
481[ 53BBBB. Collection of tax from export of any goods except certain items.-The bank, through which
export proceeds of an exporter of any goods except knit wear, woven garments, terry towel, carton and
accessories of Garments industry jute goods, frozen food, vegetables, leather goods and packed food is
received, shall deduct tax at the rate of 482[ 483[ one percent (1%)]] of the total export proceeds at the time of
crediting the proceeds to the account of the exporter, which shall be deemed to be an advance payment of tax
by the exporter and shall be given credit for the assessment of his tax :

Provided that where the Board, on an application made in this behalf gives a certificate in writing that the
income of the exporter is partly or fully exempted from tax under any provision of the Ordinance, credit to the
account of the assessee shall be made without any deduction of tax or deduction of tax at a rate less than the
rate specified in this section for the period mentioned in that certificate.]

Collection of tax on sale price of goods or property sold by public auction (Section-53C)
53C. Any person making sale, by 484[ public auction through sealed tender or otherwise], of any goods or
property belonging to the Government or any authority, corporation or body, including its units, the activities
or the principal activities of which are authorised by any Act, Ordinance, order or instrument having the force
of law in Bangladesh or any company 485[ ***] as defined in 486[ 487[ ***] ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪
সননর ১৮নং আইন)] or any banking company, or any insurance company or any co-operative bank
established by or under any law for the time being in force shall collect, before delivering the possession of
the goods or the property, as advance tax on the income from the sale price of such goods or property from the
auction purchaser at such rate, not exceeding seven and a half per cent of the sale price, as may be prescribed.
Explanation.-For the purposes of this section, sale of any goods or property includes the awarding of any lease
to any person, including a lease of the right to collect octroi duties, tolls, fees or other levies, by whatever
name called, but does not include sale of a plot of land.

Deduction or collection of tax at source from courier business of a non-resident (Section-53CCC)

490[ 53CCC. Any person being a company registered under the Companies Act, 1913 (VII of 1913) or
ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন) working as local agent of a non-resident courier
company shall deduct or collect tax in advance at the rate of fifteen percent (15%) on the amount of service
charge accrued from the shipment of goods, documents, parcels or any other things outside Bangladesh]

Deduction from payment to actors, actresses, producers, etc (Section-53D)

491[ 53D. (1) A person responsible for making any part or full payment for purchasing a film, drama or
television or radio programme shall deduct tax at the rate of ten percent of the amount paid or payable at the
time of making payment or credit of such payment to the account of the payee.
(2) A person responsible for making any part or full payment to another person for performing in a film,
drama, advertisement or any television or radio programme shall deduct tax at the rate of ten percent of the
amount paid or payable at the time of making payment or credit of such payment to the account of the payee
492[ :
Provided that no tax shall be deducted under this section if the total payment does not exceed ten thousand
taka.]]

Deduction of tax at source from export cash subsidy (Section-53DDD)

495[ 53DDD. Any person responsible for paying any amount on account of export cash subsidy to an exporter
for promotion of export shall, at the time of payment or credit of such amount, deduct or collect tax in
advance at the rate of 496[ three per cent] on the amount so payable.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 63
 Deduction or collection at source from commission, discount, fees, etc (Section-53E)
497[ 53E. (1) Any company making a payment or allowing an amount to a distributor, called by whatever
name, or to any other person by way of commission, discount, fees, incentive or performance bonus or any
other performance related incentive or any other payment or benefit of the similar nature for distribution or
marketing of goods, shall deduct or collect tax at the time of payment or allowing the amount at the rate of ten
percent (10%) of the amount of payment or the amount allowed or the value of benefits allowed, as the case
may be.
(2) Any company making a payment in relation to the promotion of the company or its goods to any person
engaged in the distribution or marketing of the goods of the company shall, at the time of payment, deduct tax
at the rate of one point five percent (1.5%) of the payment.
(3) Any company, other than an oil marketing company, which sells goods to-
(a) any distributor, or
(b) any other person under a contract,
at a price lower than the retail price fixed by such company, shall collect tax from such distributor or such any
other person at the rate of five percent (5%) on the amount equal to B x C, where-
B = the selling price of the company to the distributor or the other person;
C = 5%:
Provided that a cigarette manufacturer company shall collect tax at the time of sale of its goods to such
distributor or to such other person at the rate of three percent (3%) of the difference between the sale price to
the distributor or the other person and the retail price fixed by such company.
(4) In this section-
(a) “payment” includes a transfer, credit or an adjustment of payment;
(b) “contract” includes an agreement or arrangement, whether written or not.]

Deduction of tax from commission or remuneration paid to agent of foreign buyer (Section-53EE)

498[ 53EE. Where, in accordance with the terms of the letter of credit or under any other instruction, a bank,
through which an exporter receives payment for export of goods, pays any amount out of the export proceeds
to the credit of any person being an agent or a representative of the foreign buyer, as commission, charges or
remuneration by whatever name it may be called, the bank shall deduct or collect tax in advance at the rate of
499[ ten per cent (10%)] on the commission, charges or remuneration so paid at the time of such payment.

Deduction at source from interest on saving deposits and fixed deposits, etc (Section-53F)
500[ 53F. (1) Any person responsible for paying to a resident any sum by way of interest or share of profit on
any saving deposits or fixed deposits or any term deposit maintained with any Scheduled bank including a co-
Omitted F.A operative bank or any bank run on Islamic principles or non-banking financial institution or any leasing
2018 company or housing finance company, as the case may be, shall deduct, at the time of credit of such interest or
share of profit to the account of the payee or at the time of payment thereof, whichever is earlier, income tax
on such sum at the rate of-
(a) ten percent where the person receiving such interest or share of profit furnishes his 501[ twelve-digit
Taxpayer’s Identification Number] (TIN) to the payer; or
(b) fifteen percent where the person receiving such interest or share of profit fails to furnish his 502[ twelve-
digit Taxpayer’s Identification Number] (TIN) to the payer:
Provided that the rate of deduction of tax shall be ten percent in case of saving deposit of which balance does
not exceed taka one lakh at any time in the year.
503[ (c) ten per cent (10%) where the person receiving such interest or share of profit is a public university, or
an educational institution whose teachers are enlisted for Monthly Pay Order (MPO), following the
curriculum approved by the Government and whose governing body is also formed as per Government rules
or regulations, or any professional institute established under any law and run by professional body of
Chartered Accountants, Cost and Management Accountants or Chartered Secretaries.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 64
 504[ (2) Notwithstanding anything contained in this Ordinance or any other law for the time being in force in
respect of exemption of tax from any fund, any person responsible for paying any sum by way of interest or
share of porfit on any saving deposits or fixed deposits or any term deposit maintained with any Scheduled
Omitted F.A
bank including a co-operative bank or any bank run on Islamic principles or non-banking financial institution
2018
or any leasing company or housing finance company, as the case may be, by or in the name of a fund shall
deduct, at the time of credit of such interest or share of profit to the account of the fund or at the time of
payment thereof, whichever occurs earlier, income tax at the rate of five percent (5%) on such sum.
(3) Nothing contained in this section shall apply-
Omitted F.A (a) to interest or share of profit arising out of any deposit pension scheme sponsored by the Government or by
2018 a Scheduled Bank with prior approval of the Government; or
(b) to such payee or class of payees as the Board may, by a general or special order, specify that income of
such payee or class of payee is otherwise exempted from tax.].]

Collection of tax from persons engaged in real estate or land development business (Section-53FF)

505[ 53FF. Any person responsible for registering any document for transfer of any land or building or
apartment, under the provision ofRegistration Act 1908 (XVI of 1908), shall not register the document unless
tax is paid at the following rate by the transferrer who is engaged in real estate or land development business,-
506[ (a) in case of building or apartment 507[ ,constructed for residential purposes,] situated-
508[ (i) at Gulshan Model Town, Banani, Baridhara, Motijeel Commercial Area and Dilkusha Commercial
Area of Dhaka, taka 509[ one thousand and six hundred] per square metre;
(ii) at Dhanmondi Residential Area, Defense Officers Housing Society (DOHS), Mahakhali, Lalmatia
Housing Society, Uttara Model Town, Bashundhara Residential Area, Dhaka Cantonment Area, Karwan
Bazar Commercial Area of Dhaka and Panchlaish Residential Area, Khulshi Resindential Area, Agrabad and
Nasirabad of Chittagong, taka 510[ one thousand and five hundred] per square metre;
511[ (iii) in areas other than the areas mentioned in sub-clauses (i) and (ii)-
A. if the area is within Dhaka South City Corporation, Dhaka North City Corporation and Chittagong City
Corporation, taka one thousand per square metre;
B. if the area is within any other city corporation, taka seven hundred per square metre;
C. any other area, taka three hundred per square metre:
Provided that the rate of source tax under clause (a) in respect of a residential apartment shall be twenty
percent (20%) lower if the size of the apartment, including common space, is not more than seventy square
metre, and forty percent (40%) lower if the size of the apartment, including common space, is not more than
sixty square metre.]
512[ (aa) in case of building or apartment or any space thereof, constructed not for the residential purposes,
situated-
(i) in areas mentioned under sub-clause (i) of clause (a), taka 513[ six thousand and five hundred] per square
metre;
(ii) in areas mentioned under sub-clause (ii) of clause (a), taka 514[ five thousand] per square metre;
515[ (iii) in areas other than the areas mentioned in sub-clauses (i) and (ii)-
A. if the area is within Dhaka South City Corporation, Dhaka North City Corporation and Chittagong City
Corporation, taka three thousand and five hundred per square metre;
B. if the area is within any other city corporation, taka two thousand and five hundred per square metre;
C. any other area, taka one thousand and two hundred per square metre.]
516[ (b) in case of land to which the document relates and on which stamp duty is chargeable under the Stamp
Act, 1899 (Act No. II of 1899) at the rate of-
(i) five percent for Dhaka, Gazipur, Narayanganj, Munshiganj,Manikganj, Narsingdi and Chittagong districts;
(ii) three percent for any other district.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 65
 Deduction at source from insurance commission (Section-53G)
53G. Any person responsible for paying to a resident any sum by way of remuneration or reward, whether by
way of commission or otherwise, for soliciting or procuring insurance business including business relating to
the continuance, renewal or revival of policies of insurance shall, at the time of credit of such sum to the
account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other
mode, whichever is earlier, deduct income tax on such sum at the rate of 517[ five percent] 518[ .

Deduction at source from fees, etc of Surveyors of general insurance company (Section-53GG)
53GG. A person responsible for paying to a resident any sum by way of remuneration or fees for conducting
any survey regarding settlement of claim of an insurance shall, at the time of payment, deduct income-tax on
such sum at the rate 520[ fifteen per cent]

Collection of tax on transfer, etc of property (Section-53H)

523[ 53H. (1) Any registering officer responsible for registering any document of a person under the
provisions of clause (b), (c) or (e) of sub-section (1) of section 17 of the Registration Act, 1908 (XVI of
1908) shall not register any document unless tax is paid at such rate as may be prescribed in relation to the
property to which the document relates and on which stamp-duty is chargeable under Stamp Act, 1899 (II of
1899) by the person whose right, title or interest is sought to be transferred, assigned, limited or extinguished
thereby, at the time of registration of such document:
Provided that the rate of tax shall not exceed taka ten lakh and eighty thousand per katha (1.65 decimal) for
land, taka six hundred per square meter for any structure, building, flat, apartment or floor space on the land,
if any, or four per cent of the deed value, whichever is higher.
(2) Nothing in this section shall apply to a document relating to:
(a) sale by a bank or any financial institution as a mortgagee empowered to sell;
(b) mortgage of any property to any bank or any financial institution of against any loan.

Collection of tax from lease of property (Section-53HH)

525[ 53HH. Any registering officer responsible for registering under the Registration Act, 1908 (XVI of
1908) any document in relation to any lease of immovable property for not less than ten years from any
authority formed or established under any law 526[ or from any other person being an individual, a firm, an
association of persons, a Hindu undivided family, a company or any artificial juridical person] shall not
register such document unless tax is paid at a rate of four per cent by the lessor on the lease amount of such
property.
Explanation.-For the purpose of this section, "any authority" shall mean Rajdhani Unnayan Kartripakkha
(RAJUK), Chittagong Development Authority (CDA), Rajshahi Development Authority (RDA), Khulna
Development Authority (KDA) or National Housing Authority.]

Deduction at source from interest on deposit of Post Office Savings Bank Account (Section-53I)
527[ 53I.Any person responsible for paying any amount on account of interest of Post Office Savings Bank
Account shall deduct, at the time of credit to the account of the payee or at the time of payment thereof,
whichever is earlier, tax on such amount at the rate of ten percent:
Provided 529[ ***] that nothing contained in this section shall apply to such payee or class of payees as the
Board may, by a general or special order, specify in this behalf.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 66
 Deduction at source from rental value of vacant land or plant or machinery (Section-53J)
530[ 53J. The Government or any authority, corporation or body, including its units, the activities or the
principal activities of which are authorised by any Act, Ordinance, Order or Instrument having the force of
law in Bangladesh or any company as defined in clause (20) of section (2) or any banking company or any
insurance company or any co-operative bank established by or under any law for the time being in force or
any non-government organization registered with NGO Affairs Bureau or any university or medical college or
dental college or engineering college responsible for making any payment on account of rental value of vacant
land or plant and/or machinery, shall deduct tax in advance at the time of such payment 531[ or credit of such
payment to the account of the payee] at the rate 532[ of five percent].]

Deduction of tax from advertising bill of newspaper or magazine or private television channel 533[ or
private radio station, 534[ etc]] (Section-53K)
535[ 53K.The Government or any authority, corporation or body, including its units, the activities or the
principal activities of which are authorised by any Act, Ordinance, Order or any other Instrument having the
force of law in Bangladesh or any company as defined in clause (20) of section (2) or any banking company
or any insurance company or any co-operative bank established by or under any law for the time being in
force or any non-government organization registered with NGO Affairs Bureau or any university or medical
college or dental college or engineering college responsible for making any payment to newspaper or
magazine or private television channel 536[ or 537[ private radio station or any web site538[ or any person on
account of advertisement or] of purchasing airtime of private television channel or radio station or such web
site], shall deduct tax in advance at the time of such payment at the rate of 539[ four per cent (4%)].]

Collection of tax from transfer of securities or mutual fund units by sponsor shareholders of a company etc
(Section-53M)
53M.The Securities and Exchange Commission or Stock Exchange, as the case may be, at the time of transfer
or declaration of transfer or according consent to transfer of securities or mutual fund units of a sponsor
shareholder or director or placement holder of a company or sponsor or placement holder of a mutual fund
listed with a Stock Exchange shall collect tax at the rate of five per cent on the difference between transfer
value and cost of acquisition of the securities or mutual fund units.
Explanation.- For the purpose of this section-
(1) ‘transfer’ includes transfer under a gift, bequest, will or an irrevocable trust;
(2) ‘transfer value’ of a security or a mutual fund unit shall be deemed to be the closing price of securities or
mutual fund units prevailing on the day of consent accorded by the Securities and Exchange Commission or
the Stock Exchange, as the case may be, or where such securities or mutual fund units were not traded on the
day such consent was accorded, the closing price of the day when such securities or mutual fund units were
last traded.]

Collection of tax from transfer of share of shareholder of Stock Exchanges (Section-53N)

543[ 53N. (1) The Principal Officer of a stock exchange shall deduct tax at the rate of fifteen per cent on any
profits and gains arising from the transfer of share of a shareholder of stock exchange established under
‘‘এক্সনেনেস মিমমউেয্য়োলোইনেশন আইন, ২০১৩, (২০১৩ সননর ১৫ নং আইন)’’ [Exchanges
Demutualisation Act, 2013 (Act No. 15 of 2013)] at the time of transfer or declaration of transfer or according
consent to transfer of such share, whichever is earlier.
(2) For the purpose of the computation of profits and gains of share under sub-section (1), the cost of
acquisition of such share shall be the cost of acquisition incurred before ‘‘এক্সনেনেস মিমমউেয্য়োলোইনেশন
আইন, ২০১৩, (২০১৩ সননর ১৫ নং আইন)’’ [Exchanges Demutualisation Act, 2013 (Act No. 15 of 2013)]
came into force.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 67
 Deduction of tax from any sum paid by real estate developer to land owner (Section-53P)
546[ 53P. Deduction of tax from any sum paid by real estate developer to land owner.-Where any person
engaged in real estate or land development business pays any sum to the land owner on account of signing
money, subsistence money, house rent or in any other form called by whatever name for the purpose of
development of the land of such owner in accordance with any power of attorney or any agreement or any
written contract, such person shall deduct tax at the rate of fifteen per cent (15%) on the sum so paid at the
time of such payment.]

Deduction of tax from dividends (Section-54)

547[ 54. Deduction of tax from dividends.- The principal officer of a company registered in Bangladesh, or of
any other company, shall, at the time of paying any dividend to a shareholder, deduct tax on the amount of
such dividend, in the case of a resident or a non-resident Bangladeshi,-

(a) if the shareholder is a company, at the rate applicable to a company ;

(b) if the shareholder is a person other than a company, at the rate of ten per cent (10%) where the person
receiving such dividend furnishes his twelve-digit Taxpayer's Identification Number (TIN) to the payer or
Inserted F.A fifteen per cent (15%) where the person receiving such dividend fails to furnish his twelve-digit Taxpayer's
2018 Identification Number (TIN) to the payer; “Provided that the provision of this section shall not be applicable
to any distribution of taxed dividend to a company being resident in Bangladesh if such taxed dividend enjoys
tax exemption under the provisions of the paragraph 60 of Part A of the Sixth Schedule.”]

Deduction from income from lottery, etc (Section-55)

55. The person responsible for paying any amount on account of winnings referred to in section 19(13) shall,
at the time of making such payment, deduct tax 548[ payable on the amount at the rate of twenty per cent].
Explanation.-For the purpose of this section, the expression “any amount” means the value of any goods or
assets where the payment on account of such winnings is made not in the form of cash but in the from of
goods or other assets.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 68
 Deduction from income of non-residents (Section-56)
56. 549[ (1) Subject to the provisions of sub-section (2), the specified person or any other person responsible
for making payment to a non-resident of any amount which constitutes the income of such non-resident
chargeable to tax under this Ordinance shall, unless such person is himself liable to pay tax thereon as agent,
at the time of making such payment, deduct tax on the amount so payable at the rate, specified below:

SL.
Description of services or payments Rate of deduction of tax
No

1 Advisory or consultancy service 20%

2 Pre-shipment inspection service 20%

Professional service, technical services,

3 20%
technical know-how or technical assistance

Architecture, interior design or landscape

4 20%
design, fashion design or process design

5 Certification rating etc. 20%

Charge or rent for satellite, airtime or

6 20%
frequency, rent for channel broadcast

7 Legal service 20%

Management service including event

8 20% 10%
management

9 Commission 20%

10 Royalty, license fee or payments related to 20%

11 Interest 20%

12 Advertisement broadcasting 20%

13 Advertisement making550[ or Digital marketing] 15%

Inserted F.A “not being the carrying services mentioned in

14 7.5%
2018 sections 102 or 103A”

Contractor or sub-contractor of manufacturing,

15 process or conversion, civil work, construction, 7.5%
engineering or works of similar nature.

16 Supplier 7.5%
17 Capital gain 15%
18 Insurance premium 10%
19 Rental of machinery, equipment etc. 15%

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 69
 Dividend-
(a) company------ 20%
20
20%
(b) any other person, not being acompany---

21 Artist, singer or player 30%

22 Salary or remuneration 30%

23 Exploration or drilling in petroleum operations 5.25%

24 Survey for oil or gas exploration 5.25%

Any service for making connectivity

25 5.25%
between oil or gas field and its export point

Any payments against any services not

26 20%
mentioned above

27 Any other payments 30%

(2) Where the Board, on an application made in this behalf, gives a certificate that, to the best of its belief,
Omitted F.A the non-resident will not be liable to pay any tax under this Ordinance, or will be liable to pay tax at a rate
2018 less than the maximum rate, payment referred to in subsection (1) shall be made without any deduction, or,
as the case may be, with deduction at the lesser rate specified in the certificate.

“(2) Where, in respect of any payment under this section, the Board, on an application made in this behalf, is
satisfied that due to tax treaty or any other reason the non-resident is not be liable to pay any tax in
Bangladesh, or is liable to pay tax at a reduced rate in Bangladesh, the Board may issue a certificate to the
Inserted F.A effect that the payment referred to in sub-section (1) shall be made without any deduction or, in applicable
2018 cases, with a deduction at the reduced rate as mentioned in the certificate.
(2A) Tax deducted under this section shall be deemed to be the minimum tax liability of the payee in respect
of the income for which the deduction is made, and shall not be subject of refund or set off or an adjustment
against a demand.”

(3) In this section-

(i) “specified person” shall have the same meaning as in clause (a) of sub-section (2) of section 52 of this
Ordinance;
(ii) “payment” includes a transfer, a credit or an adjustment of payment.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 70
 Consequences of failure to deduct, collect, etc (Section-57)
551[ 57. Consequences of failure to deduct, collect, etc.- (1) Where a person-
(a) fails to deduct or collect tax at source as required by or under the provisions of this Chapter; or
(b) deducts or collects tax at a lesser rate or in lesser amount; or
(c) after deducting or collecting tax under this Chapter, fails to pay the same to the credit of the Government,
or pays to the credit of the Government an amount lower than the collected or deducted amount;
such person shall be deemed to be an asseesee in default, and without prejudice to any other consequences to
which such person may be liable, shall be personally liable to pay –
(i) the amount of tax that has not been deducted or collected; or
(ii) the amount which was required to be deducted or collected under this Chapter as reduced by the amount
that has been actually deducted or collected; or
(iii) the amount that, after being collected and deducted, has not been paid to the credit of the Government.

(2) In addition to the amount as mentioned in sub-section (1), the person shall also be liable to pay an
additional amount at the rate of two percent (2%) per month on the amount as mentioned in sub-clauses (i),
(ii) and (iii) of clause (c) of sub-section (1), as the case or cases may be, calculated for the period-

(i) in the case of failure to deduct or collect, or of the deduction or collection at lower rate or amount, from the
due date of the deduction or collection to the date of the payment of the amount, as mentioned in sub-clauses
(i) or (ii) of clause (c) of sub-section (1), as the case may be, to the credit of the Government;
(ii) in the case of failure to deposit the amount deducted or collected, from the date of deduction or collection
to the date of payment of the amount, as mentioned in sub-clause (iii) of clause (c) of sub-section (1), to the
credit of the Government.
Explanation.-The period for which the additional amount is calculated shall not exceed twenty four months.

(3) The Deputy Commissioner of Taxes shall take necessary action for the realisation of the amount as
mentioned in sub-section (1) and the additional amount as mentioned in sub-section (2) from the person
referred to in sub-section (1) after giving the person a reasonable opportunity of being heard.

(4) No realisation of the amount mentioned in sub-section (1) shall be made if it is established that such
amount has meanwhile been paid by the person from whom the deduction or collection was due.]

Consequences of the issuance of certificate of tax deduction or collection without actual deduction,
collection or payment (Section-57A)
552[ 57A. (1) Where a person issues a certificate of deduction or collection of tax at source without actual
deduction or collection or payment to the credit of the Government, without prejudice to any other
consequences to which he may be liable, the person shall be personally liable to pay the amount not being
deducted, collected or paid to the credit of the Government.
(2) The Deputy Commissioner of Taxes shall take necessary action for the collection of amount mentioned in
sub-section (1) from the person so personally liable after giving the person a reasonable opportunity of being
heard.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 71
 Certificate of deduction, etc of tax (Section-58)
553[ 58. (1) Every person who has deducted or collected any tax under this Chapter shall furnish, to the
person from whom such deduction or collection has been made, a certificate of tax deduction or collection
specifying therein-
(a) the name and the Taxpayer’s Identification Number, if any, of the person from whom tax has been
deducted or collected;
(b) the amount of deduction or collection of taxes;
(c) section or sections under which tax has been deducted or collected;
(d) the particulars of the payment of deducted or collected amount to the credit of the Government; and
(e) such other particulars as may be prescribed.
(2) The Board may, by notification in the official Gazette, -
(a) specify 554[ the cases in which] the certificate of tax deduction or collection shall be generated or
furnished electronically or in any other machine readable or computer readable media;
(b) specify the manner in which such electronic, machine readable or computer readable certificate shall be
generated or furnished.]
Inserted F.A “(3) Every person who has deducted or collected any tax under this Chapter shall furnish a statement to such
2018 income tax authority and in such manner as may be prescribed.”

Payment to Government of tax deducted (Section-59)

59. All sums deducted or collected as tax under the provisions of this Chapter shall be paid within the
prescribed time by the person making the deduction or collection to the credit of the Government or as the
Board may direct.

Unauthorised deduction prohibited (Section-60)

60. Save as provided in this Ordinance, no person shall charge, withhold, deduct or collect any sum, directly
or indirectly, as tax and, where any sum is so charged, withheld, deducted or collected, it shall be paid in the
manner provided in section 59.

Power to levy tax without prejudice to other mode of recovery (Section-61)

61. The power to levy tax by deduction or collection under this Chapter shall be without prejudice to any other
mode of recovery.

Credit of tax deducted or collected at source (Section-62)

62. Any deduction or collection of tax made and paid to the account of the Government in accordance with
the provisions of this Chapter shall be treated as a payment of tax on behalf of the person from whose income
the deduction or collection was made, or of the owner of the security or of the shareholder, as the case may be,
and credit shall be given to him therefore on the production of the certificate furnished 555[, along with the
proof of payment of such tax to the account of the Government,] under section 58 in the assessment, if any,
made for the following year under this Ordinance:

Provided that, if such person or such owner obtains, in accordance with the provisions of this Ordinance, a
refund of any portion of the tax so deducted, no credit shall be given for the amount of such refund:
Provided further that where such person or owner is a person whose income is included under the provisions
of sections 43(4) or (5) or section 104 or 105 or 106 in the total income of another person, such other person
shall be deemed to be the person or owner on whose behalf payment has been made and to whom credit shall
be given in the assessment for the following year.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 72
 Payment of tax where no deduction is made (Section-63)
63. The tax under this Ordinance shall be payable by the assessee direct-
(a) in any case where tax has not been deducted or collected as required by, and in accordance with, the
provisions of this Chapter;
(b) in any case where the amount deducted or collected is found, after regular assessment, to be less than the
tax due from the assessee, to the extent of deficiency; and
(c) in the case of income in respect of which no provision has been made for deduction or collection of tax
under the provisions of this Chapter.

Advance payment of tax (Section-64)

64. (1) Except as provided in sub-section (2), tax shall be payable by an assessee during each financial year by
way of advance payment of tax, hereinafter referred to as “advance tax”, in accordance with the provisions
hereafter made in this Chapter if the total income of the assessee for the latest income year in respect of which
he has been assessed by way of regular assessment or has been provisionally assessed under this Ordinance or
the Income-tax Act, 1922 (XI of 1922), exceeds 559[ four lakh taka].

(2) Nothing in sub-section (1) shall apply to any income classifiable under the heads “Agricultural income”
and “Capital gains” 560[ excluding gain from transfer of share of a company listed with a stock exchange].

Computation of advance tax (Section-65)

65. (1) The 561[ The minimum amount of advance tax] payable by an assessee in a financial year shall be the
amount equal to the tax payable on his total income of the latest income year as assessed on regular basis or
provisionally, as the case may be, as reduced by the amount of tax required to be deducted or collected at
source in accordance with the preceding provisions of this Chapter.
(2) The tax payable under sub-section (1) shall be calculated at the rates in force in respect of the financial
year referred to therein.

Instalments of advance tax (Section-66)

66. Advance tax shall be payable in four equal instalments on the fifteenth day of September, December,
March and June of the financial year for which the tax is payable 562[ :
Provided that, if before the fifteenth day of May of the year, an assessment of the assessee is completed in
respect of an income year, later than that on the basis of which the tax was computed under section 65, the
assessee shall pay in one instalment on the specified date or in equal instalments on the specified dates, if
more than one falling after the date of the said assessment, the tax computed on the revised basis as reduced
by the amount, if any, paid in accordance with the original computation.]

Estimate of advance tax (Section-67)

67. (1) Where, an assessee who is required to pay advance tax under section 64 estimates, at any time before
the last instalment is due, that the tax payable by him for the relevant assessment year is likely to be less than
the amount of tax as computed under section 65, he may, after giving to the Deputy Commissioner of Taxes
an estimate of the tax payable by him, pay such estimated amount of advance tax, as reduced by the amount, if
any, already paid, in equal instalments on the due dates of payment under section 66.

(2) The assessee may furnish a revised estimate of such amount at any time before any of such instalments
become payable and may thereby adjust any excess or deficiency, by reference to the amount already paid by
him under this section, in any subsequent instalment or instalments payable in such financial year.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 73
 Advance payment of tax by new assessees (Section-68)
68. Any person who has not previously been assessed by way of regular assessment under this Ordinance or
the Income-tax Act, 1922 (XI of 1922), shall before the fifteenth day of June in each financial year, if his total
income, subject to section 64(2), of the period which would be the income year for the immediately following
assessment year is likely to exceed 563[ four lakh taka], send to the Deputy Commissioner of Taxes an
estimate of his total income and advance tax payable by him calculated in the manner laid down in section 65
and shall pay such amount on such dates specified in section 66 as have not expired by instalments which may
be revised according to section 67(2).

Advance tax on certain income (Section-68A)

564[ 68A. (1) A manufacturer of cigarette shall pay advance tax at the rate of three percent (3%) on net sale
price in every month.
(2) The advance tax paid under sub-section (1) shall be adjustable against the quarterly installments of
advance tax payable under section 66.
Explanation.-In this section, “net sale” shall be A- B, where, A is the gross sale and B is the value added tax
and the supplementary duty, if any, on such gross sale.

Advance tax for the owners of private motor car (Section-68B)

68B. (1) Every person owning a private motor car shall be deemed to have an income by which the motor car
is maintained and shall pay advance income tax to be collected at the rate and in the manner as mentioned in
sub-section (2).
(2) Subject to the provision of sub-section (3), the authority responsible for the registration and fitness
renewal of motor car shall collect, on or before the date of registration or fitness renewal of the motor car,
advance tax at the following rate-
Amount of tax
Serial
Type and engine capacity of motor car (in taka)
No

1 A car or a Jeep, not exceeding 1500cc 15,000/-

A car or a Jeep, exceeding 1500cc but not exceeding
2 30,000/-
2000cc

3 A car or a Jeep, exceeding 2000cc but not exceeding 50,000/-

4 A car or a Jeep, exceeding 2500cc but not exceeding 75,000/-

A car or a Jeep, exceeding 3000cc but not exceeding

5 1,00,000/-
3500cc
6 A car or a Jeep, exceeding 3500cc 1,25,000/-
7 A microbus 20,000/-
Provided that the rate of tax shall be fifty percent (50%) higher for each additional motor car if the owner has
two or more motor cars in his name or in joint names with other person or persons.
(3) Advance tax under sub-section (2) shall not be collected if the motor car is owned by-
(i) the government and the local government;
(ii) a project, programme or activity under the government and the local government;
(iii) a foreign diplomat, a diplomatic mission in Bangladesh, United Nations and its offices;
(iv) a development partner of Bangladesh and its affiliated office or offices;
(v) an educational institution under the Monthly Payment Order of the Government;
(vi) a public university;
(vii) any entity that is not a person as defined under clause (46) of section (2) of this Ordinance;
(viii) a gazetted war-wounded freedom fighter; or

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 74
(ix) an institution that has obtained a certificate from the Board that advance tax shall not be collected from it.
(4) Where a person pays advance tax under sub-section (2), and the income from regular sources of the person
results in a tax liability less than the said advance tax, the income of such person shall be deemed to be the
amount that results a tax liability equal to the said advance tax.
(5) The advance tax paid under sub-section (2) shall not be refundable.
(6) In this section-
(a) "motor car" means a motor car as defined in clause (25) of section 2 of the Motor Vehicles Ordinance
1983 (LV of 1983) and includes a jeep and a microbus;
(b) income from regular sources means income from any source other than the sources mentioned in sub-
section (2) of section 82C.]

Failure to pay instalments of advance tax (Section-69)

69. Where, an assessee who is required to pay advance tax fails, to pay any instalment of such tax, as
originally computed or as the case may be, estimated, on the due date, he shall be deemed to be an assessee in
default in respect of such instalment.

Levy of interest for failure to pay advance tax (Section-70)

70. Where, in respect of an assessee who is required to pay advance tax, it is found in the course of regular
assessment that advance tax has not been paid in accordance with the provisions of this Chapter, there shall be
added, without prejudice to the consequences of the assessee being in default under section 69, to the tax as
determined on the basis of such assessment, simple interest thereon calculated at the rate and for the period
specified in section 73.

Credit of advance tax (Section-71)

71. Any sum, other than a penalty or interest, paid by or recovered from an assessee as advance tax, shall be
treated as a payment of tax in respect of the income of the period which would be the income year for an
assessment for the year next following the year in which it was payable and shall be given credit for in the
assessment of tax payable by the assessee.

Interest payable by Government on excess payment of advance tax (Section-72)

72. (1) The Government shall pay simple interest at 565[ ten per cent] per annum on the amount by which the
aggregate sum of advance tax paid during a financial year exceeds the amount of tax payable by him as
determined on regular assessment.
(2) The period for which interest under sub-section (1) shall be payable shall be the period from the 566[ first
day of July of the year of assessment] to the date of regular assessment in respect of the income of that year or
a period of two years from the said 567[ first day of July], whichever is shorter.

Interest payable by the assessee on deficiency in payment of advance tax (Section-73)

568[ 73. (1) Where in any financial year advance tax paid by an assessee together with the tax deducted or
collected at source, if any, under this Chapter is less than seventy-five percent (75%) of the amount of tax
payable by him as determined on regular assessment, the assessee shall pay, in addition to the balance of tax
payable by him, simple interest at the rate of ten percent (10%) per annum on the amount by which the tax so
paid, deducted and collected falls short of the seventy five percent (75%) of the assessed tax:
Provided that the rate of interest shall be fifty percent (50%) higher if the return is not filed on or before the
Tax Day.
(2) The period for which the interest under sub-section (1) is payable shall be the period from the first day of
July next following the financial year in which the advance tax was applicable to the date of regular
assessment in respect of the income of that year or a period of two years from the said first day of July,
whichever is shorter.
(3) Notwithstanding anything contained in sub-sections (1) and (2), where-
(a) tax is paid under section 74; or

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 75
(b) provisional assessment has been made under section 81 but regular assessment has not been made, the
simple interest shall be calculated in accordance with the following provisions-
(i) up to the date or dates on which tax under section 74 or as provisionally assessed, was paid;
(ii) thereafter, such simple interest shall be calculated on the amount by which the tax so paid falls short of the
said seventy five percent (75%) of the assessed tax.
(4) Where as a result of appeal, revision or reference the amount on which interest was payable under sub-
section (1) has been reduced, the amount of interest payable shall be reduced accordingly and the excess
interest paid, if any, shall be refunded together with the amount of tax that is refundable.
Explanation.-For the removal of doubts, it is hereby declared that in this section, “regular assessment”
includes 569[ the acceptance of revised return or the assessment made as a result of the audit under section
82BB(7)].

Delay Interest for not filing return on or before the Tax Day (Section-73A)
73A. (1) Where an assessee is required to file a return of income for an assessment year under section 75 and
fails to file the same before the expiry of the Tax Day, the assessee shall, without prejudice to any other
consequences to which he may be liable to, pay a delay interest at the rate of two percent (2%) per month on
the difference between the tax assessed on total income for the assessment year and the tax paid in advance for
the assessment year including the tax deducted or collected at source;
Explanation.-In this section, the expression “tax assessed on total income” as mentioned in 570[ ***] sub-
section (1) means-
571[ (i) where the return is subject to assessment under section 82BB, if tax under any other sub-section of
section 82BB is higher than the tax under sub-section (1) of that section, the higher tax;]
(ii) where the return is not subject to assessment under section 82BB, tax on total income as assessed by the
Deputy Commissioner of Taxes.
(2) The delay interest under sub-section (1) shall be calculated for a period from the first day immediately
following the Tax Day to-
(a) where the return is filed, the date of filing the return;
(b) where the return is not filed, the date of regular assessment:
Provided that the period for calculating delay interest under this section shall not exceed one year:
Provided further that the delay interest under this section shall not be payable by an assessee for whom the
proviso of sub-section (5) of section 75 applies.]

Payment of tax on the basis of return (Section-74)

74. 572[ (1) Every person who is required to file a return under section 75, 77, 78, 89(2), 91(3) or 93(1) shall,
on or before the date on which he files the return, pay the amount of tax payable by him on the basis of such
return or as per provision of 573[ sub-section (4) of section 82C], which ever is higher, as reduced by the
amount of any tax deducted from his income or paid by him in accordance with the provisions of this Chapter.]
(2) Any amount paid under sub-section (1) shall be deemed to have been paid towards the sum as may be
determined to be payable by him after regular assessment.
(3) A person who, without reasonable cause, fails to pay the tax as required by sub-section (1) shall be
deemed to be an assessee in default.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 76
 CHAPTER VIII
RETURN AND STATEMENT

Return of income (Section-75)

574[ 75.(1) Subject to the provisions of sub-section (2), every person shall file or cause to be filed, with the
Deputy Commissioner of Taxes, a return of income of the income year –
(a) if the total income of the person during the income year exceeds the maximum amount that is not
chargeable to tax under this Ordinance; or
(b) if such person was assessed to tax for any one of the three years immediately preceding that income year;
or
(c) if the person is-
(i) a company; or
(ii) a non-government organisation registered with NGO Affairs Bureau; or
(iii) a co-operative society; or
(iv) a firm; or
(v) an association of persons; or
(vi) a shareholder director or a shareholder employee of a company; or
(vii) a partner of a firm; or
(viii) an employee of the government or an authority, corporation, body or units of the government or formed
by any law, order or instrument being in force, if the employee, at any time in the income year, draws a basic
salary of taka sixteen thousand or more; or
575[ (ix) an employee holding an executive or a management position in a business or profession; or]
(d) if the person, not being an institution established solely for charitable purpose or a fund, has an income
during the income year which is subject to tax exemption or lower tax rate under section 44; or

(e) if the person, at any time during the relevant income year fulfills any of the following conditions, namely:-
(i) owns a motor car; or
(ii) owns a membership of a club registered under 576[ any law governing value added tax]; or
(iii) runs any business or profession having trade license from a city corporation, a paurashava or a union
parishad; or
(iv) has registered with a recognized professional body as a doctor, dentist, lawyer, chartered accountant, cost
and management accountant, engineer, architect or surveyor or any other similar profession; or
(v) has registered with the Board as an income tax practitioner; or
(vi) has a membership of a chamber of commerce and industries or a trade association or body; or
(vii) runs for an office of any paurashava, city corporation, or a Member of Parliament;
(viii) participates in a tender floated by the government, semi-government, autonomous body or a local
authority; or
(ix) serves in the board of directors of a company or a group of companies:
Provided that any non-resident Bangladeshi may file his return of income along with bank draft equivalent to
the tax liability, if any, on the basis of such return, to his nearest Bangladesh mission and the mission will
issue a receipt of such return with official seal and send the return to the Board.
Inserted F.A
“(x) participates in a ride sharing arrangement by providing motor vehicle:”;
2018
Inserted F.A
(2) A return of income “under sub section (1)” shall not be mandatory for-
2018

(i) an educational institution receiving government benefits under Monthly Payment Order (MPO); or
(ii) a public university; or
(iii) a fund; or
“(iiia) a non-resident, not being a non-resident individual, having no permanent establishment in Bangladesh;
Inserted F.A
or
2018
(iiib) a non-resident individual having no fixed base in Bangladesh; or”

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 77
(iv) any class of persons which the Board, by order in official gazette, exempt from filing the return.
(3) Subject to the provision of sub-section (4), the return under sub-section (1) shall be-
(a) furnished in the prescribed form setting forth therein such particulars and information, and accompanied
by such schedules, statements, accounts, annexures or documents as may be prescribed;
(b) signed and verified-
(i) in the case of an individual, by the individual himself; where the individual is absent from Bangladesh, by
the individual concerned or by some person duly authorised by him in this behalf; and when the individual is
mentally incapacitated from attending to his affairs, by his guardian or by any other person competent to act
on his behalf;
(ii) in the case of a Hindu undivided family, by the Karta, and, where the Karta is absent from Bangladesh or
is mentally incapacitated from attending to his affairs, by any other adult member of such family;
(iii) in the case of a company or a local authority, by the principal officer thereof;
(iv) in the case of a firm, by any partner thereof, not being a minor;
(v) in the case of any other association, by any member of the association or the principal officer thereof;
(vi) in the case of any other person, by that person or by any person competent to act on his behalf;
(c) accompanied by-
(i) in the case of individual, statements of assets, liabilities and life style as required under section 80;

(ii) in the case of a company, an audited statement of accounts and a computation sheet explaining the
difference between the profit or loss shown in the statement of accounts and the income shown in the return.
(4) The Board may, by notification in the official Gazette, -
(a) specify that any return required to be filed under this section shall be filed electronically or in any other
machine readable or computer readable media;
(b) specify the form and the manner in which such electronic, machine readable or computer readable returns
shall be filed.
(5) Every return under this section shall be filed, unless the date is extended under sub-section (6), on or
before the Tax Day:
Provided that an individual being Government official engaged in higher 577[ education or training on
deputation or leave] or employed under lien outside Bangladesh shall file return or returns for the period of
such deputation or lien, at a time, within three months from the date of his return to Bangladesh.
(6) The last date for the submission of a return for a person may be extended by the Deputy Commissioner of
Taxes upon the application by the person in the prescribed form:
Provided that the Deputy Commissioner of Taxes may extend the date up to two months from the date so
specified and he may further extend the date up to two months with the approval of the Inspecting Joint
Commissioner.

Return of withholding tax (Section-75A)

75A. (1) Every person, being a company or a co-operative society or a non-government organization
registered with NGO Affairs Bureau, shall file or cause to be filed, with the Deputy Commissioner of Taxes
under whose jurisdiction he is an assessee, a return of tax deducted or collected under the provisions of
Chapter VII of this Ordinance.
(2) The return under sub-section (1) shall be-
(a) furnished in the prescribed form setting forth therein such particulars and information, and accompanied
by such schedules, statements, accounts, annexures or documents as may be prescribed;
(b) signed and verified in the manner as specified in 578[ clause (b)] of sub-section (3) of section 75;
(c) filed half-yearly by the following dates-
(i) First return: by Thirty-first January of the year in which the deduction or collection was made;
(ii) Second return: by Thirty-first July of the next year following the year in which the deduction or collection
was made:
Provided that the last date for the submission of a return as specified in this sub-section may be extended by
the Deputy Commissioner of Taxes upto fifteen days from the date so specified.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 78
(3) The Board may, by notification in the official Gazette,-
(a) specify 579[ the cases in which the] return required to be filed under this section shall be filed
electronically or in any other machine readable or computer readable media;
(b) specify the form and the manner in which such electronic, machine readable or computer readable returns
shall be filed.
Audit of the return of withholding tax (Section-75AA)
75AA. (1) The Deputy Commissioner of Taxes, with the approval of the Board, shall select a number of
returns of withholding tax filed under section 75A for audit.
(2) The Deputy Commissioner of Taxes shall conduct the audit of the selected return in respect of the
following matters-
(a) whether the tax has been deducted or collected at the rate, in the amount and in the manner as provided in
Chapter VII of this Ordinance and the rules made thereunder;
(b) whether the tax collected or deducted has been paid to the credit of the Government, or has been paid in
accordance with the manner and within the time as prescribed;
(c) whether the certificate of tax deduction or collection has been furnished in accordance with the provisions
of this Ordinance.
(3) Where an audit under sub-section (2) results in findings that the provisions of this Ordinance in respect of
the matters mentioned in clauses (a), (b) or (c) of sub-section (2) have not complied with, the Deputy
Commissioner of Taxes conducting the audit may take necessary actions under this Ordinance, including the
actions under sections 57, 57A and 124.
(4) No return shall be selected for audit after the expiry of four years from the end of the year in which the
return was filed.]

Obligation to furnish Annual Information Return (Section-75B)

580[ 75B.(1) Government may, by notification in the official gazette, require any person or group of persons
responsible for registering or maintaining books of account or other documents containing a record of any
specified financial transaction, under any law for the time being in force, to furnish an Annual Information
Return, in respect of such specified financial transaction.
(2) The Annual Information Return referred to in sub-section (1) shall be furnished to the Board or any other
income tax authority or agency, in such form, manner and within such time as may be prescribed.]

Concurrent jurisdiction (Section-75C)

581[ 75C.Board may, by general or a special order in writing, direct that in respect of all or any proceedings
relating to receiving of return of income and issuance of acknowledgement thereof in accordance with the
provisions of section 75, 77, 78, 89(2), 91(3) or 93(1), the powers and functions of the Deputy Commissioner
of Taxes shall be concurrently exercised by such other authority as may be specified by the Board.]

Notice of filing return (Section-77)

77. 584[ (1) The Deputy Commissioner of Taxes may, at any time after expiry of the date specified in section
75, by a notice in writing, require –
(a) any person, other than a company, to file a return of his total income as provided in that section if, in the
opinion of the Deputy Commissioner of Taxes the total income of such person was, during the income year, of
such amount as to render liable to tax;
(b) any company to file a return of its total income, if it is not filed.]
(2) The return under sub-section (1) shall be filed within such period, not being less than 585[ twenty-one
days], as may be specified in the notice or which such extended period as the Deputy Commissioner of Taxes
may allow.

Filing of revised return (Section-78)

78. Any person who has not filed a return as required by section 75 or 77 or who, having filed return,
discovers any omission or incorrect statement therein, may, without prejudice to any liability which he may
have incurred on this account, file a return or a revised return, as the case may be, at any time before the
assessment is made.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 79
 Production of accounts and documents, etc (Section-79)
586[ 79. (1)The Deputy Commissioner of Taxes may by notice in writing require an assessee, who has filed a
return under Chapter VIII or to whom a notice has been issued to file a return, to produce or cause to be
produced such accounts, statements, documents, data or electronic records, not being earlier than three years
prior to the income year, as he may consider necessary for the purpose of audit or assessment under this
Ordinance.
(2) The Deputy Commissioner of Taxes may specify in the notice that the accounts, statements, documents,
data or electronic records or any part thereof shall be produced in such electronic form or by such electronic
media as may be mentioned in the notice.
(3) The accounts, statements, documents, data or electronic records shall be produced on or before the date as
may be specified in the notice.
(4) In this section-
(a) “return” includes a revised return or an amended return;
(b) “data” includes “উপোত্ত” as defined in clause (10) of section 2 of িথ্ ও ক োগোন োগ প্র ুক্তি আইন, ২০০৬
(২০০৬ সননর ৩৯ নং আইন);
(c) “electronic record” and “electronic form” shall have the same meaning as assigned to “ইনল ট্রমন
কর িি” and “ইনল ট্রমন মবন্োস” respectively in clauses (7) and (5) of section 2 of িথ্ ও ক োগোন োগ
প্র ুক্তি আইন, ২০০৬ (২০০৬ সননর ৩৯ নং আইন)।]
Statements of assets, liabilities and life style (Section-80)
587[ 80. (1) Every person, being an individual assessee, shall furnish statements in the forms and manners as
prescribed in respect of the total assets, liabilities and expenses of the person or the spouse, minor children
and dependents of the person as on the last date of the income year if the person-
(a) has, in the last date of the income year, a gross wealth exceeding taka 588[ twenty five] lakh; or
(b) owns a motor car; or
(c) has made an investment in a house property or an apartment in the city corporation area:
Provided that any person, being an individual assessee, who is not required to submit the statement mentioned
in this subsection may voluntarily submit such statement.
(2) Every person, being an individual assessee, shall furnish in the forms and manners as prescribed, a
statement of expenses relating to the life style of such person:
Provided that an individual, not being a shareholder director of a company, having income from salary or from
business or profession may opt not to submit such statement if his total income does not exceed three lakh
taka in the income year.
(3) Where any statement as mentioned in sub-section (1) is not submitted by a person being an individual, the
Deputy Commissioner of Taxes may require, by notice in writing, to submit the same by person within the
time as mentioned in the notice.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 80
 CHAPTER IX
ASSESSMENT

Provisional assessment (Section-81)

81. (1) The Deputy Commissioner of Taxes may, at any time after the first day of July of the year for which
the assessment is to be made, proceed to make, in a summary manner, a provisional assessment of the tax
payable by the assessee on the basis of the return and the accounts and documents, if any, accompanying it
and where no return has been filed, on the basis of the last assessment including an assessment under this
section.
(2) In making a provisional assessment under this section, the Deputy Commissioner of Taxes shall-
(a) rectify any arithmetical errors in the return, accounts and documents;
(b) allow, on the basis of the information available from the return, accounts and documents, such allowances
as are admissible under the Third Schedule and any loss carried forward under section 38 or 39 or 41.
(3) For the purposes of payment and recovery, the tax as determined to be payable upon provisional
assessment shall have effect as if it were determined upon regular assessment.
(4) The tax paid or deemed to have been paid under Chapter VII, in respect of any income provisionally
assessed under sub-section (1), shall be deemed to have been paid towards the provisional assessment.
(5) Any amount paid or deemed to have been paid towards provisional assessment under this section shall be
deemed to have been paid towards regular assessment; and the amount paid or deemed to have been paid
towards provisional assessment in excess of the amount found payable after regular assessment shall be
refunded to the assessee.
(6) Nothing done or suffered by reason or in consequence of any provisional assessment made under this
section shall prejudice to the determination on merit of any issue which may arise in the course of regular
assessment.
(7) There shall be no right of appeal against a provisional assessment under this section.

Assessment on correct return (Section-82)

589[ 82.Where a return or a revised return has been filed under Chapter VIII and the Deputy Commissioner of
Taxes is satisfied, without requiring the presence of the assessee or the production of any evidence, that the
return is correct and complete, he shall assess the total income of the assessee and determine the tax payable
by him on the basis of such return and communicate the assessment order to the assessee within thirty days
next following:
Provided that-
(a) such return shall be filed on or before the date specified in 590[ sub-section (5)] of section 75;
(b) the amount of tax payable shall be paid on or before the date on which the return is filed; 591[ * * *]
(c) such return does not show any loss or lesser income than the last assessed income, or assessment on the
basis of such return does not result in refund 592[ ; and
(d) such return shall mention twelve-digit Taxpayer's Identification Number.]]

Assessment under simplified procedure (Section-82A)

593[ 82A. Where an assessee, other than a public company as defined in the Companies Act, 1913 (VII of
1913) or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন), who has previously been assessed for any
assessment year ended on or before the thirtieth day of June, 1995, files a return showing income for the
income year relevant to the assessment year commencing on or after the first day of July, 1995 and ending on
or before the thirtieth day of June, 1997 and the income shown in such return is higher by not less than ten per
cent over the last assessed income and has also increased by at least a further sum of ten per cent for each
preceding assessment year in respect of which the assessment is pending, the return filed by the assessee shall
be deemed to be correct and complete and the Deputy Commissioner of Taxes shall assess the total income of
the assessee on the basis of such return and determine the tax payable by him 594[ on the basis of such
assessment, and communicate the assessment order to the assessee within thirty days next following],
provided-
(a) he has, at the time of filing such return made payment of the tax on the basis of the return or taka twelve
hundred, whichever is higher, and the assessment on the basis of such return shall not result in any refund;
595[ * * *]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 81
 596[ (b) the net accretion of his wealth, if he is not required to submit statement of assets and liabilities under
597[ clause (c) of sub-section (3) of section 75], along with his disclosed family expenses and taxes paid
during the year, shall not exceed the income disclosed for the year and the income or receipt, if any, exempted
from tax 598[ ; and
(c) such return contains twelve-digit Taxpayer's Identification Number (TIN).]]

Universal Self Assessment (Section-82BB)

602[ 82BB. (1) Where an assessee files a return of income mentioning twelve-digit Taxpayer's Identification
Number (TIN) in compliance with the conditions and within the time specified in section 75 and pays tax in
accordance with the provision of section 74, he shall be issued by the Deputy Commissioner of Taxes or any
other official authorised by him, an acknowledgment of receipt of the return and such acknowledgment shall
be deemed to be an order of assessment of the Deputy Commissioner of Taxes.
(2) The Deputy Commissioner of Taxes shall process the return filed under sub-section (1) in the following
manner, namely:-
(a) income shall be computed after making the adjustments in respect of any arithmetical error in the return or
any incorrect claim which is apparent from the existence of any information in the return or in any statement
or document filed therewith;
(b) tax and any other amount payable under this Ordinance shall be computed on the basis of the income
computed under clause (a); and
(c) the sum, payable by or refundable to the assesse, shall be determined after giving credit of the sum paid by
way of advance tax including the tax paid at source and the tax paid under this Ordinance.
(3) Where the process of return results in a difference in the amount of income, tax or other material figures
than the amount mentioned in the return filed under sub-section (1), the Deputy Commissioner of Taxes shall
serve a notice to the assessee-
(a) communicating him about the difference and enclosing with the notice a sheet of computation of income,
tax, refund or other related particulars that resulted from the process of return;
(b) giving him an opportunity to explain his position in writing within the time specified in the notice where
the process of return results in additional liability or in reduction of refund, as the case may be; and
(c) giving him an opportunity to-
(i) file an amended return, in the applicable cases, within the time specified in the notice, addressing the
difference mentioned in the notice; and
(ii) pay, within the time specified in the notice, the tax and any other amount that becomes payable as a result
of the process;
(4) Where a notice under sub-section (3) is served, the Deputy Commissioner of Taxes shall-
Omitted &
(a) send a letter of acceptance of amended return within Sixty ninety days where all of the following
Inserted F.A
2018
conditions are fulfilled-
(i) an amended return is filed in accordance with the provision of clause (c) of sub-section (3);
(ii) any tax or any other amount, payable under this Ordinance as a result of the process, has been paid on or
before the submission of the amended return; and
(iii) the difference mentioned in sub-section (3) has been duly resolved in the return;
(b) serve, after the expiry of the date of response of the assessee as mentioned in the notice under sub-section
(3), a notice of demand along with a sheet of computation of income, tax, refund or other related particulars
where any of the conditions mentioned in clause (a) is not fulfilled:
Omitted &
Provided that a notice of demand shall be served within Sixty Nine months from the date of serving notice
Inserted F.A
2018
under sub-section (3).
(5) Where, after filing the return under sub-section (1), the assessee finds that owing to any unintentional
mistake the tax or any other amount payable under this Ordinance has been paid short or computed short by
reasons of underreporting of income or overreporting of rebate, exemption or credit or for any other reasons,
he may file to the Deputy Commissioner of Taxes an amended return-
(a) attaching with the amended return a written statement mentioning the nature and the reason for the mistake;
(b) paying in full, on or before filing the amended return -

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 82
 (i) the tax and any other amount that was paid short or computed short; and
(ii) an interest at the rate of two percent (2%) per month on the amount mentioned in sub-clause (i);
and if the Deputy Commissioner of Taxes is satisfied that the amended return is filed in compliance with the
conditions mentioned in clause (a) and (b), he may allow the amended return:
Provided that no amended return shall be allowed-
(a) after the expiry of one hundred and eighty days from the date of filing the original return under sub-section
(1); or
(b) after the original return has been selected for audit under sub-section (7).
(6) No notice under sub-section (3) shall be served after the expiry of twelve months from the date of the
submission of return under sub-section (1) or amended return under sub-section (5), as the case may be.

(7) The Board or any authority subordinate to the Board, if so authorised by the Board in this behalf, may
select, in the manner to be determined by the Board, a number of returns filed under sub-section (1) or of
amended returns accepted under clause (a) of sub-section (4) or of amended returns allowed under sub-section
(5), and refer the same to the Deputy Commissioner of Taxes for the purpose of audit:
Provided that a return filed or an amended return accepted or allowed under this section shall not be selected
for audit where-
(a) such return or amended return shows at least fifteen percent (15%) higher total income than the total
income assessed in the immediately preceding assessment year; and
(b) such return or amended return-
(i) is accompanied by corroborative evidence in support of income exempted from tax;
(ii) is accompanied by a copy of bank statement or account statement, as the case may be, in support of any
sum or aggregate of sums of loan exceeding taka five lakh taken other than from a bank or financial institution;
(iii) does not show the receipt of gift during the year;
(iv) does not show any income which is subject to tax exemption or reduced tax rate under section 44; or
Inserted F.A
(v) does not show or result any refund. “; and”
2018
Inserted F.A
“(c) the assessee has complied with the provisions of sections 75A, 108 and 108A.”।
2018
(8) Where after conducting the audit the Deputy Commissioner of Taxes is satisfied that the affairs of the
assessee has not been duly reflected in the return or the amended return or in statements and documents
submitted therewith, he shall communicate the findings of the audit to the assessee and serve a notice
requiring him to file a revised return reflecting the findings of the audit, and pay tax and any other applicable
amount on the basis of the revised return on or before the filing of such revised return.
(9) Where a revised return is filed and the Deputy Commissioner of Taxes is satisfied that the findings of audit
has been duly reflected in the revised return and the tax and any other applicable amount have been fully paid
in compliance with the provision of sub-section (8), he may accept the revised return and issue a letter of
acceptance to the assessee.
(10) Where after the service of notice under sub-section (8) no revised return is filed or the revised return that
has been filed does not reflect the findings of the audit, or tax or other applicable amount has not been paid in
compliance with the provisions of sub-section (8), the Deputy Commissioner of Taxes shall proceed to make
assessment under section 83 or 84, whichever is applicable.
(11) In the case of a return submitted under sub-section (1), no question as to the source of initial capital of
the business or profession of a new assessee shall be raised, if the assessee-
(a) shows income which exceeds the tax exemption threshold and which is not less than twenty percent (20%)
of the initial capital invested in the business or profession;
(b) pays tax on such income at regular tax rate along with any other applicable amount on or before filing of
return; and
(c) mentions in writing that the return falls under this sub-section.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 83
(12) In the case of a return for which the provision of sub-section (11) applies, the minimum amount of capital
maintained in the business or profession at the end of the income year and four subsequent income years shall
be equal to the initial capital; andany amount of shortfall of the capital in any income year shall be deemed as
"income from business or profession" for that income year and shall be included in total income of the
assessee.
(13) For the purpose of this section-
(a) a return includes any statement required to be filed under section 80;
(b) “an incorrect claim which is apparent from the existence of any information in the return or in any
statement or document filed therewith” shall mean a claim, on the basis of an entry, in the return or in the
statement or document submitted with the return-
(i) of an item, which is inconsistent with another entry of the same, or some other item, in such return,
statement or document; or
(ii) in respect of a deduction, exemption, rebate or credit, where such deduction, exemption, rebate or credit
exceeds the specified statutory limit which may have been expressed as monetary amount, percentage, ratio or
fraction;
(c) “regular tax rate” means the rate of tax that would be applicable if the tax exemption or the reduced rate
were not granted;
(d) in calculating fifteen percent (15%) higher total income, the income from the sources that are common
between the assessment years for which the return under sub-section (1) has been filed and the immediately
preceding assessment year shall be considered.]

Minimum Tax (Section-82C)

603[ 82C. (1) Notwithstanding anything contained in any other provisions of this Ordinance, minimum tax
shall be payable by an assessee in accordance with the provisions of this section.
(2) Minimum tax on income on sources from which tax has been deducted or collected under certain sections
shall be the following-
(a) any tax deducted or collected at source under the provisions of sections mentioned in clause (b) shall be
the minimum tax on income from the source or sources for which tax has been deducted or collected;
(b) the tax referred to in clause (a) shall be the tax deducted or collected under sections 52, 52A, 52AAA,
52B, 52C, 52D, 52JJ, 52N, 52O, 52R, 53, 53AA, 53B, 53BB, 53BBB, 53BBBB, 53C, 53CCC, 53DDD 604[ ,
53E], 53EE, 53F, 53FF, 53G, 53GG, 53H, 53M, 53N and 55:
Provided that the tax deducted or collected from the following sources shall not be the minimum tax for the
purpose of this sub-section-
(i) tax collected under section 52 from the following persons-
a. a contractor of an oil company or a subcontractor to the contractor of an oil company as may be prescribed;
b. an oil marketing company and its dealer or agent excluding petrol pump station;
c. any company engaged in oil refinery;
d. any company engaged in gas transmission or gas distribution;
(ii) tax deducted under section 53 from import of goods by an industrial undertaking as raw materials for its
own consumption;
(iii) tax deducted under section 53F from a source other than the sources mentioned in clause (c) of sub-
section (1) and sub-section (2) of that section;
(c) for the sources of income for which minimum tax is applicable, books of accounts shall be maintained in
the regular manner in accordance with the provisions of section 35;
(d) income from any source, for which minimum tax is applicable under this sub-section, shall be determined
in regular manner and tax shall be calculated by using 605[ applicable rate] on such income. If the tax so
calculated is higher than the minimum tax under clause (a), the higher amount shall be payable on such
income:
Provided that income shall be determined and tax shall be calculated for certain sources in the manner as
specified in the following-

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 84
 Sources
Amount that will Rate or
Serial of income
be taken as amount of
No. as
income tax
mentione

( 1) (2) (3) (4)

section amount of as mentioned

1
52C compensation as in section 52C

amount of
section interest as as mentioned
2
52D mentioned in in section 52D
section 52D

amount of export
as mentioned
section cash subsidy as
3 in section
52DDD mentioned in
52DDD
section 53DDD

amount of
section
interest as as mentioned
4 53F(1)(c)
mentioned in in section 53F
and (2)
section 53F

as mentioned
deed value as
section in section 53H
5 mentioned in
53H and the rule
section 53H
made

(e) income or loss computed in accordance with clause (d) or the proviso of clause (d) shall not be set off with
loss or income, respectively, computed for any regular source.
(3) Where the assessee has income from regular source in addition to the income from source or sources for
which minimum tax is applicable under sub-section (2)-
(a) regular tax shall be calculated on the income from regular source;
(b) the tax liability of the assessee shall be the aggregate of the tax as determined under sub-section (2) and
the regular tax under clause (a).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 85
(4) Subject to the provisions of sub-section (5), minimum tax for a firm or a company shall be the following-
(a) every firm having gross receipts of more than taka fifty lakh or every company shall, irrespective of its
profits or loss in an assessment year, for any reason whatsoever, including the sustaining of a loss, the setting
off of a loss of earlier year or years or the claiming of allowances or deductions (including depreciation)
allowed under this Ordinance, be liable to pay minimum tax in respect of an assessment year at the following
rate-

Serial Rate of
Classes of assessee
No minimum tax

Manufacturer of cigarette, bidi,

1% of the
1 chewing tobacco, smokeless
gross receipts
tobacco or any other tobacco

0.75% of the
2 Mobile phone operator
gross receipts

0.60% of the
3 Any other cases
gross receipts:

Provided that such rate of tax shall be zero point one zero percent (0.10%) of such receipts for an industrial
undertaking engaged in manufacturing of goods for the first three income years since commencement of its
commercial production.
(b) where the assessee has an income from any source that is exempted from tax or is subject to a reduced tax
rate, the gross receipts from such source or sources shall be shown separately, and the minimum tax under this
sub-section shall be calculated in the following manner-
(i) minimum tax for receipts from sources that are subject to regular tax rate shall be calculated by applying
the rate mentioned in clause (a);
(ii) minimum tax for receipts from sources that enjoys tax exemption or reduced tax rate shall be calculated by
applying the rate mentioned in clause (a) as reduced in proportion to the exemption of tax or the reduction of
rate of tax;
(iii) minimum tax under this sub-section shall be the aggregate of the amounts calculated under sub-clauses (i)
and (ii).
Explanation.--For the purposes of this sub-section, 'gross receipts' means-
(i) all receipts derived from the sale of goods;
(ii) all fees or charges for rendering services or giving
benefits including commissions or discounts;
(iii) all receipts derived from any heads of income.
(5) Where the provisions of both sub-section (2) and sub-section (4) apply to an assessee, minimum tax
payable by the assessee shall be the higher of
(a) the minimum tax under sub-section (2); or
(b) the minimum tax under sub-section (4).
(6) Minimum tax under this section shall not be refunded, nor shall be adjusted against refund due for earlier
year or years or refund due for the assessment year from any source.
(7) Where any surcharge, additional interest, additional amount etc. is payable under provisions of this
Ordinance, it shall be payable in addition to the minimum tax.
(8) Where the regular tax calculated for any assessment year is higher than the minimum tax under this
section, regular tax shall be payable.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 86
 “(8A) Where tax has been mistakenly deducted and collected in excess or deficit of the due amount (i.e. the
Inserted F.A amount to be deducted or collected in accordance with the provision of Chapter VII), minimum tax under
2018 this section shall be computed based on the due amount of deduction or collection, and provisions of this
section shall apply accordingly.”।
(9) In this section-
(a) “regular source” means any source for which minimum tax is not applicable under sub-section (2);
(b) “regular tax” means the tax calculated on regular income using the regular manner;
(c) “ 606[ regular tax rate]” means the rate of tax, that would be applicable if the tax exemption or the reduced
rate were not granted.]

Spot assessment (Section-82D)

607[ 82D. Notwithstanding anything contained in this Ordinance, where an assessee, not being a company,
who has not previously been assessed under this Ordinance, carrying on any business or profession in any
shopping centre or commercial market or having a small establishment, the Deputy Commissioner of Taxes
may fix the tax payable by him in such manner and at such rate as may be prescribed and the receipt obtained
for payment of such tax shall be deemed to be an order of assessment under section 82.]

Assessment after hearing (Section-83)

608[ 83. (1) Where a return or revised return has been filed under Chapter VIII and the Deputy Commissioner
of Taxes is not satisfied without requiring the presence of the person who filed the return or the production of
evidence that the return is correct and complete, he shall serve on such person a notice requiring him, on a
date to be therein specified, to appear before the Deputy Commissioner of Taxes, or to produce or cause to be
produced before him or at his office, any evidence in support of the return.
(2) The Deputy Commissioner of Taxes shall, after hearing the person appearing, or considering the evidence
produced in pursuance of the notice under sub-section (1) and also considering such other evidence, if any, as
he may require on specified points, by an order in writing assess, within thirty days after the completion of the
hearing or consideration, as the case may be, the total income of the assessee and determine the sum payable
by him on the basis of such assessment, and communicate the order to the assessee within thirty days next
following.]

Assessment on the basis of report of a chartered accountant (Section-83AAA)

615[ 83AAA. (1) Where a return or revised return is filed under Chapter VIII by an assessee being a company
and the Board has reasonable cause to believe that the return or revised return is incorrect or incomplete, the
Board may appoint a registered chartered accountant to examine the accounts of that assessee.

(2) The chartered accountant appointed under sub-section (1) shall exercise the powers and functions of the
Deputy Commissioner of Taxes as referred to in section 79 and clauses (a), (b), (c), (d) and (e) of section 113.
(3) The chartered accountant, after examination of the accounts of that assessee, shall submit a report in
writing to the Board along with findings within a time as may be specified by the Board.
(4) On receipt of the report referred to in sub-section (3), the Board shall forthwith forward the report to the
concerned Deputy Commissioner of Taxes for consideration.
(5) On receipt of the report under sub-section (4), the Deputy Commissioner of Taxes shall serve a notice
upon the assessee under sub-section (1) of section 83.
(6) The Deputy Commissioner of Taxes shall, after hearing the person appearing and considering the
evidences produced including the findings stated in the report received under sub-section (5) and also
considering the other evidences, by an order in writing, assess within thirty days after the completion of
hearing or consideration, as the case may be, the total income of an assessee and shall determine the sum
payable by the assessee on the basis of such assessment, and communicate the said order to the assessee
within thirty days from the date of such order.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 87
 Best judgment assessment (Section-84)
616[ 84. (1) Where any person fails-
(a) to file the return required by a notice under section 77 and has not filed a return or revised return under
section 78; or
(b) to comply with the requirements of a notice under section 79 or 80; or
(c) to comply with the requirements of a notice under section 83(1);
the Deputy Commissioner of Taxes shall, by an order in writing, assess the total income of the assessee to the
best of his judgement and determine the sum payable by the assessee on the basis of such assessment; 617[
***], and communicate such order to the assessee within thirty days next following.

(2) Where in the opinion of the Board a best judgement assessment made by a Deputy Commissioner of Taxes
under sub-section (1) shows lack of proper evaluation of legal and factual aspects of the case which has
resulted in an arbitrary and injudicious assessment, the action leading to such assessment made by the said
Deputy Commissioner of Taxes shall be construed as misconduct.]
618[
84A. [Presumptive Assessment.-Omitted by section 5 of the Finance Act, 1997 (Act No. XV of 1997).]
Omitted]

Special provisions regarding assessment of firms (Section-85)

85. (1) Notwithstanding anything contained in this Ordinance, where the assessee is a firm and the total
income of the firm has been assessed under sections 82, 83, or 84, as the case may be,-
(b) in the case of 620[ a firm], the tax payable by the firm shall be determined on the basis of the total income
of the firm.
(2) Whenever any determination is made in accordance with the provisions of sub-section (1), the Deputy
Commissioner of Taxes shall, by an order in writing, notify to the firm-
(a) the amount of tax payable by it, if any;
(b) the amount of the total income on which the determination has been based; and
(c) the apportionment of the amount of 621[ income] between the several partners.

Assessment in case of change in the constitution of a firm (Section-86)

86. (1) Where, at the time of assessment of a firm, it is found that a charge has occurred in the constitution of
the firm, the assessment shall be made on the firm as constituted at the time of making the assessment :
Provided that-
(a) the income of the years shall, for the purpose of inclusion in the total income of the partners, be
apportioned between the partners who, in such income year, were entitled to receive the same; and
(b) when the tax assessed upon a partner cannot be recovered from him, it shall be recovered from the firm as
constituted at the time of making the assessment.
(2) For the purpose of this section, there is a change in the constitution of a firm-
(a) where all the partners continue with a change in their respective shares or in the shares of some of them, or
(b) where one or more persons who were partners continue to be so with a change by cessation of one or more
partners or addition of one or more new partners.

Assessment in case of constitution of new successor firm (Section-87)

87. Where, at the time of assessment on a firm, it is found that a new firm has been constituted to succeed the
firm to which the assessment relates and it cannot be covered by section 86 separate assessments shall be
made on the predecessor firm and the successor firm in accordance with the provisions of section 88 relating
to assessment in case of succession to business.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 88
Assessment in case of succession to business otherwise than on death (Section-88)
88. (1) Where, a person, carrying on any business or profession (in this section, referred to as predecessor),
has been succeeded therein otherwise than on death by another person (in this section, referred to as the
successor) continues to carry on that business or profession,-
(a) the predecessor shall be assessed, in respect of the income of the income year in which the succession took
place, for the period up to the date of succession, and
(b) the successor shall be assessed, in respect of the income of the income year, for the period after the date of
succession.
(2) Notwithstanding anything contained in sub-section (1), where the predecessor cannot be found, the
assessment of the income year in which the succession took place up to the date of succession and of the
income year or years preceding that year shall be made on the successor in the like manner and to the same
extent as it would have been made on the predecessor; and the provisions of this Ordinance shall, so far as
may be, apply accordingly.
(3) Where any sum payable under this section in respect of the income of a business or profession cannot be
recovered from the predecessor, the Deputy Commissioner of Taxes shall record a finding to that effect, and
thereafter the sum payable by the predecessor shall be payable by, and recoverable from, the successor who
shall be entitled to recover if from the predecessor.

Assessment in case of discontinued business (Section-89)

89. (1) Without prejudice to the provision of section 87, where any business or profession is discontinued in
any financial year, and assessment may be made in that year, notwithstanding anything contained in section
16, on the basis of the total income of the period between the end of the income year and the date of such
discontinuance in addition to the assessment, if any, made on the basis of the income year.
(2) Any person discontinuing any business or profession in any financial year shall give to the Deputy
Commissioner of Taxes a notice of such discontinuance within fifteen days thereof; and such notice shall be
accompanied by a return of total income in respect of the period between the end of the income year and the
date of such discontinuance and that financial year shall be deemed to be the assessment year in respect of the
income of the said period.
(3) Where, a person fails to give the notice required by sub-section (2), the Deputy Commissioner of Taxes
may direct that a sum shall be recovered from him by way of penalty not exceeding the amount of tax
subsequently assessed on him in respect of any income from the business or profession up to the date of its
discontinuance.
(4) Where an assessment is to be made under sub-section (1), the Deputy Commissioner of Taxes may serve-
(a) on the person whose income is to be assessed;
(b) in the case of a firm, on the person who was a partner of the firm at the time of discontinuance of the
business or profession; and
(c) in the case of a company, on the principal officer of the company;
a notice to furnish within such time, not being less than seven days, a return of his total income giving such
particulars and information as are required to be furnished with a return to be filed under section 75 along
with such other particulars, records and documents as may be specified in the notice.
(5) The provisions of this Ordinance shall, so far as may be, apply to a notice under sub-section (4) for the
purpose of assessment of tax as if it were a notice under section 77.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 89
 Assessment in case of partition of a Hindu undivided family (Section-90)
90. (1) A Hindu family hitherto assessed as a Hindu undivided family shall be deemed, for the purposes of this
Ordinance, to continue to be a Hindu undivided family except where, and in so far as, a finding of partition has been
given under this section in respect of that family.
(2) Where, at the time of an assessment of a Hindu undivided family, it is claimed by any member thereof that a
partition has taken place amongst the members of the family, the Deputy Commissioner of Taxes shall make an
enquiry thereinto after giving notice to all the members of the family.
(3) On the completion of the enquiry, the Deputy Commissioner of Taxes shall record a finding as to whether there
has been a partition of the joint family property, and, if there has been such a partition, the date on which it has taken
place.
(4) In the case of a finding under sub-section (3) that the partition of the undivided family took place after the expiry
of the income year, the total income of the income year of the undivided family shall be assessed as if no partition has
taken place; and each member or group of members of the family shall, in addition to any tax for which he or it may
be separately liable, be jointly and severally liable for the tax on the income of the family so assessed.

(5) In the case of finding under sub-section (3) that the partition of the undivided family took place during the
income year, the total income of the undivided family in respect of the period up to the date of partition shall be
assessed as if no partition had taken place; and each member or group of members of the family shall, in addition to
any tax for which he or it may be separately liable, by jointly and severally liable for the tax on the income of that
period as so assessed.

(6) Notwithstanding anything contained in this section, if the Deputy Commissioner of Taxes finds after completion
of the assessment of a Hindu undivided family that the family has already effected a partition, the tax shall be
recoverable from every person who was a member of the family before the partition; and every such person shall be
jointly and severally liable for tax on the income of the family in so assessed.
(7) For the purposes of this section, the several liability of any member or group of members of a Hindu undivided
family shall be computed according to the portion of the property of the undivided family allotted to him or it at the
partition.
(8) The provisions of this section shall, so far as may be, apply in relation to the levy and collection of any penalty,
interest, fine or other sum in respect of any period up to the date of the partition of a Hindu undivided family as they
apply in relation to levy and collection of tax in respect of any such period.

Assessment in case of persons leaving Bangladesh (Section-91)

91. (1) Where it appears to the Deputy Commissioner of Taxes that any person may leave Bangladesh during the current financial year or
shortly after its expiry and that he has no intention of returning, as assessment may be made in that year, notwithstanding anything
contained in section 16, on the basis of the total income of such person-

(a) if he has been previously assessed, for the period from the expiry of the last income year of which income has been assessed to the
probable date of his departure from Bangladesh; and

(b) if he has not been previously assessed, of the entire period of his stay in Bangladesh up to the probable date of his departure therefrom.

(2) Assessment under sub-section (1) shall be made-

(a) in respect of each completed income year included in the period referred to in sub-section (1), at the rate at which tax would have been
charged had it been fully assessed; and
(b) in respect of the period from the expiry of the last of the completed income years to the probable date of departure, at the rate in force
for the financial year in which such assessment is made and that financial year shall be deemed to be the assessment year in respect of the
income of the said period.

(3) For the purpose of making an assessment under this section, the Deputy Commissioner of Taxes may serve a notice upon the person
concerned requiring him to file, within such time, not being less than seven days, as may be specified in the notice,-

(a) a return in the same form and verified in the same manner as a return under section 75 setting forth, along with such other particulars as
may be required by the notice, his total income for each of the completed income years comprised in the relevant period referred to in sub-
section (1); and
(b) an estimate of his total income for the period from the expiry of the last of such completed income year to the probable date of his
departure from Bangladesh.
(4) All the provisions of this Ordinance shall, so far as may be, apply to the notice under sub-section (3) for purposes of assessment of tax
as if it were a notice under section 77.

(5) Nothing in this section shall be deemed to authorise a Deputy Commissioner of Taxes to assess any income which has escaped
assessment or has been under assessed or has been assessed at too low a rate or has been the subject of excessive relief under this
Ordinance but in respect of which he is debarred from issuing a notice under section 93.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 90
 Assessment in the case of income of a deceased person (Section-92)
92. (1) Where a person dies, his legal representative shall be liable to pay any tax or other sum payable under this
Ordinance which the deceased would have been liable to pay if he had not died, in the like manner and to the same
extent as the deceased; and the legal representative of the deceased shall, for the purposes of this Ordinance, be
deemed to be an assessee:
Provided that before deeming the legal representative of the deceased to be an assessee, a notice to that effect shall be
issued to him by the Deputy Commissioner of Taxes.
(2) For the purpose of making an assessment of the income of the deceased and recovery of tax,-

(a) any proceeding taken against the deceased before his death shall be deemed to have been taken against the legal
representative and may be continued from the stage at which it stood on the date of the death of the deceased; and
(b) any proceeding which could have been taken against the deceased, if he had not died, may be taken against the
legal representative;
and all the provisions of this Ordinance shall, so far as may be, apply accordingly.
(3) The liability of a legal representative under this Ordinance shall be limited to the extent to which the estate of the
deceased is capable of meeting the liability.
(4) For the purposes of this section and other provisions of this Ordinance in which the rights, intefrests and
liabilities of the deceased are involved, “legal representative” includes an executor, an administrator and any person
administering the estate of the deceased.

Tax, etc escaping payment (Section-93)

622[ 93. (1) If, based on the information from an audit, assessment or any other proceeding under this
Ordinance or from any other source, the Deputy Commissioner of Taxes has reason to believe that any sum
payable by an assessee under this Ordinance has escaped payment in any assessment year, the Deputy
Commissioner of Taxes may issue a notice in the form specified by the Board upon the assessee requiring him
to-
(a) file for the relevant assessment year, within the time as specified in the notice, a return of his income along
with the applicable statement and documents; and
(b) pay on or before the filing of the return the sum that has been escaped payment.
(2) The Deputy Commissioner of Taxes shall-
(a) send a letter of acceptance of the return where all of the following conditions are fulfilled-
(i) the return is filed within the time mentioned in the notice under sub-section (1) and in compliance with the
provisions of that sub-section;
(ii) the sum that escaped payment has been paid on or before the filing of the return; and
(iii) the issue for which the sum escaped payment has been duly addressed in the return;
(b) proceed to make assessment under section 83 or 84, as the case may be, where any of the conditions
mentioned in clause (a) is not fulfilled.
(3) The Deputy Commissioner of Taxes shall obtain the approval of the Inspecting Joint Commissioner in
writing before issuing a notice under sub-section (1) where-
(a) return for the relevant assessment year was filed in compliancewith the provision of sub-section (1) of
section 82BB; or
the assessment of the relevant assessment year is completed under any other provision of this Ordinance.
(4) A notice under sub-section (1) may be issued by the Deputy Commissioner of Taxes-
(a) at any time where, for the relevant assessment year, no return was filed and no assessment was made;
(b) within six years from the end of the relevant assessment year where, for the relevant assessment year, no
return was filed but assessment is completed;
(c) within five years from the end of the relevant assessment year in any other cases:
Provided that where the escape of payment as mentioned in sub-section (1) was due to the failure of assessee
in making full disclosure of his particulars in the return, statement or other particulars submitted therewith or
in assessment proceedings, the Commissioner may extend the time up to six years:
Provided further that in a case where a fresh assessment is made for any assessment year in pursuance of any
provision under this Ordinance, the period referred to in this sub-section shall commence from the end of the
year in which the fresh assessment is made.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 91
 (5) In computing the period of limitation for the purpose of making an assessment or taking any other
proceedings under this Ordinance, the period, if any, for which such assessment or other proceedings has been
stayed by any court, tribunal or any other authority, shall be excluded.
(6) Notwithstanding anything contained in sub-section (4), where an assessment or any order has been
annulled, set aside, cancelled or modified, the concerned income tax authority may start the proceedings from
the stage next preceding the stage at which such annulment, setting aside, cancellation or modification took
place, and nothing contained in this Ordinance shall render necessary the re-issue of any notice which has
already been issued or the re-furnishing or refiling of any return, statement or other particulars which has
already been furnished or filed, as the case may be.

(7) An assessment under sub-section (2) of an assessee who was already assessed for the relevant year shall be
confined to the issues that have been mentioned in the notice served under sub-section (1).
(8) The Deputy Commissioner of Taxes shall not be barred from taking proceedings under this section for an
assessment year on the grounds that the proceeding under sub-section (2) is earlier concluded in respect of
that assessment year.
(9) In this section-
(a) Any sum payable by an assessee under this Ordinance shall be deemed to have escaped payment if –
(i) the income or a part thereof has escaped assessment; or
(ii) the income has been understated; or
(iii) excessive loss, deduction, allowance or relief in the return has been claimed; or
(iv) the liability of tax or any other amount payable under this Ordinance has been shown or computed lower
by concealment or misreporting of any income or by concealment or misreporting of any assets, expenditure
or any other particulars in a statement submitted under section 80; or
(v) income chargeable to tax has been under-assessed, or income has been assessed at a lower than due tax
rate; or
(vi) income that is subject to tax has been made the subject of tax exemption; or
(vii) income has been made the subject of excessive relief, or excessive loss or depreciation allowance or any
other allowance under this Ordinance has been computed; or
(viii) a tax or an amount, payable under this Ordinance, has been computed or paid lower than due amount by
reason of lower base.
(b) “relevant assessment year” is the assessment year for which any sum payable by an assessee under this
Ordinance has escaped payment.]

Limitation for assessment (Section-94)

94. 623[ (1) Subject to the provisions of sub-sections (2) and (3), after the expiry of-
(a) two years from the end of the assessment year in which the income was first assessable if the assessment is
to be made as a result of audit under section 82BB;
(b) three years from the end of the relevant assessment year in which the income was first assessable if the
assessment is to be made under section 107C; or
(c) six months from the end of the assessment year in which the income was first assessable if the assessment
is to be made in a case other than the cases mentioned in clause (a) or (b);
no order of assessment under the provisions of this Chapter, in respect of any income, shall be made.
(2) An assessment under section 93 may be made within two years from the end of the year in which the
notice under sub-section (1) of section 93 was issued.]
(3) Notwithstanding anything contained in this section, limiting the time within which any action may be
taken, or any order or assessment may be made, order or assessment, as the case may be, to be made on the
assessee or any other person in consequence of, or to give effect to, any finding or direction contained in an
order under sections 120, 121, 624[ * * *] 156, 159, 161 or 162 or, in the case of a firm, an assessment to be
made on a partner of a firm in consequence of an assessment made on the firm, 625[ shall be made 626[
within thirty days] from the date on which the order was communicated] 627[ and communicate such revised
order to the assessee within thirty days next following] 628[ :
Omitted &
Provided that where an order of assessment has been set aside by any authority in that case the assessment
Inserted F.A
2018
shall be made within Forty five Sixty days from the date on which the order was communicated to him.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 92
 Explanation I.-Where by an order under 629[ sections 120, 121A, 156, 159, 161 or 162], any income is
excluded from the total income of the assessee for an assessment year, an assessment of such income for
another assessment year shall, for the purposes of this section, be deemed to be one made in consequence of,
or to give effect to, any finding or direction contained in the said order.
Explanation II.-Where by an order under 630[ sections 120, 121A, 156, 159, 161 or 162], any income is
excluded from the total income of one person and held to be the income of another person, an assessment of
such income of such other person, shall, for the purposes of this section, be deemed to be one made in
consequence of or to give effect to, any finding or direction contained in the said order.
[(4) where the Deputy Commissioner of Taxes fails to give effect to any finding or direction contained in an
order referred to in sub-section (3) within the period stipulated therein, such failure of the Deputy
Commissioner of Taxes shall be construed as misconduct.]

631[
94A. [Omitted by section 31 of the Finance Act, 2003 (Act No. XVII of 2003).]
Omitted]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 93
 CHAPTER X
LIABILITY IN SPECIAL CASES

Liability of representative in certain cases (Section-95)

95. (1) Every person who is a representative of another person in respect of any income for the purpose of this
section shall, in respect of such income,-
(a) be subject to the same duties, responsibilities and liabilities as if such income were received by, or
accruing to, or in favour of, him beneficially;
(b) be liable to assessment in his own name; and
(c) be deemed, subject to other provisions of this Chapter, to be the assessee for all purposes of this Ordinance.

(2) A person, who is assessed in pursuance of this section as a representative in respect of any income, shall
not, in respect of the same income, be assessed under any other provision of this Ordinance.
(3) Nothing in this section shall prevent either the direct assessment of the person for whom, or on whose
behalf or for whose benefit, the representative is entitled to receive any income or recovery from such person
of the tax payable in respect of such income.
(4) For the purposes of this section,-
(a) the guardian, manager or trustee, who receives or is entitled to receive any income for, or on behalf or for
the benefit, of any minor, lunatic or idiot, shall be the representative in respect of such income;

(b) the Administrator-General, the Official Trustee, or any receiver, manager or other person, however
designated, appointed by or under any order of a Court, who receives or is entitled to receive any income for,
or on behalf or for the benefit, of any other person shall be the representative in respect of such income;
(c) the trustee or trustees appointed under a trust declared by a duly executed instrument in writing, whether
testamentary or otherwise, including a legally valid deed of waqf, who receive or are entitled to receive any
income for, or on behalf or for the benefit of any person shall be the representative in respect of such income;
and
(d) a person who is treated under section 96 as an agent in relation to a non-resident, shall be the
representative in respect of such income of the non-resident as is deemed to accrue or arise in Bangladesh
under section 18.

Persons to be treated as agent (Section-96)

96. (1) For the purposes of this Ordinance, the following persons shall, subject to the provisions of sub-
sections (2) and (3) be treated as agent in relation to a non-resident, namely:-
(a) any person in Bangladesh-
(i) who is employed by, or on behalf of, the non-resident;
(ii) who has any business connection with the non-resident;
(iii) who holds, or controls the receipt or disposal of, any money belonging to the non-resident;
(iv) who is a trustee of the non-resident; or
(v) from or through whom the non-resident, is in receipt of any income, whether directly or indirectly;
(b) any person, whether a resident or non-resident, who has acquired, by means of transfer, a capital asset in
Bangladesh from a person residing outside Bangladesh; and
(c) any person who, for any other reasonable cause, is declared or treated as an agent of the non-resident.
(2) An independent broker in Bangladesh, who in respect of any transaction, does not deal directly with, or on
behalf of, a non-resident principal but deals with, or through, a non-resident broker, shall not be treated as an
agent in relation to a non-resident in respect of such transaction if-
(a) the transaction is carried on in the ordinary course of business through the non-resident broker; and
(b) the non-resident broker is carrying on such transaction in the ordinary course of business.
(3) No person shall be treated under this Ordinance as an agent in relation to a non-resident unless he has
been given by the Deputy Commissioner of Taxes an opportunity of being heard.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 94
 Right of representative to recover tax paid (Section-97)
97. (1) A representative who, on account of his liability under section 95, pays any sum, shall be entitled to
recover the sum so paid from the person on whose behalf it is paid, or to retain out of any moneys that may be
in his possession or may come to him in his possession or may come to him in his capacity as a representative,
an amount equivalent to the sum so paid.
(2) A representative, or any person who apprehends that he may be assessed as a representative, may retain,
out of any money payable to the person (hereinafter referred to as “the beneficiary”) on whose behalf he is
liable to tax under section 95, a sum not exceeding his estimated liability.
(3) In the event of any disagreement between the beneficiary and the representative or, as the case may be, the
person apprehensive of being assessed as representative, as to the amount to be retained under sub-section (2),
such representative or person may secure from the Deputy Commissioner of Taxes a certificate stating the
amount to be so retained pending the settlement of the liability and the certificate so obtained shall be the
warrant for retaining that amount.

Liability of firm or association for unrecoverable tax due from partners or members (Section-98)

98. (1) Where any tax payable by a partner of a firm or a member of an association of persons in respect of his
share of the income from the firm or association, as the case may be, cannot be recovered from him, the
Deputy Commissioner of Taxes shall notify the amount of the tax to the firm or association.
(2) Upon notification of the amount of tax under sub-section (1), the firm or association so notified shall,
notwithstanding anything contained in any other law for the time being in force, be liable to pay the said tax
and shall, for the purposes of recovery thereof, be deemed to be an assessee in respect of such tax; and the
provisions of this Ordinance shall apply accordingly.

Liability of partners, etc, for discontinued business of a firm, etc (Section-99)

99. (1) Where any business or profession carried on by a firm or an association of persons has been
discontinued, or where a firm or an association of persons is dissolved, assessment of the total income of the
firm or association may be made as if no such discontinuance or dissolution had taken place; and all the
provisions of this Ordinance shall, so far as may be, apply accordingly.
(2) Where an assessment is made under sub-section (1) in respect of a firm or an association of persons, every
person who was a partner of the firm or member of the association at the time of discontinuance of business,
or as the case may be, dissolution of the firm or association, and the legal representative of any such person
who is deceased, shall be jointly and severally liable for the amount of tax found payable by the firm or
association upon such assessment and shall, for the purpose of recovery of such tax, including penalty and
other sum payable, be deemed to be an assessee; and the provisions of this Ordinance shall apply accordingly.

Liability of directors for unrecoverable tax of private companies (Section-100)

100. (1) Where any private company is wound up and any tax assessed on the company, whether before, or in
the course of, or after its liquidation, in respect of any income of any income year cannot be recovered, every
person who was, at any time during the relevant income year, a director of that company, shall,
notwithstanding anything contained in 632[ the Companies Act, 1913 (VII of 1913) or ক োম্পোনী আইন,
১৯৯৪(১৯৯৪ সননর ১৮ নং আইন)], be jointly and severally liable to pay the said tax and shall, for the
purposes of recovery thereof, be deemed to be an assessee in respect of such tax; and the provisions of this
Ordinance shall apply accordingly.
(2) Notwithstanding the provisions of sub-section (1), the liability of any person thereunder in respect of the
income of a private company shall cease if he proves to the Deputy Commissioner of Taxes that non-recovery
of tax from the company cannot be attributed to any gross neglect, misfeasance or breach of any duty on his
part in relation to affairs of the company.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 95
 Liability of liquidator for tax of private companies under liquidation (Section-101)
101. (1) A liquidator of a private company which is wound up, whether under the orders of a court or
otherwise, shall, within thirty days after he has become such liquidator, give notice of his appointment as such
to the Deputy Commissioner of Taxes having jurisdiction to assess the company.
(2) The Deputy Commissioner of Taxes shall, after making such enquiries or, calling for such information as
he may consider necessary, notify to the liquidator, within three months of the date of receipt of the notice
under sub-section (1) the amount which, in his opinion, would be sufficient to provide for any tax which is
then, or is likely thereafter to become, payable by the company.
(3) On being notified under sub-section (2), the liquidator shall set aside an amount equal to the amount so
notified and shall not, before he sets aside such amount, part with any of the assets, of the company except for
the purpose of payment of tax payable by the company or for making payment to secure such creditors as are
entitled under the law to priority of payment over the debts due to the Government on the date of liquidation.
(4) The liquidator shall be personally liable for payment of the tax on behalf of the company to the extent of
the amount notified, if any, under sub-section (2), if he-
(a) fails to give notice as required by sub-section (1); or
(b) contravenes the provisions of sub-section (3).
(5) Where there are more liquidators than one, the obligations and liabilities of a liquidator under this section
shall attach to all the liquidators jointly and severally.
(6) This section shall have effect notwithstanding anything to the contrary contained in any other law for the
time being in force.
Explanation.-In this section, “liquidator” includes any person who has been appointed to be the receiver of the
assets of the company under liquidation.

Liability to tax in case of shipping business of non-residents (Section-102)

633[ 102. (1) Notwithstanding anything contained in this Ordinance, where a non-resident carries on the
business of operation of ships as the owner or charterer thereof (hereinafter in this section referred to as the
principal) tax shall be levied and collected in respect of such business in accordance with the provisions of
this section.
(2) Before the departure from any port in Bangladesh of any ship, the master of the ship shall prepare and
furnish to the Deputy Commissioner of Taxes a return showing-
(a) the amount paid or payable whether in or out of Bangladesh to the principal, or to any person on his
behalf, on account of the carriage of passengers, livestock, mail or goods shipped at the port since the last
arrival of the ship; and
Omitted &
(b) the amount received, or deemed to be received in Bangladesh by, or on behalf of, the principal on account
Inserted F.A
2018
of the carriage of passengers, livestock, mail or goods at any port “ shipped at any port” outside Bangladesh.
(3) On receipt of the return, the Deputy Commissioner of Taxes shall determine the aggregate of the amounts
referred to in sub-section (2) and, for this purpose, may call for such particulars, accounts or documents, as he
may require and the aggregate of the said amounts so determined shall be deemed to be income received in
Bangladesh by the principal from the said business chargeable to tax under this Ordinance under the head
“Income from business or profession” and tax thereon shall be charged at the rate of eight per cent of such
income.
(4) Where the Deputy Commissioner of Taxes is satisfied that it is not possible for the master of the ship or
the principal to furnish the return required under sub-section (2) before the departure of the ship from the port
and the principal has made satisfactory arrangements for the filing of the return and payment of the tax by any
other person on his behalf, the Deputy Commissioner of Taxes may, if the return is filed within thirty days of
the departure of the ship, deem the filing of the return by the person so authorised by the principal as
sufficient compliance with sub-section (2) 634[ :
Provided that where any charge mentioned in sub-section (8) is accrued after the expiry of said thirty days, the
other person mentioned in this sub-section shall file a supplementary return in respect of such charge and pay
tax thereon within next thirty days from the end of the month in which the charge has accrued.]
(5) No port clearance shall be granted to the ship until the 635[ Commissioner of Customs], or any other
officer duly authorised to grant the same, is satisfied that the tax payable under sub-section (3) has been duly
paid or that satisfactory arrangements have been made for the payment thereof.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 96
 (6) Nothing contained in this Ordinance shall be so construed as to allow any expense against the aggregate
amount of receipts as determined under sub-section (3).
(7) The tax paid under this section shall be deemed to be the final discharge of the tax liability of the assessee
under this Ordinance, and the assessee shall not be required to file the return of total income under section 75
nor shall he be entitled to claim any refund or adjustment on the basis of such return.]

636[ (8) For the purpose of this section, the amount referred to in sub-section (2) shall include the amount
paid or payable by way of demurrage charge or handling charge or any other amount of similar nature.]

637[ 103. [Adjustment of liability to tax in case of shipping.- Omitted by section 12 of অথ আইন,
ি ১৯৮৯ (১৯৮৯
Omitted] সননর ৩৬ নং আইন)

Liability to tax in case of air transport business of non-residents (Section-103A)

638[ 103A. (1) Notwithstanding anything contained in this Ordinance, where a non-resident person carries on
the business of operation of aircraft, as the owner or charterer thereof (hereinafter in this section referred to as
the principal), and any aircraft owned or chartered by him calls on any airport in Bangladesh, the aggregate of
the receipts arising from the carriage of passengers, livestock, mail or goods loaded at the said airport into that
aircraft shall be deemed to be income received in Bangladesh by the principal from the said business
chargeable to tax under the head “Income from business or profession” and tax thereon shall be charged at the
rate of three per cent of such income.

(2) The principal or an agent authorised by him in this behalf shall prepare and furnish to the Deputy
Commissioner of Taxes, within forty-five days from the last day of each quarter of every financial year, that is
to say, the thirtieth day of September, the thirty-first day of December, the thirty-first day of March and the
thirtieth day of June, respectively, a return in respect of each quarter as aforesaid showing-

(a) the amount paid or payable whether in or out of Bangladesh to the principal, or to any person on his
behalf, on account of the carriage of passengers, livestock, mail or goods loaded at the said airport; and

(b) the amount received, or deemed to be received, in Bangladesh by, or on behalf of, the principal on account
of the carriage of passengers, livestock, mail or goods at any airport outside Bangladesh.
(3) On receipt of the return, the Deputy Commissioner of Taxes may, after calling for such particulars,
accounts or documents, as he may require, determine the aggregate of the amounts referred to in sub-section
(2) and charge tax as laid down in sub-section (1).
(4) Where the principal fails to pay the tax payable under sub-section (1), for more than three months, the
Commissioner of Taxes may issue to the authority by whom clearance may be granted to that aircraft a
certificate containing the name of the principal and the amount of tax payable by him; and on receipt of such
certificate, the said authority shall refuse clearance from any airport in Bangladesh to any aircraft owned or
chartered by such person until the tax payable has been paid.
(5) Nothing contained in this Ordinance shall be so construed as to allow any expense against the aggregate
amount of receipts as determined under sub-section (3).
(6) The tax paid under this section shall be deemed to be the final discharge of the tax liability of the assessee
under this Ordinance, and the assessee shall not be required to file the return of total income under section 75
nor shall he be entitled to claim any refund or adjustment on the basis of such return.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 97
 CHAPTER XI
SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX

Avoidance of tax through transactions with non-residents (Section-104)

104. Where any business is carried on between a resident and a non-resident and it appears to the Deputy
Commissioner of Taxes that, owing to the close connection between them, the course of business is so
arranged that the business transacted between them produces to the resident either no profits or profits less
than the ordinary profits which might be expected to yield in that business, the Deputy Commissioner of
Taxes shall determine the amount of income which may reasonably be considered to have accrued to the
resident from such business and include such amount in the total income of the resident.

Avoidance of tax through transfer of assets (Section-105)

105. (1) Any income which becomes payable to a non-resident by virtue, or in consequence, of any transfer of
assets, whether alone or in conjunction with associated operations, shall be deemed to be the income of the
person who-
(a) has acquired, by means of such transfer or associated operations, any right by virtue, or in consequence, of
which he has power to enjoy, whether forthwith or in future, the income which becomes so payable to the non-
resident, or
(b) has received or is entitled to receive at any time, for reasons attributable to such transactions or associated
operations, any sum paid or payable by way of loan or repayment of loan or any other sum, not being a sum
paid or payable as income or for full consideration of money or money's worth.
(2) The income which becomes payable to a non-resident and is deemed under sub-section (1), to be the
income of the person referred to therein shall be so deemed for all purposes of this Ordinance, whether such
income would or would not have been chargeable to tax apart from the provisions of this section.
(3) The provisions of this section shall not operate if it is shown to the satisfaction of the Deputy
Commissioner of Taxes-
(a) that neither the transfer nor any associated operation had for its purpose, or for one of its purposes, the
avoidance of liability to taxation; or
(b) that the transfer and all associated operations were bona fide commercial transaction and were not
designed for the purpose of avoiding liability to taxation.
(4) Where any person has been charged to tax on any income which is deemed under sub-section (1) to be his
income, that income shall not again be deemed to form part of his income for the purpose of this Ordinance if
it is subsequently received by him whether as income or in any other form.
(5) A person shall, for the purposes of this section, be deemed to have power to enjoy the income payable to a
non-resident if-
(a) such income is in fact so dealt with as to be calculated to ensure at any time for the benefit of such person
in any form; or
(b) the receipt or accrual of such income operates to increase the value of any assets held by such person or
for his benefit; or
(c) such person receives or is entitled to receive at any time any benefit provided or to be provided-
(i) out of such income; or
(ii) out of moneys which are or will be, available for the purpose by reason of the effect or successive effects
of associated operations on such income and on any assets representing the income; or
(d) such person has, by means of the exercise of any power of appointment, revocation or otherwise, power to
obtain for himself, with or without the consent of any other person, the beneficial enjoyment of such income;
or
(e) such person is able to control, directly or indirectly, the application of such income, in any manner
whatsoever.
(6) In determining whether a person has power to enjoy income, regard shall be had to the substantial result
and effect of the transfer and any associated operations, and to all benefits which may at any time accrue to
such person as a result of the transfer and associated operations irrespective of the nature or form of the
benefit.
Explanation.-For the purposes of this section,-

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 98
(a) “assets” includes property or rights of any kind and “transfer”, in relation to assets being rights, includes
creation of those rights;
(b) “associated operation”, in relation to any transfer, means as operation of any kind effected by any person
in relation to-
(i) any of the assets transferred; or
(ii) any income arising from such assets; or
(iii) any assets representing, directly or indirectly, any of the assets transferred, or the accumulation of the
income arising from such assets;
(c) “benefit” includes a payment of any kind;
(d) references to assets representing any assets transferred, or any income or accumulation of income arising
therefrom, includes references to shares in or obligation of any company to which, or the obligation of any
other person to whom, any such assets or that income or accumulation of income is or has been transferred;
and
(e) any body corporate incorporated outside Bangladesh shall be treated as if it were a non-resident.

Avoidance of tax by transactions in securities (Section-106)

106. (1) Where the owner of any securities sells or transfers those securities and buys them back or reacquires
them, or buys or acquires similar securities, and the result of the transactions is that any interest becoming
payable in respect of the original securities sold or transferred by the owner is not receivable by the owner, the
interest payable as aforesaid shall be deemed, for all purposes of this Ordinance, to be the income of such
owner and not of any other person, whether the interest payable as aforesaid would or would not have been
chargeable to tax apart from the provisions of this sub-section.
(2) Where any person has had for any period during an income year any beneficial interest in any securities
and the result of any transactions within that year relating to such securities or the income thereof is that no
income is received by him, or that the income received by him is less than the sum which the income would
have amounted to had the income from such securities accrued from day to day, and been apportioned to the
said period, then the income from such securities for the said period shall be deemed to be the income of such
person.
(3) Where, any person carrying on a business which consists wholly or partly in dealing in securities buys or
acquires any securities from any other person and either sells back or re-transfers those securities, or sells or
transfers similar securities, to such other person, and the result of the transactions is that the interest becoming
payable in respect of the securities bought or acquired by him is receivable by him but is not deemed to be his
income by reason of the provisions of sub-section (1), no account shall be taken of the transactions in
computing for any of the purposes of this Ordinance any income arising from, or loss sustained, in the
business.
(4) The Deputy Commissioner of Taxes may, by notice in writing, require any person to furnish him, within
such time, not being less than twenty-eight days, as may be specified in the notice, such particulars in respect
of all securities of which such person was the owner, or in which he had beneficial interest at any time during
the period specified in the notice, as the Deputy Commissioner of Taxes may consider necessary for the
purpose of ascertaining whether tax has been borne in respect of the interest on all those securities and also
for other purposes of this section.
Explanation.-For the purposes of this section,-
(a) “interest” includes dividend;
(b) “securities” includes stocks and shares; and
(c) securities shall be deemed to be similar if they entitle their holders to the same right against the same
persons as to capital and interest and the same remedies for the enforcement of these rights, notwithstanding
any difference in the total nominal amounts of the respective securities or in the form in which they are held or
in the manner in which they can be transferred.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 99
 Tax clearance certificate required for persons leaving Bangladesh (Section-107)
107. (1) Subject to such exceptions as the Board may make in this behalf, a person who is not domiciled in
Bangladesh, or a person who being domiciled in Bangladesh at the time of his departure is not, in the opinion
of an income tax authority likely to return to Bangladesh, shall not leave Bangladesh without obtaining from
the Deputy Commissioner of Taxes authorised in this behalf by the Board:-
(a) a tax clearance certificate, or
(b) if he has the intention of returning to Bangladesh, an exemption certificate which shall be issued only if
the Deputy Commissioner of Taxes is satisfied that such person has such intention; and such exemption
certificate may be either for a single journey or for all journeys within the period specified in the certificate.
(2) The owner or charterer of any ship or aircraft, who issue any authority to any person referred to in sub-
section (1) for travel by such ship or aircraft from any place in Bangladesh to any place outside Bangladesh
unless such person has a certificate required by that sub-section, shall-
(a) be liable to pay the amount of tax, if any, which has or may become due and payable by such person and
also to a penalty which may extend to two thousand taka; and
(b) be deemed, for the purposes of recovery of such tax and penalty, to be an assessee in default, and all the
provisions of this Ordinance shall apply accordingly.
Explanation.-For the purposes of this section,-
(a) “exemption certificate”, in relation to any person, means a certificate to the effect that such person is
exempt from the requirement of having a tax clearance certificate for the purpose of the journey or journeys
specified therein;
(b) “owner” or “charterer” includes any representative, agent or employee who may be empowered by the
owner or charterer of a ship or aircraft to issue an authority to travel by the ship or aircraft; and
(c) “Tax clearance certificate”, in relation to a person, means a certificate to the effect that such person has no
liability under this Ordinance, the Income-tax Act, 1922 (XI of 1922), 639[ the Gift-tax Act, 1963 (XIV of
1963) or দোন র আইন, ১৯৯০ (১৯৯০ সননর ৪৪ নং আইন)], or the Wealth-tax Act, 1963 (XV of 1963), or
that satisfactory arrangements have been made for the payment of all or any of such taxes which are or may
become payable by such person.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 100
 CHAPTER-XIA
TRANSFER PRICING

Definitions (Section-107A)
107A. In this Chapter, unless there is anything repugnant in the subject or context, -
(1) "arm’s length price" means a price in a transaction, the conditions (e.g. price, margin or profit split) of
which do not differ from the conditions that would have prevailed in a comparable uncontrolled transaction
between independent entities carried out under comparable circumstances;
(2) “associated enterprise”, in relation to another enterprise, means an enterprise which, at any time during the
income year, has the following relationship with the other enterprise-
(a) one enterprise participates, directly or indirectly, or through one or more intermediaries, in the
management or control or capital of the other enterprise; or
(b) the same person or persons participate, directly or indirectly, or through one or more intermediaries, in the
management or control or capital, of both enterprises; or
(c) one enterprise holds, directly or indirectly, shares carrying more than twenty five percent of the voting
power in the other enterprise; or
(d) the same person or persons controls shares carrying more than twenty five percent of the voting power in
both enterprises; or
(e) the cumulative amount of borrowings of one enterprise from the other enterprise constitutes more than
fifty percent of the book value of the total assets of that other enterprise; or
(f) the cumulative amount of guarantees provided by one enterprise in favour of the other enterprise
constitutes more than ten percent of the book value of the total borrowings of the other enterprise; or
(g) more than half of the board of directors or members of the governing board of one enterprise are
appointed by the other enterprise; or
(h) any executive director or executive member of the governing board of one enterprise is appointed by, or is
in common with the other enterprise; or
(i) the same person or persons appoint more than half of the board of directors or members in both
enterprises; or
(j) the same person or persons appoint any executive director or executive member in both enterprises; or
(k) one enterprise has the practical ability to control the decision of the other enterprise; or
(l) the two enterprises are bonded by such relationship of mutual interest as may be prescribed;
(3) “enterprise” means a person or a venture of any nature (including a permanent establishment of such
person or venture);
(4) "independent enterprise" means an enterprise that is not an associated enterprise;
(5) "international transaction" means a transaction between associated enterprises, either or both of whom are
non-residents, in the nature of purchase, sale or lease of tangible or intangible property, or provision of
services, or lending or borrowing money, or any other transaction having a bearing on the profits, income,
losses, assets, financial position or economic value of such enterprises, and includes-
(a) a mutual agreement or arrangement between two or more associated enterprises for the allocation or
apportionment of, or any contribution to, any cost or expense incurred or to be incurred in connection with a
benefit, service or facility provided or to be provided to any one or more of such enterprises;
(b) a transaction entered into by an enterprise with a person other than an associated enterprise, if there exists
a prior agreement in relation to the relevant transaction between such other person and the associated
enterprise, or the terms of the relevant transaction are determined in substance between such other person and
the associated enterprise;
(6) “permanent establishment” includes a place of management, a branch, an agency, an office, a
Omitted F.A warehouse, a factory, a workshop, a mine, an oil or gas well, a quarry or any other place of extraction of
2018 natural resources, a firm or plantation, or any other fixed place through which the business of the enterprise
is wholly or partly carried on;
(7) "property" includes goods, articles, things or items, patent, invention, formula, process, design, pattern,
know-how, copyright, trademark, trade name, brand name, literary, musical, or artistic composition, franchise,
license or contract, method, program, software, database, system, procedure, campaign, survey, study,
forecast, estimate, customer list, technical data, any aspects of advertising and marketing, any item which has
substantial value, or any other intangible property;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 101
 (8) "record" includes electronically held information, documents and records;
(9) "Transfer Pricing Officer" means any income tax authority authorised by the Board to perform the function
of a Transfer Pricing Officer;
(10) "transaction" includes an arrangement, understanding or action between two or more parties, whether or
not such arrangement, understanding or action is formal or in writing; or whether or not it is intended to be
enforceable by legal proceeding;
(11) "uncontrolled transaction" means a transaction undertaken between enterprises not being the associated
enterprises.

Determination of income from international transaction having regard to arm’s length price (Section-
107B)
107B. Notwithstanding anything contained in Chapter XI of this Ordinance, the amount of any income, or
expenditure, arising from an international transaction shall be determined having regard to the arm’s length
price.

Computation of arm’s length price (Section-107C)

107C.(1) The arm’s length price in relation to an international transaction shall be determined by applying the
most appropriate method or methods selected from the following methods based on the nature of transaction,
the availability of reliable information, functions performed, assets employed, risks assumed or such other
factors as may be prescribed, namely:—
(a) comparable uncontrolled price method;
(b) resale price method;
(c) cost plus method;
(d) profit split method;
(e) transactional net margin method;
(f) any other method where it can be demonstrated that-
(i) none of the methods mentioned in clause (a) to (e) can be reasonably applied to determine the arm's length
price for the international transaction; and
(ii) such other method yields a result consistent with the arm's length price.
(2) The most appropriate method referred to in sub-section (1) shall be applied for determination of arm’s
length price in the manner as may be prescribed:
Provided that the arm’s length price determined under this section shall not result in total income lower than
the total income that would have been resulted if the price at which international transaction has actually been
undertaken were taken as the price charged or paid in the said international transaction.
(3) Where in the course of any assessment under Chapter IX of this Ordinance, the Deputy Commissioner of
Taxes is of the opinion that—
(a) the price charged or paid in an international transaction has not been determined by the assessee in
accordance with sub-sections (1) and (2); or
(b) the assessee has failed to maintain the information, documents or records in accordance with the
provisions of section 107E; or
(c) the information or data based on which the arm's length price was computed by the assessee is not reliable
or correct;
the Deputy Commissioner of Taxes may determine the arm’s length price in relation to the said international
transaction in accordance with provisions of sub-sections (1) and (2) on the basis of information or documents
or other evidence available to him.
(4) In determining the arm’s length price under sub-section (3), the Deputy Commissioner of Taxes shall give
an opportunity to the assessee by serving a notice calling upon him to show cause, on a date and time to be
specified in the notice, why the arm’s length price should not be so determined on the basis of information or
documents or other evidence available to the Deputy Commissioner of Taxes.
(5) Where an arm’s length price is determined under sub-section (3) of this section or under sub-section (4) of
section 107D, the Deputy Commissioner of Taxes shall, by an order in writing, proceed to compute the total
income of the assessee having regard to the arm’s length price so determined.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 102
 Reference to Transfer Pricing Officer (Section-107D)
107D. (1) Notwithstanding anything contained in section 107C of this Ordinance,-
(a) the Deputy Commissioner of Taxes, with prior approval of the Board, may refer the determination of the
arm’s length price under section 107C to the Transfer Pricing Officer;
(b) the Transfer Pricing Officer, with prior approval of the Board, may proceed to determine the arm’s length
price in relation to any international transaction.
(2) Where a reference is made or any proceedings have been initiated under sub-section (1), the Transfer
Pricing Officer shall serve a notice on the assessee requiring him to produce or cause to be produced on a date
to be specified therein, any evidence on which the assessee may rely in support of his computation of the
arm’s length price in relation to the international transaction in question.
(3) The Transfer Pricing Officer shall, after considering the evidence produced before him or available to him
including the evidence as he may require on any specified points from the assessee or from any other person,
and after taking into account all relevant materials which he has gathered shall, by order in writing, determine
the arm’s length price in relation to the international transaction in accordance with section 107C of this
Ordinance and send a copy of his order to the Deputy Commissioner of Taxes.
(4) The Deputy Commissioner of Taxes, upon receipt of the order under sub-section (3), shall proceed to
compute the total income of the assessee in conformity with the arm’s length price so determined by the
Transfer Pricing Officer.
(5) The Transfer Pricing Officer may rectify any order passed by him under sub-section (3) so as to correct
any mistake apparent from the record either of his own motion or on the mistake having been brought to his
notice by the assessee or any other income tax authority, and the provisions of section 173 of this Ordinance
shall, so far as may be, apply accordingly.
(6) Where any rectification is made under sub-section (5), the Transfer Pricing Officer shall send a copy of his
order to the Deputy Commissioner of Taxes who shall thereafter proceed to amend the order of assessment in
conformity with such order of the Transfer Pricing Officer.

Maintenance and keeping of information, documents and records (Section-107E)

107E.(1) Every person who has entered into an international transaction shall keep and maintain such
information, documents and records as may be prescribed.
(2) Without prejudice to the provisions of sub-section (1), the Board may prescribe the period for which the
information, documents and records shall be kept and maintained.
(3) The Deputy Commissioner of Taxes may, by notice in writing, require any person to furnish any
information, documents and records as prescribed under sub-section (1) within the period as may be specified
in the notice.

Statement of international transactions to be submitted (Section-107EE)

641[ 107EE. Every person who has entered into an international transaction shall furnish, along with the
return of income, a statement of international transactions in the form and manner as may be prescribed.]

Report from an accountant to be furnished (Section-107F)

642[ 107F. The Deputy Comissioner of Taxes may, by notice in writing, require that a person who has entered
into international transaction or transactions the aggregate value of which, as recorded in the books of
accounts, exceeds three crore taka during an income year shall furnish within the period as may be specified in
the notice and in the form and manner as may be prescribed, a report from a Chartered Accountant or a Cost
and Management Accountant regarding all or of a part of the information, documents and records furnished
under section 107E.]

Penalty for failure to keep, maintain or furnish information, documents or records to the Deputy
Commissioner of Taxes (Section-107G)
107G. Where any person fails to keep, maintain or furnish any information or documents or records as
required by section 107E of this Ordinance, without prejudice to the provisions of Chapter XV of this
Ordinance, the Deputy Commissioner of Taxes may impose upon such person a penalty not exceeding one
percent of the value of each international transaction entered into by such person.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 103
 Penalty for failure to comply with the notice or requisition under section 107H
107H. Where any person fails to comply with the notice or requisition under section 107C of this Ordinance,
the Deputy Commissioner of Taxes may impose upon such person a penalty not exceeding one percent of the
value of each international transaction entered into by such person.

Penalty for failure to comply with the provision of section 107HH

643[ 107HH. Where any person fails to comply with the provision of section 107EE of this Ordinance, the
Deputy Commissioner of Taxes may impose upon such person a penalty not exceeding two per cent (2%) of
the value of each international transaction entered into by such person.]

Penalty for failure to furnish report under section 107I

107I. Where any person fails to furnish a report 644[ ***] as required by section 107F of this Ordinance, the
Deputy Commissioner of Taxes may impose upon such person a penalty of a sum not exceeding three lakh
taka.

Applicability of this Chapter (Section-107J)

107J. The provisions of this Chapter shall come into force from the date specified by the Board through
notification in the official Gazette.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 104
 CHAPTER XII
REQUIREMENT OF FURNISHING CERTAIN INFORMATION

Information regarding payment of salary (Section-108)

108. Every person responsible for making any payment constituting income classifiable under the head
“Salaries” not being payment made by the Government, and the prescribed officer in cases where such
payments are made by the Government, shall, before the first day of September each year, furnish to the
Deputy Commissioner of Taxes, a statement prepared in the prescribed form and verified in the prescribed
manner so as to give the following information, namely:-
(a) the name and address of every person to whom such payment has been made, or was due, during the
preceding financial year if the payment exceeds such amount as may be prescribed;
(b) the amount of payment so made, or due;
(c) the amount deducted as tax from such payment; and
(d) such other particulars as may be prescribed :
Provided that the Deputy Commissioner of Taxes may extend the date for the delivery of the statement.
“108A. Information regarding filing of return by employees.- (1) Every employee shall furnish the following
information to the employer by the fifteenth day of April each year-
(i) Taxpayer’s Identification Number;
(ii) Date of filing of the return of income; and
(iii) The serial number provided by the income tax authority upon filing of the return of income.

Inserted F.A (2) Any person responsible for making any payment which is an income of the payee classifiable under the
2018 head "Salaries", shall, by the thirtieth day of April of each year, furnish to such income tax authority and in
such manner as may be prescribed, a statement containing the following information regarding the payee:-
(i) The name, designation and the Taxpayer’s Identification Number;
(ii) Date of filing of the return of income;
(iii) The serial number provided by the income tax authority upon filing of the return;
(3) Nothing in this section shall apply to a payment made by the Government.”

Information regarding Payment of interest (Section-109)

109. Every person responsible for making any payment of interest constituting income not classifiable under
the head “Interest on securities” shall, if such payment exceeds 645[ fifteen thousand taka], before the first
day of September each year, furnish to a prescribed officer a statement prepared in the prescribed form and
verified in the prescribed manner so as to give the following information, namely:-
(a) the name and address of every person to whom such payment has been made, or was due, during the
preceding financial year;
(b) the amount of payment so made or due; and
(c) such other particulars as may be prescribed.

Information regarding payment of dividend (Section-110)

110. The principal officer of every company shall, before the first day of September each year, furnish to the
prescribed officer a statement prepared in the prescribed form and verified in the prescribed manner, so as to
give the following information, namely:-
(a) the name and address of every shareholder, as entered in the register of shareholders, to whom a dividend
or the aggregate of dividends has been paid or distributed during the preceding financial year if such payment
exceeds such amount as may be prescribed;
(b) the amount of dividend or dividends so paid or distributed; and
(c) such other particulars as may be prescribed.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 105
 CHAPTER XIII
[REGISTRATION OF FIRMS-Omitted]

646[ Omitted] 111. [Registration of firms.- Omitted by section 6 of the Finance Act, 1995 (Act No. XII of 1995).]

CHAPTER XIV
POWERS OF INCOME TAX AUTHORITIES

Powers under this Chapter not to prejudice other powers (Section-112)

112. The powers exercisable by income tax authorities under this Chapter shall not prejudice, unless otherwise
provided in the provision thereof, the powers exercisable under the other provisions of this Ordinance.

Power to call for information (Section-113)

113. The Deputy Commissioner of Taxes, the Inspecting Joint Commissioner, 647[ the Commissioner, the
Director General, Central Intelligence Cell,] or any other officer authorised in this behalf by the
Commissioner or the Board may, for the purposes of this Ordinance, by notice in writing, require-
(a) any firm, to furnish him with a statement of the names and addresses of the partners and their respective
shares;
(b) any Hindu undivided family, to furnish him with a statement of the names and addresses of the manager
and the members of the family;
(c) any person, whom he has reason to believe to be a trustee, guardian or agent to furnish him with a
statement of the names and addresses of the persons for or of whom he is trustee, guardian or agent;
(d) any assessee to furnish him with a statement of the names and addresses of all persons to whom he has
paid in any income year any rent, interest, commission, royalty or brokerage, or any annuity, not being an
annuity classifiable under the head “Salaries”, amounting to more than three thousand taka, together with
particulars of all such payment;
(e) any dealer, broker or agent, or any person concerned in the management of a Stock Exchange, to furnish a
statement of the names and addresses of all persons to whom he or the Exchange has paid any sum in
connection with the transfer of capital assets, or on whose behalf or from whom he or the Exchange has
received any such sum, together with the particulars of all such payments and receipts; or

(f) any person, including a banking company, to furnish information in relation to such points or matters, or to
furnish such statement or accounts giving such particulars, as may be specified in the notice:
Provided that no such notice on a banking company shall be issued by the Deputy Commissioner of Taxes or
the Inspector, without the approval of the Commissioner, 648[ ***].
“113A. Automatic furnishing of information.- (1) The Board may, by a notice in official gazette, require any
authority, person or entity to furnish in digital manner to the Board or any income tax authority specified by
the Board, any information including information regarding assets, liabilities, income, expenses and
transactions in respect of any class of persons.
(2) The information mentioned in sub-section (1) shall be furnished in such digital manner as may be
Inserted F.A
2018 specified in the notice.
(3) For the purpose of this section, furnishing in digital manner includes-
(a) uploading data in the system of the Board;
(b) sharing data to the digital or electronic system of the Board; and
(c) enabling digital or electronic access to the intended system.”

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 106
 Power to Inspect registers of companies (Section-114)
114. The Deputy Commissioner of Taxes, the Joint Commissioner of Taxes or any person authorised in
writing in this behalf by either of them, may inspect and, if necessary, take copies, or cause copies to be taken,
of any register of the members, debenture-holders or mortgagees of any company or any entry in such register.
Power of survey (Section-115)
115. (1) For the purpose of survey of liability of any person to tax under this Ordinance, an income tax
authority may, notwithstanding anything contained in other provisions of this Ordinance but subject to such
directions or instructions as the Board may issue in this behalf, enter any place or premises within the limits of
its jurisdiction and-
(a) inspect any accounts or documents and check or verify any article or thing;
(b) make an inventory of any cash, stock or other valuable articles or things checked or verified by it;
(c) place marks of identification on or stamp the books of accounts or other documents inspected by it and
make or cause to be made extracts or copies therefrom;
(d) record the statement of any person which may be useful for, or relevant to, any proceeding under this
Ordinance; and
(e) make such enquiries as may be necessary.
(2) Subject to the provisions of section 117, any income-tax authority exercising powers under sub-section
(1), shall not remove or cause to be removed from any place or premises wherein he has entered, any books of
account, or other documents, or any cash, stock or other valuable article or thing.
(3) Every proprietor, employee or other person who may be attending in any manner to, or helping in, the
carrying on of any business or profession, or every person who may be residing in the place or premises in
respect of which an income tax authority may be exercising power under sub-section (1), shall in aid of the
exercise of such power,-
(a) afford the authority necessary facilities for inspection of books of accounts or other documents, or for
checking or verifying the cash, stock or other valuable article or thing found in such place or premises; and
(b) furnish such information as the authority may require in respect of any matter which may be useful for, or
relevant to, any proceeding under this Ordinance.

Additional powers of enquiry and production of documents (Section-116)

116. (1) The 649[ * * *] 650[ Directors-General of Inspection], 651[ the Commissioner, the Director General,
Central Intelligence Cell,] and the Inspecting Joint Commissioner may, without prejudice to other powers
which they may have under other provisions of this Ordinance, make any enquiry which they consider
necessary as respects any person liable, or believed by them to be liable, to assessment under this Ordinance,
or652[ require any such person or any other person in relation to such enquiry to appear before him at the time
and place as directed for providing any information or to produce or cause to be produced necessary
documents, accounts or records including any electronic records and systems referred to in the Explanation of
sub-section (2) of section 117 under the possession or control of such person or such other person].
(2) For the purpose of sub-section (1), the 653[ * * *] 654[ Directors- General of Inspection], 655[ the
Commissioner, the Director General, Central Intelligence Cell,] and the Inspecting Joint Commissioner shall
have the same powers as the Deputy Commissioner of Taxes has under this Ordinance for the purposes of
making enquiry or requiring the production of accounts or documents including the powers under section
117(2).
(3) 656[ The Commissioner, the Director General, Central Intelligence Cell,] the Inspecting Joint
Commissioner, the Deputy Commissioner of Taxes or an Inspector, if he is so authorised in writing, may, for
the purpose of making any enquiry which he considers necessary, enter the premises in which a person liable
or believed by him to be liable to assessment, carries on his business or profession, and may call for and
inspect any such person's accounts or any documents in his possession and may stamp any accounts or
documents so inspected and may retain such accounts or documents for so long as may be necessary for
examination thereof or for the purposes of a prosecution:
Provided that the Deputy Commissioner of Taxes or an Inspector shall not make any enquiries from any
scheduled bank regarding any client of such bank except with the prior approval of the 657[ * * *]
Commissioner.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 107
 Power of giving order for not removing property (Section-116A)
658[ 116A. (1) Where, in the course of performing functions under this Ordinance, the Director General,
Central Intelligence Cell or the Commissioner has definite information in his hands that any person has
concealed the particulars of income or investment, he may, by order in writing, require any person who is in
immediate possession or control of any money, bullion, jewellery, financial instrument, financial asset,
valuable article or any other property not to remove, part with, or otherwise deal with it without obtaining
previous permission of the concerned authority passing such order.
(2) Every such order shall cease to have effect after the expiry of a period of one year from the date of the
order made under sub-section (1).
(3) The income tax authority mentioned in sub-section (1) may extend such period or periods with the
approval of the Board:
Provided that the total period of extension shall in no case exceed one year.
(4) In computing the period referred to sub-section (2) and sub-section (3), the period, if any, for which the
order under sub-section (1) has been stayed by any court, shall be excluded.]

Power of search and seizure (Section-117)

117. (1) Where 659[ * * *] the 660[ Directors-General of Inspection] or 661[ the Commissioner, the Director
General, Central Intelligence Cell,] or such other officer empowered in this behalf by the Board has, on
account of information in his possession, reason to believe that-
(a) any person, to whom a summons or notice under this Ordinance has been or might be issued to produce, or
cause to be produced, any books of accounts or other documents, 662[ or electronic records and systems,] has
failed to, or is not likely to, produce or cause to be produced such books of accounts or other documents, 663[
or electronic records and systems,] or
(b) any person is in possession of any money, bullion, jewellery or other valuable article or thing which
represents, wholly or partly, income or property which is required to be disclosed under this Ordinance but
has not been so disclosed, he may authorise any officer subordinate to him, being not below the rank of the
664[ Assistant Commissioner of Taxes], to exercise the powers under sub-section (2).
(2) An officer authorised under sub-section (1) (hereinafter referred to as the authorised officer) may,
notwithstanding anything contained in any other law for the time being in force,-
(a) enter and search any building, place, vessel, vehicle or aircraft where he has reason to suspect that any
books of accounts, documents, 665[electronic records and systems,] money, bullion, jewellery or other
valuable article or thing referred to in sub-section (1) are or have been kept;
(b) break-open the lock of any door, box, locker, safe, almirah or other receptacle for the purpose of the said
entry, and search, if keys thereof are not available;
(c) search any person who has got out of, or is about to get, into, or is in, the building, place, vessel, vehicle or
aircraft, if he has reason to suspect that such person has secreted about his person any such books of accounts,
documents, 666[ electronic records and systems,] money, bullion, jewellery or other valuable article or thing;
(d) seize any such books of accounts, documents, 667[ electronic records and systems,] money, bullion,
jewellery or other valuable article or thing found as a result of such search;
(e) place marks of identification on or stamp any books of accounts or other document or make or cause to be
made extracts or copies therefrom; and
(f) make a note or an inventory of any such money, bullion, jewellery or other valuable article or thing 668[ ;
(g) extract the data, images or any inputs stored in the electronic records and systems or enter the systems by
breaking through password protection or copy or analyse the data, books of accounts, documents, images or
inputs.]
669[ Explanation.- For the purpose of this section, 'electronic records and systems' include data, record or data
generated, image or sound stored, received or sent in an electronic form or micro film or computer generated
micro fiche and also include an electronic device.]
(3) The authorised officer may requisition the services of any police officer or other officer of the Government
670[ or any professional expert from outside the government] to assist him for all or any of the purposes
specified in sub-section (2); and it shall be the duty of every such officer 671[ or professional expert] to
comply with such requisition.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 108
(4) The authorised officer may, where it is not practicable to seize any such books of accounts, documents,
672[ electronic records and systems,] money, bullion, jewellery or other valuable article or thing, by order in
writing, require the owner or the person who is in immediate possession or control thereof not to remove, part
with or otherwise deal with it without obtaining his previous permission; and the authorised officer may take
such steps as may be necessary for ensuring compliance with the order 673[ :
Provided that if the owner or the person concerned, without any reasonable cause, fails to comply with the
provisions of this sub-section, the Deputy Director General, Central Intelligence Cell or the Deputy
Commissioner of Taxes may realize from him the money or the value of the bullion, jewellery, valuable article
or thing, if any, removed, parted with or otherwise dealt with; and in such a case the said person shall be
deemed to be an assessee in default under this Ordinance.]
(5) The authorised officer may, during the course of the search or seizure, examine on oath any person who is
found to be in possession or control of any books of accounts, documents, 674[ electronic records and
systems,] money, bullion, jewellery or other valuable article or thing and any statement made by such person
during the examination may thereafter be used in evidence in any proceeding under this Ordinance, or the
Income-tax Act, 1922 (XI of 1922).
(6) Where any books of accounts, documents, 675[ electronic records and systems,] money, bullion, jewellery
or other valuable article or thing is found in the possession or control of any person in the course of a search,
it may be presumed that-
(a) the books of accounts, documents, 676[ electronic records and systems,] money, bullion, jewellery, article
or thing belongs to such person;
(b) the contents of 677[ the books of accounts, documents, electronic records and systems] are true; and
(c) the signature on, or the handwriting in, any such books or documents is the signature or handwriting of the
person whose signature or hand writing it purports to be.
(7) The person from whose custody any books of accounts or other documents 678[ or electronic records and
systems] are seized under sub-section (2) may make copies thereof, or take extracts therefrom, in the presence
of the authorised officer or any other person designated by him, at such place and time as the authorised
officer may appoint in this behalf.
(8) The books of accounts or other documents 679[ or electronic records and systems] seized under sub-
section (2) shall not be retained by the authorised officer for a period exceeding one hundred and eighty days
from the date of the seizure unless for reasons recorded in writing, approval of 680[ * * *] the Commissioner
has been obtained for such retention:
Provided that 681[ * * *] the Commissioner shall not approve such retention for a period exceeding thirty days
after all the proceedings under this Ordinance in respect of the years for which the books of accounts or other
documents, 682[ electronic records and systems,] as are relevant, have been completed.

(9) If any person, legally entitled to the books of accounts or other documents 683[ or electronic records and
systems] seized under sub-section (2) objects to the approval given by the Commissioner under sub-section
(8), he may make an application, stating therein the reasons for his objection, to the Board for the return of the
books of accounts or other documents 684[ or electronic records and systems]; and the Board may, after
giving the applicant an opportunity of being heard, pass such orders thereon as it may think fit.
(10) Subject to the provisions of this Ordinance and the rules, if any, made in this behalf by the Board, the
provisions of the Code of Criminal Procedure, 1898 (Act V of 1898), relating to search and seizure shall
apply, so far as may be, to search and seizure under sub-section (2).
Explanation.-For the purposes of this section, the word “proceeding” means any proceeding in respect of any
year under this Ordinance which may be pending on the date on which a search is authorised under this
section or which may have been completed on or before such date and also includes all proceedings under this
Ordinance which may be commenced after such date in respect of any year.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 109
 Power to verify deduction or collection of tax (Section-117A)
685[ 117A. Notwithstanding anything contained in this Ordinance or any other law for the time being in force,
686[ without prejudice to the provisions of section 75AA,] the Board or any other authority empowered by the
Board in this behalf may enter the premises of a deducting or collecting authority to examine, monitor or
verify books of accounts and relevant records in relation to-
(a) deduction or collection of tax by the concerned authority in accordance with the provisions of Chapter VII
of this Ordinance; and
(b) deposit of the tax so collected or deducted to the credit of the Government as per rules.]
Retention of seized assets (Section-118)
118. (1) Where any money, bullion, jewellery or other valuable article or thing (hereinafter referred to as
assets) is seized under section 117, the authorised officer shall, unless he himself is the Deputy Commissioner
of Taxes, forward a report thereof, together with all relevant papers, to the Deputy Commissioner of Taxes.
(2) Where he has seized any assets under section 117 or, as the case may be, he has received a report under
sub-section (1), the Deputy Commissioner of Taxes shall, after giving the person concerned a reasonable
opportunity of being heard and making such enquiry as 687[ * * *] the 688[ Directors-General of Inspection]
or the Commissioner may direct, within ninety days of the seizure of the assets, and with the previous
approval of the Commissioner-
(a) estimate the undisclosed income (including income from the undisclosed property), in a summary manner
to the best of his judgement on the basis of such materials as are available with him;
(b) calculate the amount of tax payable under this Ordinance on the income so estimated; and
(c) specify the amount that will be required to satisfy any existing liability under this Ordinance, the Income
tax Act, 1922 (XI of 1922), the Gift-tax Act, 1963 (XIV of 1963), and the Wealth-tax Act, 1963 (XV of
1963), in respect of which such person is in default or is deemed to be in default:
Provided that if, after taking into account the materials available with him, the Deputy Commissioner of Taxes
is of the view that it is not possible to ascertain to which particular income year or years such income or any
part thereof relates, he may calculate the tax on such income or part, as the case may be, as if such income or
part were the total income chargeable to tax at the rates in force in the financial year in which the assets were
seized.
Explanation.-In computing the period of ninety days for the purposes of sub-section (2), any period during
which any proceeding under this section is stayed by an order or injunction of any Court shall be excluded.

(3) After completing the proceedings under sub-section (2), the Deputy Commissioner of Taxes shall, with the
approval of the Commissioner, make an order requiring the person concerned to pay the aggregate of the
amounts referred to in sub-section (2)(b) and (c) and shall, if such person pays, or makes satisfactory
arrangement for the payment of, such amounts or any part thereof, release the assets seized under section 117
or such part thereof as he may deem fit in the circumstances of the case.
(4) Where the person concerned fails to pay, or to make satisfactory arrangements for the payment of, any
amount required to be paid in pursuance of the order under sub-section (3) or any part thereof, he shall be
deemed to be an assessee in default in respect of the amount or part, and the Deputy Commissioner of Taxes
may retain in his custody the assets seized under section 117 on any part thereof as are in his opinion
sufficient for the realisation of the said amount or, as the case may be, of such part thereof as has not been
paid.
(5) If the Deputy Commissioner of Taxes is satisfied that the assets seized under section 117 or any part
thereof were held by a person for or on behalf of any other person, he may proceed under this section against
such other person, and all the provisions of this section shall apply accordingly.
(6) If any person objects, for any reason, to an order made under sub-section (3), he may, within thirty days of
the date of such order, make an application, stating therein the reasons for his objection, to the Commissioner
for appropriate relief in the matter; and the Commissioner may, after giving the applicant an opportunity of
being heard, pass such orders thereon as he may think fit.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 110
 Application of retained assets (Section-119)
119. (1) Where the assets retained under sub-section (4) of section 118 consist solely of money, or partly of
money and partly of other assets-
(a) the Deputy Commissioner of Taxes shall first apply such money towards payment of the amount in respect
of which the person concerned is deemed to be an assessee in default under that sub-section; and thereupon
such person shall be discharged of his liability to the extent of the money so applied; and
(b) where, after application of the money under clause (a), any part of the amount referred to therein remains
unpaid, the Deputy Commissioner of Taxes may recover the amount remaining unpaid, by sale of such of the
assets as do not consist of money in the manner movable property may be sold by a Tax Recovery Officer for
the recovery of tax; and for this purposes he shall have all the powers of a Tax Recovery Officer under this
Ordinance.
(2) Nothing contained in sub-section (1) shall preclude the recovery of the amount referred to in section 118
(4) by any other mode provided in this Ordinance for the recovery of any liability of an assessee in default.
(3) Any assets or proceeds thereof which remain after the discharge of the liability in respect of the amount
referred to in section 118(4) shall forthwith be made over or paid to the persons from whose custody the
assets were seized.

Power of Commissioner or Inspecting Joint Commissioner to revise the erroneous order (Section-120)

689[ 120. (1) The Inspecting Joint Commissioner may call for and examine the record of any proceeding
under this Ordinance if he considers that any order passed therein by the Deputy Commissioner of Taxes is
erroneous in so far as it is prejudicial to the interests of the revenue, and may, after giving the assessee an
opportunity of being heard, and after making or causing to be made, such inquiry as he thinks necessary, pass
such order thereon as in his view the circumstances of the case would justify, including an order enhancing or
modifying the assessment or cancelling the assessment and directing a fresh assessment to be made.
(2) Where the power of the Deputy Commissioner of Taxes is exercised by a higher income tax authority
under the provision of section 10, the proceedings mentioned in sub-section (1) shall be taken by the
Commissioner.
(3) No order shall be made under sub-section (1) after the expiry of four years from the date of the order
sought to be revised.
(4) Nothing in section 93 shall bar any proceeding under this section in applicable cases.
(5) In this section, an order shall be deemed to be erroneous if, in the opinion of the Commissioner or the
Inspecting Joint Commissioner, as the case may be,-
(a) any income is misclassified in the order; or
(b) any provision of this Ordinance is misinterpreted in making the order; or
(c) the order is passed without making verification which should have been made; or
(d) the order is passed allowing any relief without inquiring into the claim; or
(e) the order, direction or instruction issued by the Board under section 8 has not been observed or followed
in the order; or
(f) the order is erroneous for reasons apparent from the record.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 111
 Revisional power of Commissioner (Section-121A)
693[ 121A. (1) The Commissioner may on an application made by the assessee, call for the record of any
proceeding under this Ordinance in which an order has been passed by any authority subordinate to him and
may make such enquiry or cause such enquiry to be made and, subject to the provisions of this Ordinance,
may pass such order thereon, not being an order prejudicial to the assessee, as he thinks fir.

(2) The application for revision of an order under this Ordinance passed by any authority subordinate to the
Commissioner shall be made within sixty days of the date on which such order is communicated to the
assessee or within such further period as the Commissioner may consider fit to allow on being satisfied that
the assessee was prevented by sufficient cause from making the application within the said sixty days.
(3) The Commissioner shall not exercise his power under sub-section (1) in respect of any order-
(a) Where an appeal against the order lies to the Appellate Joint Commissioner or to the Commissioner
(Appeals) or to the Appellate Tribunal and the time within which such appeal may be made has not expired or
the assessee has not waived his right of appeal; or
(b) where the order is pending on an appeal before the Appellate Joint Commissioner or it has been made the
subject of an appeal to the Commissioner (Appeals) or to the Appellate Tribunal.
(4) No application under sub-section (1) shall lie unless-
(a) it is accompanied by a fee of two hundred taka; and
(b) the undisputed portion of the tax has been paid.
Explanation.-The “undisputed portion of the tax” means the tax payable under section 74.
(5) For the purposes of this section, an order by the Commissioner declining to interfere shall not be construed
as an order prejudicial to the assessee.
(6) Notwithstanding anything contained in this Ordinance, an application for revision made under sub-section
(1) shall be deemed to have been allowed if the Commissioner fails to make an order thereon within a period
of sixty days from the date of filing the application.
Explanation.-For the purposes of this section, the Appellate Joint Commissioner of Taxes shall be deemed to
be an authority subordinate to the Commissioner to whom the Deputy Commissioner of Taxes, whose order
was the subject-matter of the appeal order under revision, is subordinate.]

Power to take evidence on oath, etc (Section-122)

122. (1) The Deputy Commissioner of Taxes, the Joint Commissioner of Taxes, the Commissioner 694[ ,the
Director General, Central Intelligence Cell,] and the Appellate Tribunal shall, for the purposes of this
Ordinance, have the same powers as are vested in a Court under the Code of Civil Procedure, 1908 (Act V of
1908), when trying a suit in respect of the following matters, namely:-
(a) discovery and inspection;
(b) enforcing the attendance of any person and examining him on oath or affirmation;
(c) compelling the production of accounts or documents (including accounts or documents relating to any
period prior or subsequent to the income year); and
(d) issuing commissions for the examination of witnesses.
(2) The Deputy Commissioner of Taxes shall not exercise his powers under this section for the purpose of
enforcing the attendance of an employee of a scheduled bank as a witness or compelling the production of
books of account of such a bank except with the prior approval of the Commissioner.
(3) Any authority mentioned in sub-section (1) may impound and retain in its custody for such period as it
considers fit, any books of accounts or other documents produced before it in any proceeding under this
Ordinance.
(4) Any proceeding under this Ordinance, before any authority mentioned in sub-section (1), shall be deemed
to be a judicial proceeding within the meaning of sections 193 and 228, and for the purposes of section 196,
of the Penal Code (Act XLV of 1860).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 112
 CHAPTER XV
IMPOSITION OF PENALTY

695[ 123. (1) Where any person, not having income from house property, has, without reasonable cause,
failed to comply with the provisions of any order or rule made in pursuance of, or for the purposes of section
35(2), the Deputy Commissioner of Taxes, may impose upon him a penalty at the rate of a sum not exceeding-
(a) one and a half times the amount of tax payable by him;
(b) one hundred Taka where the total income of such person does not exceed the maximum amount on which
tax is not chargeable.
(2) Where any person, having income from house property, has, without reasonable cause, failed to comply
Omitted &
with the provisions of any order or rule made in pursuance of, or for the purposes of section 35(2), the Deputy
Inserted F.A
2018
Commissioner of Taxes, Shall May impose upon him a penalty of fifty percent of taxes payable on house
property income or five thousand taka, whichever is higher.]

Penalty for failure to file return, etc (Section-124)

696[ 124. (1) Where any person has, without reasonable cause, failed to file a return of income required by or
under sections 75, 77, 89(2), 91(3) 697[ , 93(1) and or withholding tax required under section 75A]“under
Omitted &
sections 75, 77, 89, 91 or 93”, the Deputy Commissioner of Taxes may impose upon such person a penalty
Inserted F.A
2018
amounting to ten per cent of tax imposed on last assessed income subject to a minimum of 698[ taka one
thousand], and in the case of a continuing default a further penalty of 699[ taka fifty] for every day during
which the default continues 700[ :
Provided that such penalty shall not exceed—
(a) in case of an assessee, being an individual, whose income was not assessed previously five thousand taka;
(b in case of an assessee, being an individual, whose income was assessed previously, fifty per cent (50%) of
the tax payable on the last assessed income or taka one thousand, whichever is higher.]
(2) Where any person has, without reasonable cause, failed to file or furnish or, as the case may be, obtain and
display within the time laid down therefore,-
(a) any certificate, statement, accounts or information required by or under sections 58, 108, 109 701[ or] 110
702[ ***] ; or
(b) the tax-payer's identification number (TIN) certificate under section 184C-
Omitted F.A the Deputy Commissioner of Taxes shall impose upon such person a penalty of taka five hundred and in the
2018 case of a continuing default a further penalty of taka two hundred and fifty for every month of fraction thereof
during which the default continues 703[ :
Provided that where any person has, without any reasonable cause, failed to furnish information as required
under section 113, the 704[ Director General], Central Intelligence Cell or the Deputy Commissioner of Taxes
may impose a penalty of taka twenty five thousand and in case of a continuing default a further penalty of taka
five hundred for each day.]
Inserted F.A
“(2) Where any person has, without reasonable cause, failed to-
2018
(a) file or furnish any return, certificate, statement or information required under sections 58, 75A, 108, 108A,
109, or 110; or
(b) display the tax payer's identification number (TIN) certificate in accordance with the provisions of section
184C,
the Deputy Commissioner of Taxes may impose upon such person-
(a) where the return, statement or information under sections 75A, 108 or 108A has not been filed or
furnished, a penalty amounting to ten per cent of tax imposed on last assessed income or five thousand taka,
whichever is higher, and in the case of a continuing default, a further penalty of one thousand taka for every
month or fraction thereof during which the default continues;
(b) in other cases of non-compliance, a penalty amounting to five thousand taka, and in the case of a
continuing default, a further penalty of one thousand taka for every month or fraction thereof during which the
default continues.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 113
(3) Where any person has, without any reasonable cause, failed to furnish information as required under
section 113, the income tax authority requiring the information under section 113 may impose a penalty of
twenty five thousand taka and in case of a continuing default a further penalty of five hundred taka for each
day.”
Penalty for using fake Tax-payer's Identification Number (Section-124A)
705[ 124A.-Where a person has, without reasonable cause, used Tax-payer's Identification Number (TIN) of
another person or used fake TIN on a return of income or any other documents where TIN is required under
this Ordinance, the Deputy Commissioner of Taxes may impose a penalty not exceeding taka twenty thousand
on that person.]

Penalty for failure to verify Taxpayer’s Identification Number, etc (Section-124AA)

706[ 124AA. Where a person, without reasonable cause, fails to comply with the provision of sub-section (5)
or (6) of section 184A, the Deputy Commissioner of Taxes or any other income tax authority authorised by
the Board for this purpose may impose upon such person a penalty-
(a) not exceeding two lakh taka in the case of non-compliance with the provision of sub-section (5);
(b) not exceeding fifty thousand taka in the case of non-compliance with the provision of sub-section (6).]

Failure to pay advance tax, etc (Section-125)

125. Where, in the course of any proceeding in connection with the assessment of tax under Chapter IX, the
Deputy Commissioner of Taxes is satisfied that any person has-
(a) without reasonable cause, failed to pay advance tax as required by section 64; or
(b) furnished under section 67 any estimate of tax payable by him which he knew, or had reason to believe, to
be untrue,
he may impose upon such person a penalty of a sum not exceeding the amount by which the tax actually paid
by him falls short of the amount that should have been paid.

Penalty for non-compliance with notice (Section-126)

126. Where any person has, without reasonable cause, failed to comply with any notice issued under sections
79, 80 707[ under sub-section (1) or (2) of section 83], the Deputy Commissioner of Taxes may impose on
him a penalty not exceeding the amount of tax chargeable on the total income of such person.

Failure to pay tax on the basis of return (Section-127)

127. Where, in the course of any proceeding under this Ordinance, the Deputy Commissioner of Taxes is
satisfied that any person has not paid tax as required by section 74, 708[ ***], he may impose upon such
person a penalty of a sum not exceeding twenty-five per cent of the whole of the tax or, as the case may be, of
such portion of the tax as has not been paid.

Penalty for concealment of income (Section-128)

128. (1) Where, in the course of any proceeding under this Ordinance, the Deputy Commissioner of Taxes, the
Appellate Joint Commissioner 709[, the Commissioner (Appeals)] or the Appellate Tribunal is satisfied that
any person has, either in the said proceeding or in any earlier proceeding relating to an assessment in respect
of the same income year,-
(a) concealed particulars of his income or furnished inaccurate particulars of such income; or
(b) understated the value of any immovable property in connection with its sale or transfer with a view to
evading tax,
710[ he or it shall impose upon such person a penalty of 711[ fifteen per cent]] of tax which would have been
avoided had the income as returned by such person or, as the case may be, the value of the immovable
property as stated by him been accepted as correct 712[ :
713[ Provided that if the concealment referred to in clause (a) and (b) of this sub-section or sub-section (2) is
detected after a period of more than one year from the year in which the concealment was first assessable to
tax, the amount of penalty shall increase by an additional 714[fifteen per cent] for each preceeding assessment
year.]
(2) For the purpose of sub-section (1), concealment of particulars of income or furnishing of inaccurate
particulars of income shall include,-
(a) the suppression of any item of receipt liable to tax in whole or in part, or

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 114
 (b) showing any expenditure not actually incurred or claiming any deduction therefore.
(2A) [Omitted by section 6 of অথ আইন,
ি ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন).]
(3) [Omitted by section 7 of অথ আইন,
ি ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন).]
129. [Incorrect distribution of income by registered firm.- Omitted by section 6 of অথ আইন,
ি ১৯৯৮ (১৯৯৮ সননর ১৪ নং
715[ Omitted]
আইন).]
Penalty for incorrect or false audit report by chartered accountant (Section-129A)

716[ 129A. Penalty for incorrect or false audit report by chartered accountant. Where, in the course of any proceeding
under this Ordinance, the Deputy Commissioner of Taxes, the Appellate Joint Commissioner, the Commissioner of Taxes
(Appeals) or the Appellate Tribunal is satisfied beyond reasonable doubt that the audit report-

717[ (a) is not certified by a chartered accountant to the effect that the accounts are maintained and the statements are
prepared and reported in accordance with the Bangladesh Accounting Standards (BAS) and the Bangladesh Financial
Reporting Standards (BFRS), and are audited in accordance with the Bangladesh Standards on Auditing (BSA), or]

(b) is false or incorrect,

he shall impose upon such chartered accountant a penalty of a sum not less than fifty thousand taka but not more than two
lakh taka.]
Penalty for furnishing fake audit report (Section-129B)
718[ 129B. Where, in the course of any proceeding under this Ordinance, the Deputy Commissioner of Taxes, the Appellate
Joint Commissioner, the Commissioner (Appeals) or the Appellate Tribunal is satisfied beyond reasonable doubt that any
audit report furnished by an assessee along with the return of income or thereafter for any income year is not signed by a
chartered accountant or is believed to be false, such authority or the Tribunal, as the case may be, shall impose upon such
assessee a penalty of a sum of one lakh taka for that income year.]
Bar to imposition of penalty without hearing (Section-130)
130. No order imposing a penalty under this Chapter 719[ or Chapter XIA] shall be made on any person unless such person
has been heard or has been given a reasonable opportunity of being heard.
Previous approval of Inspecting Joint Commissioner for imposing penalty (Section-131)
131. The Deputy Commissioner of Taxes shall not impose any penalty under this Chapter without the previous approval of
the Inspecting Joint Commissioner except in the cases referred to in section 124 720[ .]
Previous approval of the Board for imposing penalty (Section-131A)
131A. [Previous approval of the Board for imposing penalty.- Omitted by section 4 of অথ আইন,
ি ১৯৯৬ (১৯৯৬ সননর
১৮ নং আইন).]
Orders of Appellate Joint Commissioner, etc, to be sent to Deputy Commissioner of Taxes (Section-132)
132. The Appellate Joint Commissioner, 721[ or the Commissioner (Appeals)] or the Appellate Tribunal 722[ or any other income tax
Omitted F.A authority making an order imposing any penalty under this Chapter or Chapter XIA] shall forthwith send a copy of the order to the Deputy
2018 Commissioner of Taxes, and thereupon all the provisions of this Ordinance relating to the recovery of penalty shall apply as if such order
were made by the Deputy Commissioner of Taxes.

“132. Orders of penalty to be sent to Deputy Commissioner of Taxes.- The Appellate Tribunal or any income tax authority, not being the
Inserted F.A Deputy Commissioner of Taxes himself, making an order imposing any penalty under this Ordinance shall forthwith send a copy of the
2018 order to the Deputy Commissioner of Taxes, and thereupon all the provisions of this Ordinance relating to the recovery of penalty shall
apply as if such order were made by the Deputy Commissioner of Taxes.”।

Penalty to be without prejudice to other liability (Section-133)

133. The imposition on any person of any penalty under this Chapter shall be without prejudice to any other liability which
such person may incur, or may have incurred, under this Ordinance or under any other law for the time being in force.

Revision of penalty based on the revised amount of income (Section-133A)

723[ 133A. (1) Where a penalty imposed under this Chapter is directly related to the amount of income assessed under the provision of this
Ordinance and the amount of income is revised subsequently by an order made under this Ordinance, the Deputy Commissioner of Taxes
shall pass an order revising the order of penalty at the time of revising the income.

(2) No order of enhancement of penalty shall be made unless the parties affected thereby have been given a reasonable opportunity of being
heard.

(3) Where, in the case mentioned in sub-section (1), an order of the revision of penalty is not issued despite the fact that the relevant
assessment order has been revised, the parties affected can make an application to the Deputy Commissioner of Taxes requesting the
revision of the amount of penalty and if no order has been made by within one hundred and eighty days from the receipt of such
application, the amount of penalty shall be deemed to have been revised according to the revised amount of income and all the provisions
of this Ordinance shall have effect accordingly.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 115
 CHAPTER XVI
RECOVERY OF TAX

Tax to include penalty, interest, etc (Section-134)

134. For the purposes of this Chapter, “tax” includes any sum imposed, levied or otherwise payable under this
Ordinance as penalty, fine, interest 724[ , delay interest, additional amount,], fee or otherwise; and the
provisions of this chapter shall accordingly apply to the recovery of any such sum.

Notice of demand (Section-135)

135. (1) Where any tax is payable in consequence of any assessment made or any order passed under or in
pursuance of this Ordinance, the Deputy Commissioner of Taxes shall serve upon the assessee (which
expression includes any other person liable to pay such tax) a notice of demand in the prescribed form
specifying therein the sum payable and the time within which, and the manner in which, it is payable, together
with a copy of an assessment order.
725[ (1A) Where any amount of tax is refundable in consequence of any order, 726[ ***] the Deputy
Commissioner of Taxes shall specify in the notice referred to in sub-section (1) the sum refundable to the
assessee together with a copy of an assessment order and a refund voucher unless such refund is set off
against tax as per provision of section 152.]
727[ (1B) The Deputy Commissioner of Taxes shall not set off without giving the assessee an opportunity of
being heard and in that case refund voucher for the amount due for refund, if any, shall be issued within a
period not exceeding thirty days from the date of assessment.
(1C) Where the Deputy Commissioner of Taxes fails to issue refund voucher for any refund due to an
assessee within the time specified in this section, such failure on the part of the Deputy Commissioner of
Taxes shall be construed as misconduct.]
(2) Where the assessee upon whom a notice of demand has been issued under sub-section (1) makes an
application in this behalf before the expiry of the date of payment specified in the notice, the Deputy
Commissioner of Taxes may extend the time for payment or allow payment by instalments subject to such
conditions, including payment of interest on the amount payable, as he may think fit in the circumstances of
the case.
(3) If the sum payable is not paid within the time specified in the notice of demand issued under sub-section
(1) or, as the case may be, within the time as extended under sub-section (2), the assessee shall be deemed to
be in default:
Provided that where the assessee has presented an appeal under this Ordinance in respect of the assessment of
imposition of the tax or of the amount thereof, 728[ the Deputy Commissioner of Taxes shall] treat the
assessee as not being in default for so long as such appeal is not disposed of.
(4) If, in a case where payment by instalment has been allowed under sub-section (2), the assessee commits
default in paying any one of the instalments within the time fixed therefore, the assessee shall be deemed to be
in default as to the whole of the amount then outstanding, and the other instalment or instalments shall be
deemed to have been due on the same date as the instalment in respect of which default has actually been
committed was due for payment.
(5) Where an assessee has been assessed in respect of income arising outside Bangladesh in a country the laws
of which prohibit or restrict the remittance of money to Bangladesh, the Deputy Commissioner of Taxes shall
not treat the assessee as in default in respect of that part of the tax which is due in respect of such amount of
income as cannot, by reason of the prohibition or restriction, be brought into Bangladesh, and shall continue
to treat the assessee as not in default in respect of such part of the tax until the prohibition or restriction is
removed.
Explanation.-For the purposes of this section, income shall be deemed to have been brought into Bangladesh
if it has been or could have been utilized for the purposes of any expenditure actually incurred by the assessee
outside Bangladesh or if the income, whether capitalized or not, has been brought into Bangladesh in any
form.
136. [Simple interest on delayed payment.- Omitted by section 5 of অথ আইন, ি ১৯৯৭ (১৯৯৭ সননর ১৫ নং
729[ Omitted]
আইন).]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 116
 Penalty for default in payment of tax (Section-137)
137. (1) Where an assessee is in default or is deemed to be in default in making payment of tax, the Deputy
Commissioner of Taxes may direct that, in addition to the amount of tax in arrears, a sum not exceeding that
amount shall be recovered from the assessee by way of penalty.
(2) Where, as a result of any final order, the amount of tax, with respect to the default in the payment of which
the penalty was levied, has been wholly reduced, the penalty levied shall be cancelled and the amount of
penalty paid shall be refunded.

Certificate for recovery of tax (Section-138)

138. (1) When an assessee is in default or is deemed to be in default in making payment of tax, the Deputy
Commissioner of Taxes may forward to the Tax Recovery Officer a certificate for recovery of the tax, under
his signature specifying the amount of arrears due from the assessee; and such certificate may be issued
notwithstanding that proceedings for recovery of the arrears by any other mode have been taken.
(2) A certificate under sub-section (1) may be forwarded to-
(a) the Tax Recovery Officer within whose jurisdiction the assessee carried on his business or profession or
the principal place of business or profession of the assessee is situate; or
(b) the Tax Recovery Officer within whose jurisdiction the assessee resides or any movable or immovable
property of the assessee is situate; or
(c) the Tax Recovery Officer who has jurisdiction in relation to the assessee whose income is assessable by
the Deputy Commissioner of Taxes forwarding the certificate.

Method of recovery by Tax Recovery Officer (Section-139)

139. (1) Upon receipt of a certificate forwarded to him under section 138, the Tax Recovery Officer shall,
notwithstanding anything contained in any other law for the time being in force, proceed, in accordance with
the rules made in this behalf by the Board, to recover from the assessee the amount specified in the certificate
by one or more of the following modes, namely:-
(a) attachment and sale, or sale without attachment, of any movable or immovable property of the assessee;
(b) arrest of the assessee and his detention in prison;
(c) appointment of a receiver for the management of the movable and immovable properties of the assessee.
730[ (2) While recovering under sub-section (1) the amount specified in the certificate forwarded to him, the
Tax Recovery Officer may also recover in the same manner from the assessee in default, in addition to such
amount, any cost and charges, including expenses on the service of any notice or warrant, incurred in the
proceedings for the recovery of the tax in arrears.]
(a) the interest for which the assessee is liable under section 136; and
(b) any cost and charges, including expenses on the service of any notice or warrant, incurred in the
proceedings for the recovery of the tax in arrears.
(3) If the Tax Recovery Officer to whom a certificate is forwarded under section 138 is not able to recover the
entire amount by the sale of movable and immovable properties of the assessee within his jurisdiction, but has
information that the assessee has property within the jurisdiction of another Tax Recovery Officer, he may
send the certificate to such other Tax Recovery Officer or to the Tax Recovery Officer within whose
jurisdiction the assessee resides; and the Tax Recovery Officer to whom the certificate has been so sent shall
proceed to recover under this Chapter the amount remaining un-recovered as if the certificate was forwarded
to him by the Deputy Commissioner of Taxes.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 117
 Power of withdrawal of certificate and stay of proceeding (Section-140)
140. (1) Notwithstanding the issue of a certificate for recovery under section 138, the Deputy Commissioner
of Taxes shall have power to withdraw, or correct any clerical or arithmetical error in the certificate by
sending an intimation to that effect to the Tax Recovery Officer.
(2) Where the order giving rise to a demand of tax for which a certificate for recovery has been issued has
been modified in appeal or other proceedings under this Ordinance and, as a consequence thereof, the demand
is reduced but the order is the subject-matter of further proceedings under this Ordinance, the Deputy
Commissioner of Taxes shall stay the recovery of such part of the amount of the certificate as pertains to the
said reduction for the period for which the appeal or other proceedings remain pending.

(3) Where a certificate for recovery has been issued and subsequently the amount of outstanding demand is
reduced as a result of appeal or other proceedings under this Ordinance, the Deputy Commissioner of Taxes
shall, when the order, which was the subject-matter of such appeal or other proceeding, has become final and
conclusive, amend the certificate or withdraw it, as the case may be.
(4) The Deputy Commissioner of Taxes shall communicate to the Tax Recovery Officer any orders of
cancellation, correction, stay of proceeding, withdrawal or amendment, as the case may be, of a certificate for
recovery.

Validity of certificate for recovery not open to dispute (Section-141)

141. When the Deputy Commissioner of Taxes forwards a certificate for recovery under section 138 to a Tax
Recovery Officer, it shall not be open to the assessee to dispute before the Tax Recovery Officer the
correctness of the assessment; and the Tax Recovery Officer shall not entertain any objection to the certificate
on any ground whatsoever.

Recovery of tax through Collector of District (Section-142)

142. (1) The Deputy Commissioner of Taxes may forward to the Collector of the District in which the office
of the Deputy Commissioner of Taxes is situate or the district in which the assessee resides or owns property
or carries on business or profession, a certificate under his signature specifying the amount of arrears due
from an assessee, and the Collector, on receipts of such certificate shall proceed to recover, from such
assessee the amount specified therein as if it were an arrear of land revenue.
(2) Without prejudice to any other powers which the Collector of District may have in this behalf, he shall, for
the purposes of recovery of the amount specified in the certificate for recovery forwarded to him under sub-
section (1), have the powers which a Civil Court has under the Code of Civil Procedure, 1908 (Act V of
1908), for the purposes of recovery of an amount due under a decree.
(3) The Deputy Commissioner of Taxes may, at any time, recall from the Collector of District a certificate
forwarded to him under sub-section (1) and upon such recall, all proceeding commenced in pursuance of the
certificate shall abate:
Provided that the recall of a certificate shall not affect any recoveries made by the Collector before the recall
as if the certificate had not, to the extent of such recovery, been recalled; nor shall the recall of a certificate
issued at any time prevent the recovery, by issue of a fresh certificate, of any amount which was recoverable at
the time the certificate so recalled was issued.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 118
 Recovery of tax through Special Magistrates (Section-142A)

731[ 142A. (1) Without prejudice to the provisions of section 142, the Deputy Commissioner of Taxes may
forward to a Magistrate of the First Class, specially empowered in this 732[ * * *] behalf by the Government,
hereinafter referred to as the Special Magistrate, in whose territorial jurisdiction the office of the Deputy
Commissioner of Taxes is situate, or the assessee resides, or owns property or carries on business or
profession, a certificate under his signature specifying the amount of arrears due from the assessee, and the
Special Magistrate shall, on receipt of such certificate, proceed to recover from the assessee the amount
specified therein as if it were an arrear of land revenue and the Special Magistrate were a Collector of District.

(2) Without prejudice to any other powers of a Collector of District which the Special Magistrate may have in
this behalf, he shall, for the purposes of recovery of the amount specified in the certificate for recovery
forwarded to him under sub-section (1), have the powers which a Civil Court has under the Code of Civil
Procedure, 1908 (Act V of 1908), for the purpose of recovery of an amount due under a decree.
(3) The Deputy Commissioner of Taxes may, at any time, recall from the Special Magistrate a certificate
forwarded to him under sub-section (1) and upon such recall, all proceedings commenced in pursuance of the
certificate shall abate:
Provided that the recall of a certificate shall not affect any recoveries made by the Special Magistrate before
the recall as if the certificate had not, to the extent of such recovery, been recalled; nor shall the recall of a
certificate issued at any time prevent the recovery, by issue of a fresh certificate of any amount which was
recoverable at the time the certificate so recalled was issued.]
Other modes of recovery (Section-143)
143. (1) Notwithstanding the issue of a certificate for recovery of tax under section 138 or section 142, the
Deputy Commissioner of Taxes may also recover the tax in the manner provided 733[ in sub-section (1A) or
(2)].
734[ (1A) For the purpose of recovery of tax payable by an assessee which is not disputed in appeal to any
appellate forum, the Deputy Commissioner of Taxes may, with the previous approval of the Commissioner,
after giving the assessee an opportunity of being heard, stop movement of any goods and services from the
business premises of such assessee and also shutdown such business premises till the recovery of the tax
referred to above or any satisfactory arrangement has been made for the recovery of such tax.]
(2) For the purposes of recovery of any tax payable by an assessee, the Deputy Commissioner of Taxes may,
by notice in writing, require any person.-
(a) from whom 735[ any money or goods] is due or may become due to the assessee, or who holds, or
Omitted F.A controls the receipt or disposal of, or may subsequently hold, or control the receipt or disposal of, 736[ any
2018 money or goods] belonging to, or on account of, the assessee, to pay to the Deputy Commissioner of Taxes
the sum specified in the notice on or before the date specified therein for such payment; or
“(a) from whom any money or goods is due or may become due to the assessee, or who holds, or controls
the receipt or disposal of, or may subsequently hold, or control the receipt or disposal of, any money or
goods belonging to, or on account of, the assessee, to –
(i) pay to the Deputy Commissioner of Taxes the sum specified in the notice on or before the date specified
Inserted F.A
2018
therein for such payment; or
(ii) stop the transfer of that goods to the assessee or the placement of that goods under the disposal of the
assesse until the amount of tax mentioned in the notice has been paid or a satisfactory arrangement has
been made with the Deputy Commissioner of Taxes for payment of such tax; or”.

(b) Who is responsible for payment of any sum to the assessee classifiable as income of the assessee under the
head “Salaries”, to deduct from any payment subsequent to the date of the notice, any arrear of tax due from
the assessee, and to pay the sum so deducted to the credit of the Government.
(3) A person who has paid any sum as required by sub-section (2) (a) shall be deemed to have paid such sum
under the authority of the assessee and the receipt by the Deputy Commissioner of Taxes shall constitute a
good and sufficient discharge of the liability of such person to the assessee to the extent of the sum specified
in the receipt.
(4) A person who has deducted any sum as required by sub-section (2) (b) shall be deemed to have deducted
the tax under section 50 and the relevant provisions of Chapter VII shall apply accordingly.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 119
(5) If the person to whom a notice under sub-section (2) is sent fails to make payment or to make deductions
in pursuance of the notice, he shall be deemed to be an assessee in default in respect of the amount specified
in the notice and proceedings may be taken against him for realisation of the amount as if it were an arrear of
tax due from him; and the provisions of this Chapter shall apply accordingly.
(6) The Deputy Commissioner of Taxes may at any time amend or revoke any notice issued under sub-section
(2) or extend the time for making any payment in pursuance of such notice.
(7) In any area with respect to which the Commissioner has directed that any arrears may be recovered by any
process enforceable for the recovery of an arrear of any municipal tax or local rate imposed under any
enactment for the time being in force in any part of Bangladesh, the Deputy Commissioner of Taxes may
proceed to recover the amount due by such process.
(8) The Commissioner may direct by what authority any powers or duties incident under any such enactment
as aforesaid to the enforcement of any process for the recovery of a municipal tax or local rate shall be
exercised or performed when that process is employed under sub-section (7).
Explanation.-For the removal of doubts it is hereby clarified that the several modes of recovery specified in
this Chapter are neither mutually exclusive nor affect in any way any other law for the time being in force
relating to the recovery of debts due to Government, and it shall be lawful for the Deputy Commissioner of
Taxes, if for any special reasons to be recorded by him, to have recourse to any such mode of recovery
notwithstanding that the tax due is being recovered from an assessee by any other mode.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 120
 CHAPTER XVII
DOUBLE TAXATION RELIEF

Agreement to avoid double taxation (Section-144)

144. (1) The Government may enter into an agreement with the Government of any other country for the
avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income leviable
under this Ordinance and under the corresponding law in force in that country, and may, by notification in the
official Gazette, make such provisions as may be necessary for implementing the agreement.

(2) Where any such agreement as is referred to in sub-section (1) is made with the Government of any
country, the agreement and the provisions made for implementing it shall, notwithstanding anything contained
in any other law for the time being in force, have effect in so far as they provide for-
(a) relief from the tax payable under this Ordinance;
(b) determining the income accruing or arising, or deemed to be accruing or arising, to non-residents from
sources within Bangladesh;
(c) where all the operations of business or profession are not carried on within Bangladesh, determining the
income attributable to operations carried on within or outside Bangladesh, or the income chargeable to tax in
Bangladesh in the hands of non-residents, including their agencies, branches or establishments in Bangladesh;
(d) determining the income to be attributable to any person resident in Bangladesh having any special
relationship with a non-resident;
(e) recovery of tax leviable under this Ordinance and under the corresponding law in force in that country; or
(f) exchange of information for the prevention of fiscal evasion or avoidance of tax on income chargeable
under this Ordinance and under the corresponding law in force in that country.
(3) Any agreement made in pursuance of sub-section (1) may include provisions for relief from tax for any
period before the commencement of this Ordinance or before the making of the agreement and provisions as
to incomes which are not themselves subject to double taxation.
(4) The provisions of the Seventh Schedule shall have effect where an agreement under this section provides
that the tax payable under the laws of the country concerned shall be allowed as a credit against the tax
payable in Bangladesh.

Relief in respect of income arising outside Bangladesh (Section-145)

145. If any person who is resident in Bangladesh in any year proves to the satisfaction of the Deputy
Commissioner of Taxes that, in respect of any income which has accrued or arisen to him during that year
outside Bangladesh, he has paid tax, by deduction or otherwise, in any country with which there is no
reciprocal arrangement for relief or avoidance of double taxation, the Deputy Commissioner of Taxes may,
subject to such rules as the Board may make in this behalf, deduct from the tax payable by him under this
Ordinance a sum equal to the tax calculated on such doubly taxed income at the average rate of tax of
Bangladesh or the average rate of tax of the said country, whichever is the lower.
Explanation.-The expression “average rate of tax” means the rate arrived at by dividing the amount of tax
calculated on the total income by such income.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 121
 CHAPTER XVIII
REFUNDS

Entitlement to refund (Section-146)

146. (1) A person, who satisfies the Deputy Commissioner of Taxes or other authority appointed by the
Government in this behalf that the amount of tax paid by him or on his behalf, or treated as paid by him or on
his behalf, for any year exceeds the amount with which he is properly chargeable under this Ordinance for that
year, shall be entitled to a refund of any such excess.
(2) Where the income of the person is included under any provision of this Ordinance in the total income of
any other person, such other person alone shall be entitled to a refund under this Chapter in respect of such
income.

Claim of refund for deceased or disabled persons (Section-147)

147. Where through death incapacity, insolvency, liquidation or other cause, a person, is unable to claim or
receive any refund due to him, his legal representative, or the trustee, guardian or receiver, as the case may be,
shall be entitled to claim or receive such refund for the benefit of such person or his estate.

Correctness of assessment, etc, not to be questioned (Section-148)

148. In any claim for refund under this Chapter, it shall not be open to the claimant to question the correctness
or validity of any assessment or other matter which has become final and conclusive or to ask for a review of
the same, and the claimant shall not be entitled to any relief on any such issue raised except refund of the tax
paid in excess.

Refund on the basis of orders in appeal (Section-149)

149. Where, as a result of any order passed in appeal or other proceeding under this Ordinance, refund of any
amount becomes due to an assessee, the Deputy Commissioner of Taxes shall, 737[ refund the amount, unless
set off against tax or treated as payment of tax as per provisions of section 152,] to 738[ the assessee, 739[
within sixty days] from the date on which the refund has become due] without his having to make any claim in
that behalf.

Form of claim and limitation (Section-150)

150. (1) Every claim for refund 740[ under sections 146 and 147] shall be made in such form and verified in
such manner as may be prescribed.
(2) [Omitted by section 60 of অথ আইন,
ি ২০০২ (২০০২ সননর ১৪ নং আইন).]

Interest on delayed refund (Section-151)

151. Where a refund due to an assessee is not paid within two months of the date of the 741[ * * *] 742[ claim
for refund or refund becoming due consequent upon any order passed in appeal or other proceeding under this
Ordinance] interest at the rate of 743[ seven and a half per cent] per annum shall be payable to the assessee on
the amount of refund from the month following the said two months to the date of issue of the refund.

Adjustment of refund against tax (Section-152)

152. Where, under the provisions of this Ordinance, the Income-tax Act, 1922 (XI of 1922), the Gift-tax Act,
1963 (XIV of 1963), or the Wealth-tax Act, 1963 (XV of 1963), any refund or repayment is found to be due
to any person, the amount to be refunded or repaid or any part thereof may be set off against the tax, payable
by that person under this Ordinance 744[ or treated, at the option in writing of that person, as payment of tax
payable under section 64 or section 74 thereof].

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 122
 CHAPTER XVIIIA
[SETTLEMENT OF CASES.- Omitted]

745[ Omitted] 152A, 152B, 152C, 152D and 152E [Omitted by section 61 of the Finance Act, 2002 (Act No. XIV of 2000)]

746 CHAPTER XVIIIB

Alternative Dispute Resolution (Section-152F)

Alternative Dispute Resolution

152F.(1) Notwithstanding anything contained in Chapter XIX any dispute of an assessee lying with any
income tax authority, Taxes Appellate Tribunal or Court may be resolved through Alternative Dispute
Resolution (hereinafter referred to as ADR) in the manner described in the following sections of this Chapter
and rules made thereunder.
(2) Board may, by notification in the official Gazette, specify the class or classes of assessees eligible for
ADR or extend the area or areas in which these provisions may be applied.
Commencement of ADR (Section-152G)
152G.The ADR as mentioned in this Chapter shall come into force on such date and in such class or classes of
assessees as the Board may determine by notification in the official Gazette.
Definition (Section-152H)
152H.For the purposes of this Chapter, unless the context otherwise requires-
(a) "authorised representative" means an authorised representative mentioned in sub-section (2) of section 174;
(b) "bench" means bench of Taxes Appellate Tribunal;
(c) "Commissioner's Representative" means an officer or officers nominated by the Commissioner of Taxes
from among the income tax authorities under section 3 to represent in the Alternative Dispute Resolution
process under this Chapter;
(d) "court" means the Supreme Court;
(e) "dispute" means an objection of an assessee regarding-
(i) assessment of income above the income declared by him in his return of income for the relevant year, or
(ii) order of an appellate authority under chapter XIX which results in assessment of income which is above
the declared amount in his return of income;
Application for alternative resolution of disputes (Section-152I)
152I.(1) Notwithstanding anything contained in Chapter XIX an assessee, if aggrieved by an order of an
income tax authority, may apply for resolution of the dispute through the ADR process.
(2) An assessee may apply for ADR of a dispute which is pending before any incometax authority, tribunal or
court.
(3) All cases dealt with under sub-section (2) are subject to permission of the concerned income tax authority
747[ , tribunal] or the court, as the case may be:
Provided that after obtaining such permission from the income tax authority, Tribunal or the court and upon
granting of such permission, the matter shall remain stayed during the ADR negotiation process.
(4) The application shall be submitted in such form, within such time, accompanied with such fees and
verified in such manner as may be prescribed.
(5) The application is to be submitted to the respective Appellate Joint Commissioner of Taxes or Appellate
Additional Commissioner of Taxes or Commissioner of Taxes (Appeals) or Taxes Appellate Tribunal, as the
case may be.
748[ (5A) The application may also be filed in such electronic, computer readable or machine readable form
and in such manner as may be specified by the Board by order in writing.]
(6) In the case of a dispute pending before either Division of the Supreme Court, the assessee shall obtain the
permission of the court prior to filing an application under sub-section (2), by filing an application before the
court which, upon such an application being made before it, may pass an order allowing the matter to proceed
to ADR, or otherwise as it deems fit.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 123
Stay of proceeding in case of pending appeal or reference at Appellate Tribunal or High Court Division
(Section-152II)
749[ 152II. Where an assessee has filed an application for ADR for any income year and for the same income
year, the Deputy Commissioner of Taxes has filed an appeal before the Appellate Tribunal or the
Commissioner has made a reference before the High Court Division and no decision has been made in that
respect by the Appellate Tribunal or High Court Division as the case may be, the proceeding of such appeal or
reference shall remain stayed till disposal of the application for ADR.]

Eligibility for application for ADR (Section-152J)

750[ 152J. An assessee shall not be eligible for application to ADR if he fails to pay tax payable under section
74 where the return of income for the relevant year or years has been submitted.]

Appointment of Facilitator and his duties and responsibilities (Section-152K)

152K. For the purposes of resolving a dispute in an alternative way, the Board may select or appoint
Facilitator and determine his 751[ fees,] duties and responsibilities by rules.
Rights and duties of the assessee for ADR (Section-152) (Section-152L)
152L.(1) Subject to subsection (2), the assessee applying for ADR shall be allowed to negotiate himself
personally or alongwith an authorized representative, with the Commissioner's Representative for the
concerned dispute under the facilitation and supervision of the Facilitator.
(2) The Facilitator may exempt the applicant-assessee from personally attending the negotiation process and
may be allowed to represent himself by an authorised representative, if he has sufficient reasons for his
absence.
(3) While submitting an application for ADR, the applicantassessee shall submit all related papers and
documents, disclose all issues of law and facts.
(4) The applicant-assessee shall be cooperative, interactive, fair and bonafide while negotiating for resolution.
(5) If the applicant-assessee makes any untrue declaration, submits any false document and obtains an order or
assessment on that basis, the order or assessment shall be set aside, if so detected, and appropriate legal action
be initiated against him.
(6) The applicant-assessee shall be liable to pay any taxes, if due as a result of negotiation with the time frame
as decided in the ADR.
Nomination and responsibility of the Commissioner's Representative in ADR (Section-152M)
152M. (1) The respective Commissioner of Taxes may nominate any income tax authority subordinate to him,
not below the rank of Deputy Commissioner of Taxes to represent him in the negotiation process of the ADR.
(2) The representative so nominated under sub-section (1) shall attend the meeting(s) of ADR negotiation
process and sign the agreement of such negotiation process, where an agreement is reached.
Procedures of disposal by the Alternative Dispute Resolution (Section-152N)
152N.(1) Upon receiving the application of ADR, the Facilitator shall forward a copy of the application to the
respective Deputy Commissioner of Taxes and also call for his opinion on the grounds of the application and
also whether the conditions referred to in sections 152I and 152J have been complied with.
(2) If the Deputy Commissioner of Taxes fails to give his opinion regarding fulfillment of the conditions
within 752[ five working days] from receiving the copy mentioned in clause (c) of sub-section (3), the
Facilitator may deem that the conditions thereto have been fulfilled.
(3) The Facilitator may-
(a) notify in writing the applicant and the Commissioner of Taxes or the Commissioner's Representative to
attend the meetings for settlement of disputes on a date mentioned in the notice;
(b) if he considers it necessary to do so, adjourn the meeting from time to time;
(c) call for records or evidences from the Deputy Commissioner of Taxes or from the applicant before or at
the meeting, with a view to settle the dispute; and
(d) before disposing of the application, cause to make such enquiry by any incometax authority as he thinks fit.
(4) The Facilitator will assist the applicant-assessee and the Commissioner's Representative to agree on
resolving the dispute or disputes through consultations and meetings.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 124
 Decision of the ADR (Section-152O)
152O. (1) A dispute, which is subject to this Ordinance, may be resolved by an Agreement either wholly or in
part where both the parties of the dispute accept the points for determination of the facts or laws applicable in
the dispute.
(2) Where an agreement is reached, either wholly or in part, between the assessee and the Commissioner's
Representative, the Facilitator shall record, in writing, the details of the agreement in the manner as may be
prescribed.
(3) The recording of every such agreement shall describe the terms of the agreement including any tax payable
or refundable and any other necessary and appropriate matter, and the manner in which any sums due under
the agreement shall be paid and such other matters as the Facilitator may think fit to make the agreement
effective.
(4) The agreement shall be void if it is subsequently found that it has been concluded by fraud or
misrepresentation of facts.
(5) The agreement shall be signed by the assessee and the Commissioner's Representative and the facilitator.
(6) Where no agreement, whether wholly or in part, is reached or the dispute resolution is ended in
disagreement between the applicantassessee and the concerned Commissioner's Representative for
noncooperation of either of the parties, the Facilitator shall communicate it, in writing recording reasons
thereof, within fifteen days from the date of disagreement, to the applicant and the Board, the concerned court,
Tribunal, appellate authority and income tax authority, as the case may be, about such unsuccessful dispute
resolution.
(7) Where the agreement is reached, recorded and signed accordingly containing time and mode of payment of
payable dues or refund, as the case may be, the Facilitator shall communicate the same to the assessee and the
concerned Deputy Commissioner of Taxes for compliance with the agreement as per provisions of this
Ordinance.
(8) No agreement shall be deemed have been reached if the Facilitator fails to make an agreement within 753[
two months] from the end of the month in which the application is filed.
(9) Where there is a successful agreement, the Facilitator shall communicate the copy of the agreement to all
the parties mentioned in sub-section (6) within fifteen days from the date on which the Facilitator and the
parties have signed the agreement.

Effect of agreement (Section-152P)

152P. (1) Notwithstanding anything contained in any provision of this Ordinance, where an agreement is
reached, under sub-section (9) of section 152O, it shall be binding on both the parties and it cannot be
challenged in any authority, Tribunal or court either by the assessee or any other income tax authority.
(2) Every agreement, concluded under section 152O shall be conclusive as to the matters stated therein and no
matter covered by such agreement shall, save as otherwise provided in this Ordinance, be reopened in any
proceeding under this Ordinance.

Limitation for appeal where agreement is not concluded (Section-152Q)

152Q.(1) Notwithstanding anything contained in any provision of this Ordinance, where an agreement is not
reached under this Chapter, wholly or in part, the assessee may prefer an appeal-
(a) to the Appellate Joint Commissioner of Taxes or Appellate Additional Commissioner of Taxes or
Commissioner of Taxes (Appeals), as the case may be, where the dispute arises out of an order of a Deputy
Commissioner of Taxes;
(b) to the Taxes Appellate Tribunal where the dispute arises out of an order of the Appellate Joint
Commissioner of Taxes or Appellate Additional Commissioner of Taxes or Commissioner of Taxes
(Appeals), as the case may be; and
(c) to the respective appellate authority or court from where the assessee-applicant has got permission to apply
for ADR.
(2) In computing the period of limitations for filing appeal, the time elapsed between the filing of the
application and the decision or order of the ADR shall be excluded.
754[ Explanation.- For the purpose of this section, “prefer an appeal” means the revival of the appeal with an
intimation in writing to the respective appellate authority.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 125
 Post verification of the agreement (Section-152R)
152R.(1) The Board may monitor the progress of disposal of the application for ADR in the manner as may be
prescribed and ensure necessary support and coordination services.
(2) Copies of all agreement or matter of disagreement shall be sent by the Facilitator to the respective
Commissioner and Board for verification and ascertainment of whether the agreement is legally and factually
correct.
(3) After receiving the copy of agreement or matter of disagreement, if it appears to the Board that the alleged
agreement is obtained by fraud, misrepresentation or concealment of fact causing loss of revenue, then such
agreement shall be treated as void and the matter shall be communicated to the concerned authorities, Tribunal
or court for taking necessary action.

Bar on suit or prosecution (Section-152S)

152S. No civil or criminal action shall lie against any person involved in the ADR process before any court,
tribunal or authority for any action taken or agreement reached in good faith.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 126
 CHAPTER XIX
APPEAL AND REFERENCE

Appeal against order of Deputy Commissioner of Taxes 755[ and Inspecting Joint Commissioner] (Section-
153)
“153. Appeal to appellate income tax authority.- (1) Any person aggrieved by order of an income tax authority
regarding the following matters may appeal to the respective appellate income-tax authority-
(i) assessment of income;
(ii) computation of tax liability or refund;
(iii) set off or carry forward of loss;
(iv) imposition of any penalty or interest;
(v) charge and computation of surcharge or any other sum;
(vi) credit of tax; and
(vii) payment of a refund.
(2) Subject to sub-section (3), an appeal in the following cases shall be made only to the Commissioner of
Taxes (Appeals)-
(i) appeal by a company;
(ii) appeal against an order under section 120;
(iii) appeal against an order of adjustment or penalty involving
international transactions as defined in 107A;
(iv) appeal against an order, in matters mentioned in sub-section (1),
made by an income tax authority in the rank of a Joint
Inserted F.A
2018 Commissioner of Taxes or above.
(3) The Board may-
(i) assign any appeal to any appellate income-tax authority;
(ii) transfer an appeal from one appellate income-tax authority to another appellate income-tax authority.
(4) No appeal shall lie in respect of an income which is computed as a share of the taxed income.
(5) No appeal shall lie against any order of assessment in the following cases-

(i) Where the return of if tax under section 74 has not been paid
income was filed

(ii) Where no return of if at least ten per cent of the tax as

income was filed determined by the Deputy Commissioner of
Taxes has not been paid:
Provided that where the tax on the basis of return has been paid by the appellant before filing the appeal and
the appellate income-tax authority is convinced that the appellant was barred by sufficient reason from paying
the tax before filing the return, it may allow the appeal for hearing.
Explanation.- In this section, appellate income-tax authority means the Commissioner of Taxes (Appeals) or
the Appellate Joint Commissioner of Taxes, as the case may be.”।

Form of appeal and limitation (Section-154)

154. (1) Every appeal under section 153 shall be drawn up in such form and verified in such manner as may
be prescribed and shall be accompanied by a fee of 768[ two hundred taka].
769[ (1A) The Board may, by notification in the official Gazette,-
(a) specify 770[ the cases in which the appeal] shall be filed electronically or in any other machine readable or
computer readable media;
(b) specify the form and manner in which such appeal shall be filed.]
(2) Subject to sub-section (3), an appeal shall be presented within 771[ forty five days],-

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 127
 (a) if it relates to any assessment or penalty, from the date of service of the notice of demand relating to the
assessment or penalty, as the case may be; and
(b) in any other case, from the date on which the intimation of the order to be appealed against is served.

(3) The Appellate Joint Commissioner 772[ or the Commissioner (Appeals), as the case may be,] may admit
an appeal after the expiration of the period of limitation specified in sub-section (2) if he is satisfied that the
appellant was prevented by sufficient cause from presenting the appeal within that period.
Procedure in appeal before the Appellate Joint Commissioner 773[ or the Commission (Appeals)] (Section-
155)
155. (1) The Appellate Joint Commissioner 774[ or the Commissioner (Appeals)] shall fix a day and place for
the hearing of the appeal and give notice thereof to the appellant and the Deputy Commissioner of Taxes
against whose order the appeal has been preferred.
(2) The appellant and the Deputy Commissioner of Taxes shall have the right to be heard at the hearing of the
appeal either in person or by a representative.
(3) The Appellate Joint Commissioner 775[ or the Commissioner (Appeals)] may, if he considers it necessary
to do so, adjourn the hearing of the appeal from time to time.
(4) The Appellate Joint Commissioner 776[ or the Commissioner (Appeals)] may, before or at the hearing of
an appeal, allow the appellant to go into any ground of appeal not earlier specified in the grounds of appeal
already filed if he is satisfied that the commission of that ground from the form of appeal was not wilful or
unreasonable.
(5) The Appellate Joint Commissioner 777[ or the Commissioner (Appeals)] may, before or at the hearing of
an appeal, make such enquiry as he thinks fit or call for such particulars as he may require respecting the
matters arising in appeals or cause further enquiry to be made by the Deputy Commissioner of Taxes.

(6) While hearing an appeal the Appellate Joint Commissioner 778[ or the Commissioner (Appeals)] shall not
admit any documentary material or evidence which was not produced before the Deputy Commissioner of
Taxes unless he is satisfied that the appellant was prevented by sufficient cause from producing such material
or evidence before the Deputy Commissioner of Taxes.

Decision in appeal by the Appellate Joint Commissioner 779[ or the Commission (Appeals)] (Section-156)
156. (1) In disposing of an appeal, the Appellate Joint Commissioner 780[ or the Commissioner (Appeals)]
may-
(a) in the case of an order of assessment, confirm, reduce, enhance, set aside or annual the assessment;
(b) in the case of an order imposing a penalty, confirm, set aside or cancel such order or vary it so as either to
enhance or to reduce the penalty; and
(c) in any other case, pass such order as he thinks fit 781[ :
Provided that an order of assessment or penalty shall not be set aside except in a case where the Appellate
Joint Commissioner or the Commissioner (Appeals) is satisfied that a notice on the assessee has not been
served in accordance with the provisions of section 178.]
(2) The Appellate Joint Commissioner 782[ or the Commissioner (Appeals)] shall not enhance as assessment
or a penalty or reduce the amount of refund unless the appellant has been given a reasonable opportunity of
showing cause against such enhancement or reduction.
(3) The order of the Appellate Joint Commissioner 783[ or the Commissioner (Appeals)] disposing of an
appeal shall be in writing and shall state the points for determination, the decision thereon and the reasons for
the decision.
(4) Where, as a result of an appeal, any charge is made in the assessment of a firm or an association of
persons, the Appellate Joint Commissioner 784[ or the Commissioner (Appeals)] may direct the Deputy
Commissioner of Taxes to amend accordingly any assessment made on any partner of the firm or any member
of the association.
(5) On the disposal of an appeal, the Appellate Joint Commissioner 785[ or the Commissioner (Appeals)]
shall communicate the order passed by him to the appellant, the Deputy Commissioner of Taxes and the
Commissioner 786[ within 787[ thirty days] of the passing of such order].

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 128
(6) Notwithstanding anything contained in this Ordinance, an appeal to the Appellate Joint Commissioner [or
the Commissioner (Appeals)] shall be deemed to have been allowed if the Appellate Joint Commissioner 788[
or the Commissioner (Appeals)] fails to make an order thereon within789[ one hundred and fifty days from
the end of the month] on which the appeal was filed. 790[

Appeal against order of Tax Recovery Officer (Section-157)

157. Any person aggrieved by an order of the Tax Recovery Officer under section 139 may, within thirty days
from the date of service of the order, appeal to the Inspecting Joint Commissioner to whom the Tax Recovery
Officer is subordinate, and the decision of the Inspecting Joint Commissioner on such appeal shall be final.

Appeal to the Appellate Tribunal (Section-158)

158. (1) An assessee may appeal to the Appellate Tribunal if he is aggrieved by an order of-
(a) an Appellate Joint Commissioner 791[ or the Commissioner (Appeals), as the case may be,] under section
128 or 156;
793[ (2) No appeal under sub-section (1) shall lie against an order of the Appellate Joint Commissioner or the
Commissioner (Appeals), as the case may be, unless the assessee has paid 794[ ten percent] of the amount
representing the difference between the tax as determined on the basis of the order of the Appellate Joint
Commissioner or the Commissioner (Appeals), as the case may be, and the tax payable under section795[ :

Provided that on an application made in this behalf by the assessee, the Commissioner of Taxes, may reduce,
the requirement of such payment if the grounds of such application appears reasonable to him.]
796[ (2A) The Deputy Commissioner of Taxes may, 797[ with the prior approval of the Commissioner of
Taxes], prefer an appeal to the Appellate Tribunal against the order of an Appellate Joint Commissioner, or
the Commissioner (Appeals) under section 156.]
(3) [Omitted by section 63 of অথ আইন,
ি ২০০২ (২০০২ সননর ১৪ নং আইন)].
798[ (4) Every appeal under 799[ sub-section (1) or sub-section (2A)] 800[ * * *] shall be filed within sixty
days of the date on which the order sought to be appealed against is communicated to the assessee or to the
commissioner, as the case may be:
Provided that the Appellate Tribunal may admit an appeal after the expiry of sixty days if it is satisfied that
there was sufficient cause for not presenting the appeal within that period.]
(5) An appeal to the Appellate Tribunal shall be in such form and verified in such manner as may be
prescribed 801[ and shall, except in the case of an appeal under sub-section (2A)] 802[ * * *] be accompanied
by a fee of 803[ one thousand] taka.
804[ (6) The Board may, by notification in the official Gazette,-
(a) specify 805[ the cases in which the appeal] shall be filed electronically or in any other machine readable or
computer readable media;
(b) specify the form and manner in which such appeal shall be filed.]

Disposal of appeal by the Appellate Tribunal (Section-159)

159. (1) The Appellate Tribunal may, after giving both the parties to the appeal an opportunity of being heard,
pass such orders on the appeal as it thinks fit.
(2) Before disposing of any appeal, the Appellate Tribunal may call for such particulars as it may require
respecting the matters arising in the appeal or cause further enquiry to be made by the Deputy Commissioner
of Taxes.
(3) Where, as a result of the appeal, any change is made in the assessment of a firm or association of persons,
or a new assessment of a firm or association of person, is ordered to be made, the Appellate Tribunal may
direct the Deputy Commissioner of Taxes to amend accordingly any assessment made on any partner of the
firm or any member of the association.
(4) The Appellate Tribunal shall communicate its order on the appeal 806[ to the assessee and to the
Commissioner within 807[ thirty days] from the date of such order].
(5) Save as hereafter provided in this Chapter, the orders passed by the Appellate Tribunal on appeal shall be
final.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 129
808[ (6) Notwithstanding anything contained in this Ordinance an appeal filed by an assessee to the Appellate
Tribunal shall be deemed to have been allowed if the Appellate Tribunal fails to make an order thereon within
a period of 809[ six months] from the end of the month in which the appeal was filed 810[ , and where a case
is heard by two members and an additional member is appointed for hearing the case because of the difference
of decision of the two members, the period shall be eight months from the end of the month in which the
appeal was filed]]:
Provided that the provisions of this sub-section shall not apply to an appeal filed by an assessee at any time
before the 1st day of July, 1991811[ :
Provided further that the provisions of this sub-section shall, in relation to an appeal filed by an assessee at
any time during the period between the first day of July, 1995 and the thirtieth day of June, 1996 (both days
inclusive), have effect as if for the words “two years” the words “three years” were substituted on the day on
which section 21 of অথ আইন,ি ১৯৯১ (১৯৯১ সোনলর ২১ নং আইন)) came into force 812[ :
Provided further that the provisions of this sub-section shall, in relation to an appeal filed by an assessee on or
after the first day of July, 1999, have effect as if for the words “two years from the end of the year” the words
“two years from the end of the month” were substituted 813[ :
Provided further that the provisions of this sub-section shall, in relation to an appeal filed by an assessee
before the first day of July, 2002, have effect as if the words “six months from the end of the month in which
appeal was filed” were substituted by the words “one year from the end of the year in which appeal was filed:
Provided further that the appeals filed by the Deputy Commissioner of Taxes on or before the thirtieth day of
June, 2002 on which no order was passed by the Appellate Tribunal till that date shall be deemed to have been
withdrawn from first of July, 2002]] 814[

Reference to the High Court Division (Section-160)

160. (1) The assessee or the Commissioner may, 815[ within ninety days] from the date of receipt of the order
of the Appellate Tribunal communicated to him under section 159, by application in the prescribed form,
accompanied, in the case of an application by the assessee, by a fee of 816[ two thousand taka], refer to the
High Court Division any question of law arising out of such order 817[ :
818[ Provided that no reference under sub-section (1) shall lie against an order of the Taxes Appellate
Tribunal, unless the assessee has paid the following tax at the rate of-
(a) 819[ fifteen per cent] of the difference between the tax as determined on the basis of the order of the Taxes
Appellate Tribunal and the tax payable under section 74 where tax demand does not exceed one million taka;

(b) 820[ twenty five per cent] of the difference between the tax as determined on the basis of the order of the
Taxes Appellate Tribunal and the tax payable under section 74 where tax demand exceeds one million taka:]
Provided further that the Board may, on an application made in this behalf, modify or waive, in any case, the
requirement of such payment.]
(2) An application under sub-section (1) shall be in triplicate and shall be accompanied by the following
documents, namely:-
(a) certified copy, in triplicate, of the order of the Appellate Tribunal out of which the question of law has
arisen;
(b) certified copy, in triplicate, of the order of the Deputy Commissioner of Taxes, the Inspecting Joint
Commissioner or the Appellate Joint Commissioner 821[ or the Commissioner (Appeals)], as the case may be,
which was the subject-matter of appeal before the Appellate Tribunal; and
(c) certified copy, in triplicate, of any other document the contents of which are relevant to the question of law
formulated in the application and which was produced before the Deputy Commissioner of Taxes, the
Inspecting Joint Commissioner, the Appellate Joint Commissioner 822[ or the Commissioner (Appeals)] or
the Appellate Tribunal, as the case may be, in the course of any proceedings relating to any order referred to
in clause (a) or (b).
(3) Where the assessee is the applicant, the Commissioner shall be made a respondent; and where the
Commissioner is the applicant the assessee shall be made a respondent:

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 130
Provided that where an assessee dies or is succeeded by another person or is a company which is being wound
up, the application shall not abate and may, if the assessee was the applicant, be continued by, and if he was
the respondent, be continued against, the executor, administrator or successor or other legal representative of
the assessee, or by a against the liquidator or receiver, as the case may be.
(4) On receipt of the notice of the date of hearing of the application, the respondent shall, at least seven days
before the date of hearing submit in writing a reply to the application; and he shall therein specifically admit
or deny whether the question of law formulated by the applicant arises out of the order of the Appellate
Tribunal.
(5) If the question formulated by the applicant is, in the opinion of the respondent, defective, the reply shall
state in what particular the question is defective and what is the exact question of law, if any, which arises out
of the said order; and the reply shall be in triplicate and he accompanied by any documents which are relevant
to the question of law formulated in the application and which were produced before the Deputy
Commissioner of Taxes, the Inspecting Joint Commissioner, the Appellate Joint Commissioner 823[ , the
Commissioner (Appeals)] or the Appellate Tribunal, as the case may be, in the course of any proceedings
relating to any order referred to in sub-section (2)(a) or (b).

(6) Section 5 of the Limitation Act, 1908 (IX of 1908), shall apply to an application under sub-section (1).

Decision of the High Court Division (Section-161)

161. (1) Where any case has been referred to the High Court Division under section 160, it shall be heard by a
Bench of not less than two judges and the provisions of section 98 of the Code of Civil Procedure, 1908 (V of
1908), shall, so far as may be, apply in respect of such case.
(2) The High Court Division shall, upon hearing any case referred to it under section 160, decide the
questions of law raised thereby and shall deliver its judgment thereon stating the grounds on which such
decision is founded and shall send a copy of such judgment under the seal of the Court and the signature of
the Registrar to the Appellate Tribunal which shall pass such orders as are necessary to dispose of the case in
conformity with the judgment.
(3) The costs in respect of a reference to the High Court Division under section 160 shall be in the discretion
of the Court.
(4) Notwithstanding that a reference has been made under section 160 to the High Court Division, tax shall be
payable in accordance with the assessment made in the case unless the recovery thereof has been stayed by the
High Court Division.

Appeal to the Appellate Division (Section-162)

162. (1) An appeal shall lie to the Appellate Division from any judgment of the High Court Division delivered
under section 161 in any case which the High Court Division certifies to be a fit one for appeal to the
Appellate Division 824[ :
(2) The provisions of the Code of Civil Procedure, 1908 (Act V of 1908), relating to appeals to the Appellate
Division shall, so far as may be, apply in the case of appeals under this section in like manner as they apply in
the case of appeals from decrees of the High Court Division:
Provided that nothing in this sub-section shall be deemed to affect the provision of section 161(2) or (4):
Provided further that the High Court Division may, on petition made for the execution of the order of the
Appellate Division in respect of any costs awarded thereby, transmit the order for execution to any Court
subordinate to the High Court Division.
(3) Where the judgment of the High Court Division is varied or reversed in appeal under this section, effect
shall be given to the order of the Appellate Division in the manner provided in section 161 (2) and (4) in
respect of a judgment of the High Court Division.
(4) The provisions of sub-section (3) and sub-section (4) of section 161 relating to costs and payment of tax
shall apply in the case of an appeal to the Appellate Division as they apply to a reference to the High Court
Division under section 160.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 131
 CHAPTER XX
PROTECTION OF INFORMATION

Statement, returns, etc, to be confidential (Section-163)

163. (1) Save as provided in this section, all particulars or information contained in the following shall be
confidential and shall not be disclosed, namely:-
(a) any statement made, return furnished or accounts or documents produced under the provisions of this
Ordinance;
(b) any evidence given, or affidavit or deposition made, in the course of any proceedings under this Ordinance
other than proceedings under Chapter XXI;
(c) any record of any assessment proceedings or any proceeding relating to the recovery of demand under this
Ordinance.
(2) Notwithstanding anything contained in the Evidence Act, 1872 (I of 1872), or any other law for the time
being in force, no Court or other authority shall, save as provided in this Ordinance, be competent to require
any public servant to produce before it any return, accounts or documents contained in, or forming a part of,
the records relating to any proceeding under this Ordinance or to given evidence before it in respect thereof.
(3) The prohibition under sub-section (1) shall not apply to the disclosure of-
(a) any particulars, or in respect of any statement, return, accounts, documents, evidence, affidavit or
deposition required for the purposes of prosecution of an offence under this Ordinance, the Penal Code (XLV
of 1860), or the Foreign Exchange Regulation Act, 1947 (VII of 1947);
(b) any particulars or information which is necessary for the purposes of this Ordinance to any person acting
in the execution of this Ordinance, or of any particulars to any person being an expert whose services have
been placed at the disposal of the Government by any international organisation of which Bangladesh is a
member;
(c) any particulars or information which is occasioned by the lawful employment under this Ordinance of any
process for the service of any notice or the recovery of any demand;
(d) any particulars of the amount due from an assessee under this Ordinance by the Board or any officer
authorised by it, or by the Commissioner, to any department of the Government, local authority, bank,
corporation or other organisation for the purpose of the recovery of any demand;
(e) any particulars to a Civil Court in any suit which relates to any matter arising out of any proceeding under
this Ordinance and to which Government is a party;
(f) any particulars to the Comptroller and Auditor-General of Bangladesh for the purpose of enabling him to
discharge his functions under the Constitution;
(g) any particulars to any officer appointed by the Comptroller and Auditor-General of Bangladesh or the
Board for the purpose of auditing tax receipts or refunds;
(h) any particulars relevant to any inquiry into the conduct of any official of the income tax department to any
person appointed to hold such inquiry or to a Public Service Commission established under the Constitution
when exercising its functions in relation to any matter arising out of any such inquiry;
(i) any particulars relevant to any inquiry into a charge of misconduct in connection with income tax
proceedings against a lawyer, a chartered accountant or a cost and management accountant to any authority
empowered to take disciplinary action against such lawyer, chartered accountant or cost and management
accountant;
(j) any particulars by a public servant where the disclosure is occasioned by the lawful exercise by him of the
powers under the Stamp Act, 1899 (II of 1899), to impound an insufficiently stamped document;
(k) any facts to an authorised officer of the Government of any country outside Bangladesh with which the
Government of the People's Republic of Bangladesh has entered into an agreement for the avoidance of
double taxation and the prevention of fiscal evasion where such disclosure is required under the terms of the
agreement;
(l) any such facts to any officer of the Government as may be necessary for the purpose of enabling the
Government to levy or realise any tax imposed by it;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 132
 826[ (m) any such facts to any authority exercising power under the Excise and Salt Act, 1944 (I of 1944), the
Gift-tax Act, 1963 (XIV of 1963), দোন র আইন, ১৯৯০ (১৯৯০ সননর ২২ নং আইন), the Wealth-tax Act,
1963 (XV of 1963), the Customs Act, 1969 (IV of 1969), the Sales tax Ordinance, 1982 (XVIII of 1982) or
827[ , মূল্ সংন োেন র আইন, ১৯৯১ (১৯৯১ সননর ২২ নং আইন) or মূল্ সংন োেন র ও সম্পূর
শুল্ক আইন, ২০১২ (২০১২ সননর ৪৭ নং আইন) ] as may be necessary for the purpose of enabling it duly to
exercise such powers;]
(n) so much of any such particulars, to the appropriate authority as may be necessary to establish whether a
person has or has not been assessed to income tax in any particular year or years, where, under the provisions
of any law for the time being in force, such fact is required to be established;
(o) any such particulars to the Bangladesh Bank as are required by that Bank to enable it to discharge its
functions under the foreign exchange control laws or to compile financial statistics of international
investments and balance of payments;
(p) any such information as may be required by any officer or department of the Government for the purpose
of investigation into the conduct and affairs of a public servant; 828[ ***]
829[ (pp) any such information as may be required for the purpose of investigation relating to money
laundering and terrorist financing if the information is requested by the authority responsible for giving
approval to a prosecution relating to money laundering and terrorist financing;]
(q) any such particulars as may be required by any order made under section 19(2) of the Foreign Exchange
Regulation Act, 1947 (VII of 1947)830
Inserted F.A (r) a list of highest taxpayers or distinguished taxpayers in accordance with rules made or guidelines issued
2018 by the board on this behalf;”;
(s) the particulars of any assessee mentioned in the certificate issued under section 184B to any person or
authority mentioned in sub-section (1) of section 184A for the purpose of verifying the authenticity of the
twelve-digit Taxpayer’s Identification Number (TIN).]] or”
Inserted F.A
“(t) any information required to furnish under section 108A.”।
2018

(4) Nothing in this section shall apply to the production by a public servant before a Court of any document,
declaration or affidavit filed, or the record of any statement or deposition made in a proceeding under section
90 or 111, or to the giving of evidence by a public servant in respect thereof.
(5) Any person to whom any information is communicated under this section, and any person or employee
under his control, shall in respect of that information, be subject to the same rights, privileges, obligations and
liabilities as if he were a public servant and all the provisions of this Ordinance shall, so far as may be, apply
accordingly.
(6) This section shall not be construed as prohibiting the voluntary disclosure of any particulars referred to in
sub-section (1) by the person by whom the statement was made, return furnished, accounts or documents
produced, evidence given or affidavit or deposition made, as the case may be.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 133
 CHAPTER XXI
OFFENCES AND PROSECUTION

Punishment for non-compliance of certain obligations (Section-164)

164. A person is guilty of an offence punishable with imprisonment for a term which may extend to one year,
or with fine, or with both, if he, without reasonable cause,-
(a) fails to deduct 832[ or collect] and pay any tax as required under the provisions of Chapter VII except
advance payment of tax or fails to deduct and pay tax as required under section 143(2);
(b) fails to produce, or cause to be produced, on or before the date mentioned in any notice under Chapter
VIII, or under section 83, such accounts, documents or statements as are referred to in such notice;
(c) fails to furnish, in due time, the return of income which he is required to furnish under section 75, or by
notice given under section 77 or 93;
833[ (cc) refuses to furnish such information as may be necessary under section 113;]
(d) refuses to permit inspection or to allow copies to be taken in accordance with the provisions of section 114;
(e) fails to afford necessary facilities or to furnish the required information to an income tax authority
exercising powers under section 115; 834[***
(ee) fails to comply with the requirement under sub-section (1) of section 116;
(eee) fails to comply with the order made under sub-section (1) of section 116A; or]
(f) refuses to permit or in any manner obstructs the exercise of powers under section 117 by an Income tax
authority.

Punishment for false statement in 835[] (Section-165)

165. A person is guilty of an offence punishable with imprisonment for a term which may extend to three
years, 836[ but shall not be less than three months] or with fine, or with both, if he-
(a) makes a statement in any verification, etc. in any return or any other document furnished under any
provisions of this Ordinance which is false 837[ * * *];
(b) knowingly and wilfully aids, abets, assists, incites or includes another person to make or deliver a false
return, account, statement, certificate or declaration under this Ordinance, or himself knowingly and wilfully
makes or delivers such false return, account, statement, certificate or declaration on behalf of another person
838[ ;
(c) signs and issues any certificate mentioned in the first or second proviso to section 82 which he either
knows or believes to be false or does not believe to be true 839[ ;
(d) refuses to furnish such information as may be necessary for the purpose of survey under section 115.]]

Punishment for improper use of Tax-payer's Identification Number (Section-165A)

840[ 165A. - A person is guilty of an offence punishable with imprisonment for a term which may extend to
three years or with fine up to taka fifty thousand or both, if he deliberately uses or used a fake Tax-payer's
Identification Number (TIN) or a Tax-payer's Identification Number (TIN) of another person.]

Punishment for furnishing fake audit report (Section-165AA)

841[ 165AA. A person is guilty of an offence punishable with imprisonment for a term which may extend to
three years, but shall not be less than three months, or with fine upto taka one lakh, or both, if he furnishes
along with the return of income or thereafter any audited statement of accounts which is false or does not
conform with signature of a chartered accountant purported to be signatory to such statement.]

Punishment for obstructing an income tax authority (Section-165B)

842[ 165B. A person who obstructs an income tax authority in discharge of functions under this Ordinance
shall commit an offence punishable with imprisonment for a term not exceeding one year, or with a fine, or
with both.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 134
 Punishment for unauthorised employment (Section-165C)
843[ 165C. A person is guilty of an offence punishable with imprisonment for a term which may extend to
three years, but shall not be less than three months, or with fine up to taka five lakh, or both, if he employs or
allows to work any individual not being a Bangladeshi citizen without prior approval from Board of
Investment or any competent authority of the government as the case may be.]

Punishment for concealment of income, etc (Section-166)

166. A person is guilty of an offence punishable with imprisonment which may extend to five years 844[ but
shall not be less than three months], or with fine, or with both, if he conceals the particulars, or deliberately
furnishes inaccurate particulars, of his income.
“166A. Punishment for providing false information, etc.- A person is guilty of an offence punishable with
imprisonment which may extend to three years or with fine, or with both, if he is in possession of any
Inserted F.A information in relation to an assessee and after being required to furnish the information to an income tax
2018 authority under this Ordinance -
(a) conceals the information; or
(b) deliberately furnishes inaccurate information.”।

Punishment for disposal of property to prevent attachment (Section-167)

167. The owner of any property, or a person acting on his behalf or claiming under him, is guilty of an offence
punishable with imprisonment for a term which may extend to five years, or with fine, or with both, if he sells,
mortgages, charges, leases or otherwise so deals with the property after the receipt of a notice from the Tax
Recovery Officer as to prevent its attachment by that officer.

Punishment for disclosure of protected information (Section-168)

168. A public servant, or any person assisting, or engaged, by any person acting in the execution of this
Ordinance, is guilty of an offence punishable with imprisonment for a term which may extend to six months,
or with fine, if he discloses any particulars or information in contravention of the provisions of section 163.

Sanction for prosecution (Section-169)

169. (1) No prosecution for an offence punishable under any provisions of this Chapter shall be instituted
except with the previous sanction of the Board.
(2) [Omitted by section 6 of অথ আইন,
ি ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন).]
“169A. Further enquiry and investigation, etc. for prosecution.- The Deputy Commissioner of Taxes, with
prior approval of the Commissioner of Taxes, may make such enquiry and investigation, in addition to the
Inserted F.A
enquiry already made under this Ordinance, as may be necessary for the purpose of prosecution of an
2018
offence under this Chapter or a tax related offence ( Ki msµvš— Aciva) under .gvwb jÛvwis c«wZ‡iva AvBb,2012 (2012
m‡bi 5 bs AvBb ).”
Power to compound offences (Section-170)
170. 845[ The Board may], either before or after the institution of any proceedings or prosecution for an
offence punishable under this Chapter, compound such offence.
Trial by Special Judge (Section-171)
171. (1) Notwithstanding anything contained in the Code of Criminal Procedure, 1898 (Act V of 1898), or in
any other law for the time being in force, an offence punishable under this Chapter, other than an offence
under section 168, shall be tried by a Special Judge appointed under theCriminal Law Amendment Act, 1958
(XL of 1958), as if such offence were an offence specified in the Schedule to that Act.
(2) A Special Judge shall take cognizance of, and have jurisdiction to try, an offence triable by him under sub-
section (1) only upon a complaint in writing made, after obtaining the sanction under section 169, by the
Deputy Commissioner of Taxes-
(a) who is competent to make assessment under this Ordinance in the case to which the offence alleged to
have been committed relates, and
(b) whose office is situated within the territorial limits of the jurisdiction of the Special Judge.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 135
 CHAPTER XXII
MISCELLANEOUS

Relief when salary, etc, is paid in arrear or advance (Section-172)

172. Where the income of an assessee is assessable at a rate higher than that at which it would otherwise have
been assessed by reason of-
(a) any portion of his salary being paid in arrears or in advance, or
(b) his having received in any one financial year salary for more than twelve months, or
(c) his having received a payment which is a profit in lieu of salary, or
(d) his having received in arrears in one income year any portion of his income from interest on securities
relatable to more income years than one;
the Deputy Commissioner of Taxes may, on an application made to him in this behalf, determine the tax
payable as if the salary, payment or interest had been received by the assessee during the income year or years
to which it relates and may refund the amount of tax, if any, paid in excess of the tax so determined.

Correction of errors (Section-173)

173. 846[ (1) Where an income tax authority or the Appellate Tribunal finds by own motion or based on
written application from the assessee or information from any other source that an error apparent from record
has been made in any order passed by it, the income tax authority or the Appellate Tribunal may amend the
error by order in writing:
Provided that no amendment under this sub-section shall be made after the expiration of four years from the
date of the order sought to be amended.
(1A) Where an assessee, by an application in writing in relation to an assessment year, brings to the notice of
the Deputy Commissioner of Taxes of the claim that-
(a) a sum payable under this Ordinance has been paid in amount higher than the due amount, or
(b) the due credit of a sum paid under this Ordinance has not been given,
the Deputy Commissioner of Taxes shall give credit of the amount in the assessment year in which the sum
was to be given credit if the claim of the assessee is found valid and correct after due verification.]
(2) No amendment under sub-section (1) which has the effect of enhancing an assessment or reducing a
refund or otherwise increasing the liability of the assessee shall be made unless the parties affected thereby
have been given a reasonable opportunity of being heard.
(3) Where any such error as is referred to in sub-section (1) is brought to the notice of the authority concerned
by the assessee and no amendment is made by such authority within the financial year next following the date
in which the error is brought to its notice, the amendment under that sub-section shall be deemed to have been
made so as to correct the error and all the provisions of this Ordinance shall have effect accordingly.
(5) Where in respect of any completed assessment of a partner in a firm it is found on the assessment of the
firm or on any reduction or enhancement made in the income of the firm under sections 120, 848[ 121A], 156,
159, 161 or 162 that the share of the partner in the profit or loss of the firm has not been included in the
assessment of the partner, or, if included, is not correct, the inclusion of the share in the assessment or the
correction thereof, as the case may be, shall be deemed to be correction of an error apparent from the record
within the meaning of this section, and the provisions of sub-section (1) shall apply thereto accordingly, the
period of four years referred to in sub-section (4) being computed from the date of the final order passed in
the case of the firm.
(6) Where as a result of proceedings initiated under section 93, a firm or an association of persons is assessed,
and the Deputy Commissioner of Taxes concerned is of opinion that it is necessary to compute the total
income of a partner in the firm or a member of the association of persons, as the case may be, the Deputy
Commissioner of Taxes may proceed to compute the total income and determine the sum payable on the basis
of such computation as if the computation is a correction of an error apparent from the record within the
meaning of this section, and the provisions of sub-section (1) shall apply accordingly, the period of four years
specified in sub-section (4) being reckoned from the date of the final order passed in the case of the firm or
association of persons, as the case may be.
(7) Subject to the provisions of sub-section (3) where an amendment is made under this section, an order shall
be passed in writing by the income tax authority concerned or the Appellate Tribunal, as the case may be.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 136
 Place of assessment (Section-173A)
849[ 173A. (1) Where an assessee carries on a business, profession or vocation at any place, he shall be
assessed by the Deputy Commissioner of Taxes of the area in which that place is situate or, where the
business, profession or vocation is carried on in more places than one, by the Deputy Commissioner of Taxes
of the area in which the principal place of his business, profession or vocation is situate.
(2) In all other cases, an assessee shall be assessed by the Deputy Commissioner of Taxes of the area in which
he resides.
(3) Where any question arises under this section as to place of assessment, such question shall be determined
by the Commissioner, or, where the question is between places in areas within the jurisdiction of more
Commissioners than one, by the Commissioners concerned, or, if they are not in agreement, by the National
Board of Revenue:
Provided that, before any such question is determined, the assessee shall have had an opportunity of
representing his views.
(4) No person shall be entitled to call in question the jurisdiction of a Deputy Commissioner of Taxes after he
has made the return of total income or where he has not made such return, after the time allowed by the notice
served on him for making such return has expired.]

Appearance by authorised representative (Section-174)

174. (1) Any assessee, who is entitled or required to appear before any income tax authority or the Appellate
Tribunal in connection with any proceedings under this Ordinance, may, except when required under section
122 to attend personally, appear by an authorised representative.
(2) For the purpose of this section, “authorised representative” means a person, authorised in writing by the
assessee to appear on his behalf, being-
(a) a relative of the assessee who is his parent, spouse, son, daughter, brother or sister;
(b) a whole time regular employee of the assessee;
(d) a legal practitioner who is entitled to practice in a Civil Court in Bangladesh;
(e) a chartered accountant or a cost and management accountant or a member of an association of accountants
recognised in this behalf by the Board; or
(f) an income tax practitioner registered as such by the Board in accordance with the rules made in this behalf
and subject to such conditions as may be laid down in those rules 851[ :
Provided that such an income tax practitioner shall be a member of any registered Taxes Bar Association.]
(3) Notwithstanding anything contained in sub-section (1), the following persons shall not be qualified to
represent an assessee under that sub-section, namely:-
(a) a person who has been dismissed from Government service;
(b) a legal practitioner, or a chartered accountant, a cost and management accountant, or other accountant
mentioned in clause (e) of sub-section (2), or an income-tax practitioner, who, having been found guilty of
misconduct in his professional capacity-
(i) by any authority empowered to take disciplinary action against him, or
(ii) by the 852[ Board], in connection with any income-tax proceeding, and, on account of that finding, he
stands disqualified from practising his profession for so long as such disqualification continues 853[ :
Provided that no person shall be disqualified under this sub-clause unless he is given a reasonable opportunity
of being heard:
855[ Provided further that any person disqualified under this sub-clause may, within one month of his
disqualification, appeal to the Government to have the disqualification removed:
Provided further that no disqualification under this sub-clause shall take effect until one month from the date
of such disqualification has elapsed or, when an appeal is preferred, until the disposal of the appeal;]]
(c) a person who has become insolvent for so long as the insolvency continues;
(d) a person who has been convicted of any offence connected with any income tax proceeding under this
Ordinance unless the Commissioner, with the approval of the Board, by order, remove his disqualification
under this sub-section; and
(e) any Government servant in the Income-tax Department who has resigned or retired from such service, for a
period of three years from the date of acceptance of resignation or a period of one year from the date of
retirement, as the case may be.

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 137
 Tax to be calculated to nearest taka (Section-175)
175. In the determination of the amount of tax or of a refund payable under this Ordinance, fractions of a taka,
less than fifty poisha, shall be disregarded and fractions of a taka equal to or exceeding fifty poisha shall be
regarded as one taka.
Receipts to the given (Section-176)
176. A receipt shall be given for any money paid or recovered under this Ordinance.
Computation of the period of limitation (Section-177)
177. (1) In computing the period of limitation prescribed for an appeal or application under this Ordinance,
the day on which the order complained of was served, or, if the assessee was not furnished with a copy of the
order when the notice of the order was served upon him, the time requisite for obtaining the copy of the order
shall be excluded.
(2) Where the period of limitation prescribed for an appeal or application under this Ordinance expires on a
day which is a closed holiday, the appeal or application may be made on the day next following such holiday.
Service of notice (Section-178)
178. 856[ (1) A notice, an assessment order, a form of computation of tax or refund or any other document may be served
Inserted F.A on the person named therein or “by registered post or by sending from the official electronic mail of the sender to the
2018 specified electronic mail address of the person” in the manner provided for service of a summons issued by a Court
under the Code of Civil Procedure, 1908 (Act V of 1908):
Provided that where a notice, an assessment order, a form of computation of tax or refund, or any other document is
received by an authorized representative as referred to in section 174, such receipt by the authorized representative, shall be
construed as valid service on that person.]
(1A) 857[ Omitted by section 5 of অথ আইন,
ি ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন).]
(2) A notice may be addressed-
(a) in the case of a firm or a Hindu undivided family, to any member of the firm, or the manager or any adult male member
of the family;
(b) in the case of a local authority or a company, to the principal officer thereof;
(c) in the case of other body or association of persons, to the principal officer or any member thereof;
(d) in a case where a firm or association of persons is dissolved, to any person who was a member of the firm or
association, as the case may be, immediately before such dissolution;
(e) in a case where a business or profession is discontinued to which section 89 applies, if the business or profession
discontinued was-
(i) that of an individual, to the person whose income is to be assessed;
(ii) that of a company, to the principal officer thereof; and
(iii) that of a firm or association of persons, to any person who was a partner of such firm or a member of such association,
as the case may be, at the time of the discontinuance;
(f) in a case where a finding of partition has been recorded under section 90 in respect of a Hindu undivided family, to the
person who was the last manager of the family or, if such person is dead, to all adult male persons who were members of
the family immediately before the partition; and
(g) in any other case, not being an individual, to the person who manages or controls the affairs of the person or institution
concerned.
(3) The validity of any notice or of the service of any notice shall not be called in question after the return in response to the
notice has been filed or the notice has been complied with.
[Explanation.- In this section, “notice” includes order or requisition made or issued under this Ordinance.]
“(4) In this section-
(a) “electronic mail” shall have the same meaning as assigned to “ইনল ট্রমন কমইল" by িথ্ ও ক োগোন োগ প্র ুক্তি
আইন,২০০৬ (২০০৬ সননর ৩৯ নং আইন);
(b) “official electronic mail of the sender” means the electronic mail designated by the Board to the income tax authority
Inserted F.A serving the notice;
2018 (c) “specified electronic mail address of the person” means the electronic mail address –

(i) that has been mentioned in the return of income of the person submitted for the respective income year;
(ii) that has been specified by a person, in writing, to the income tax authority, as the electronic mail address of such
person.”।

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 138
 System generated notice, order, etc (Section-178A)
858[ 178A. A notice, order, requisition, certificate, communication, letter or an acknowledgment of receipt
generated by computer or electronic system specified by the Board shall have the same meaning and effect of
the notice, order, requisition, certificate, communication, letter or an acknowledgment of receipt issued or
served under this Ordinance.

Electronic filing, etc (Section-178B)

178B. Where any return, statement, application or document is to be filed to an income tax authority or the
Taxes Appellate Tribunal under any provision of this Ordinance, the return, statement, application or
document may be filed in such electronic, computer readable or machine readable form and manner as may be
specified by the Board.]

Certain errors not to vitiate assessment, etc (Section-179)

179. No assessment, order, notice, warrant or other document made, issued or executed, or purporting to be
made, issued or executed, under this Ordinance, shall be void or otherwise inoperative, merely for want of
form, or for an error, defect or omission therein, if such want of form, error, defect or omission is not of a
substantial nature prejudicially affecting the assessee.

Proceeding against companies under liquidation (Section-180)

180. Notwithstanding anything contained in section 171 of the Companies Act, 1913 (VII of 1913), leave of
the Court shall not be required for continuing any proceeding, or commencing any proceeding, under this
Ordinance against a company in respect of which a winding up order has been made or provisional liquidator
appointed.

Indemnity (Section-181)
181. Every person deducting, retaining or paying any tax in pursuance of this Ordinance in respect of income
belonging to another person is hereby indemnified for the deduction, retention or payment thereof.
Bar of suits and prosecution, etc (Section-182)
182. (1) No suit shall be brought in any Civil Court to set aside or modify any assessment made under this
Ordinance.
(2) No suit, prosecution or other proceedings shall lie against any officer of the Government for anything in
good faith done or intended to be done under this Ordinance.
Ordinance to have effect pending legislative provision for charge of tax (Section-183)
183. If, on the first day of July in any year provision has not been made by Act of Parliament for the charging
of income tax for that year, this Ordinance shall nevertheless have effect until such provision is made, as if the
provision in force in the preceding year, or the provision proposed in the bill which may then be before the
Parliament, whichever is more favourable to the assessee, were actually in force.
184. [Restriction on registration of documents.- Omitted by section 8 of অথ আইন,
ি ১৯৯২ (১৯৯২ সননর ২১
859[ Omitted]
নং আইন).]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 139
Requirement of twelve-digit Taxpayer’s Identification Number in certain cases (Section-184A)

860[ 184A. (1) Notwithstanding anything contained in this Ordinance, a person shall be required to furnish a
proof of holding twelve-digit Taxpayer’s Identification Number in the cases mentioned in sub-section (3).

(2) The proof of holding twelve-digit Taxpayer’s Identification Number shall be a certificate issued by the
Deputy Commissioner of Taxes or a system generated certificate authorised by the Board in this behalf or an
acknowledgment receipt of return of income, if such certificate or acknowledgment receipt, as the case may
be, contains the name and the twelve-digit Taxpayer’s Identification Number of the person.

(3) The proof of holding twelve-digit Taxpayer’s Identification Number shall be furnished in the cases of -
(i) opening a letter of credit for the purpose of import;
(ii) applying for an import registration certificate or export registration certificate;
(iii) obtaining the issuance or renewal of a trade license in the area of a city corporation or paurashava;
(iv) submitting tender documents by a resident for the purpose of supply of goods, execution of a contract or
rendering a service;
(v) submitting application for the membership of a club registered under ক োম্পোমন আইন, ১৯৯৪ (১৯৯৪
সননর ১৮ নং আইন);
(vi) obtaining the issuance or renewal of license of or enlistment as a surveyor of general insurance;
(vii) obtaining registration, by a resident, of the deed of transfer, baynanama or power of attorney of a land,
building or an apartment situated within a city corporation or a paurashava of a district headquarter, where the
deed value exceeds one lakh taka;
(viii) obtaining registration, change of ownership or renewal of fitness of a bus, truck, prime mover, lorry etc.,
plying for hire;
(ix) applying for a loan exceeding five lakh taka from a bank or a financial institution;
(x) obtaining a credit card;
(xi) obtaining the membership of the professional body as a doctor, dentist, lawyer, chartered accountant, cost
and management accountant, engineer, architect or surveyor or any other similar profession;
(xii) being a director or a sponsor shareholder of a company;
(xiii) obtaining and retaining a license as a Nikah Registrar under the Muslim Marriages and Divorces
(Registration) Act. 1974 (LII of 1974);
(xiv) obtaining or maintaining the membership of any trade or professional body;
(xv) submitting a plan for construction of building for the purpose of obtaining approval from Rajdhani
Unnayan Kartripakkha (Rajuk), Chittagong Development Authority (CDA), Khulna Development Authority
(KDA) and Rajshahi Development Authority (RDA) or other concerned authority;
(xvi) obtaining or maintaining a drug license;
(xvii) obtaining or maintaining the commercial connection of gas;
(xviii) obtaining or maintaining the connection of electricity for commercial purpose in a city corporation,
paurashava or cantonment board;
(xix) registration, change of ownership or renewal of fitness of a motor vehicle;
(xx) obtaining or maintaining a survey certificate of any water vessel including launch, steamer, fishing
trawler, cargo, coaster and dump-burge etc., plying for hire;
(xxi) registration or renewal of agency certificate of an insurance company;
(xxii) obtaining the permission or the renewal of permission for the manufacture of bricks by Deputy
Commissioner's office in a district or Directorate of Environment, as the case may be;
(xxiii) participating in any election in upazilla, paurashava, city corporation or Jatiya Sangsad;
(xxiv) obtaining the admission of a child or a dependent in an English medium school, providing education
under international curriculum, situated in any city corporation, district headquarter or paurasabha;

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 140
 (xxv) receiving any payment which is an income of the payee classifiable under the head "Salaries" by an
employee of the government or an authority, corporation, body or units of the government or formed by any
law, order or instrument being in force, if the employee, at any time in the income year, draws a basic salary of
taka sixteen thousand or more;
(xxvi) receiving any amount from the Government under the Monthly Payment Order (MPO) if the amount of
payment exceeds taka sixteen thousand per month;
(xxvii) receiving any payment which is an income of the payee classifiable under the head "Salaries" by any
person employed in the management or administrative function or in any supervisory position in the
production function;
(xxviii) obtaining or maintaining the agency or the distributorship of a company;
(xxix) receiving any commission, fee or other sum in relation to money transfer through mobile banking or
other electronic means or in relation to the recharge of mobile phone account;
(xxx) receiving any payment by a resident from a company against any advisory or consultancy service,
catering service, event management service, supply of manpower or providing security service;
(xxxi) submitting a bill of entry for import into or export from Bangladesh;
“(xxxii) participating in a ride sharing arrangement by providing motor vehicle.”
(4) The Board may, by a general or special order, exempt any person from furnishing twelve-digit Taxpayer’s
Identification Number.
(5) The person responsible for processing any application or nomination, approving any license, certificate,
membership, permission, admission, agency or distributorship, sanctioning any loan, issuing any credit card,
allowing connection, executing registration or making any payment shall not so process, approve, sanction,
issue, allow, execute or make payment, as the case may be, unless the twelve-digit Taxpayer’s Identification
Number is furnished as required under the provision of sub-section (1) or the person who is required to
furnish the proof of holding twelve-digit Taxpayer’s Identification Number provides a certificate from the
Board that he is exempted from furnishing such proof.
(6) The person to whom the proof of holding twelve-digit Taxpayer’s Identification Number is furnished shall
verify the authenticity of it in the manner as may be specified by the Board.]

861[ Twelve-digit] Tax-payer’s identification number (TIN) in certain documents, etc (Section-184AA)

862[ 184AA. The Board may, with the prior approval of the Government and by notification in the official
Gazette, specify any class of documents where a 863[ twelve-digit Taxpayer’s Identification Number] (TIN) is
to be mentioned.]

Tax-payer’s identification number (Section-184B)

864[ 184B. 865[ (1) Every assessee or any person who applies manually or electronically for a Taxpayer’s
Identification Number will be issued a certificate containing twelve-digit Taxpayer’s Identification Number
and such other particulars in such manner as may be prescribed:
Provided that twelve-digit Tax-payer’s Identification Number may be issued without any application where
any income tax authority has found a person having taxable income during the year and possesses such
necessary information of that person for issuance of twelve-digit Tax-payer’s Identification Number.]

(2) Board may, by general or special order in writing, direct any person or classes of persons who already hold
a Tax-payer's Identification Number to furnish such information or documents for the purpose of re-
registration and thereafter issue 866[ twelve-digit] a new Taxpayer's Identification Number.]
867[ (3) Every existing assessee having ten-digit Tax-payer’s Identification Number or a Temporary
Registration Number (TRN) shall have to obtain twelve-digit Tax-payer’s Identification Number (TIN) before
the last date of submission of return of income as required under section 75.]

Unified Taxpayer's Identification Number (UTIN)

869[ 184BBB. An assessee having taxpayer's identification number (TIN) when registered with VAT authority
Omitted F.A
and obtained a business identification number (BIN) shall be given Unified Taxpayer's Identification Number
2018
(UTIN) in such manner as may be prescribed by the Board.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 141
 Tax collection account number (Section-184BB)
868[ 184BB. Every person required to deduct or collect tax under Chapter VII of this Ordinance shall be
given a tax collection account number in such manner as may be prescribed.]

Issuance of Temporary Registration Number (TRN) (Section-184BBBB)

870[ 184BBBB. Temporary Registration Number (TRN) may be given to a person who has been found
having taxable income in any year and has failed to apply for Tax-payer's Identification Number (TIN) under
section 184B.]
“Explanation.- For the removal of doubts, it is hereby declared that nothing in this Ordinance shall limit the
Inserted F.A authority of the Deputy Commissioner of Taxes in imposing the liability to pay any sum under this Ordinance
2018 on a person who has been given a Temporary Registration Number (TRN) for the reason that the person has
failed to apply for the Tax-payer's Identification Number (TIN).”

Displaying of 871[ twelve-digit] tax payer’s identification number certificate (Section-184C)

872[ 184C. An assessee having income from business or profession shall obtain 873[ twelve-digit] tax payer's
identification number (TIN) certificate from the Deputy Commissioner of Taxes under whose jurisdiction he
is being 874[ assessed] and shall display such certificate at a conspicuous place of such assessee's business
premises.]

Reward to officers and employees of the Board and its subordinate income tax offices 875[ * * *] (Section-
184D)
876[ 184D.- (1) Notwithstanding anything contained in this Ordinance or any other law for the time being in
force, the Board may, in such manner and in such circumstances and to such extent as may be prescribed,
grant reward to the following persons :-
(a) an officer or employee of the Board and its subordinate tax offices for outstanding performance 877[ ,
collection] of taxes and detection of tax evasion;
(b) any other person for furnishing information leading to detection of tax evasion.
(2) The Board may, in addition to the reward mentioned in sub-section (1), grant reward to officers and
employees of the Board and its subordinate tax offices for a financial year for collecting of revenue in excess
of the revenue target as may be prescribed.]

Assistance to income tax authorities (Section-184E)

878[ 184E.- All officers and staff of government and semi-government organizations, law enforcement
agencies, autonomous bodies, statutory bodies, financial institutions, educational institutions, private
organizations, local government and non-government organizations shall assist the income tax authorities in
the discharge of their functions under this Ordinance.]

Ordinance to override other laws (Section-184F)

879[ 184F. Notwithstanding anything contained in any other law for the time being in force, the provisions of
this Ordinance or any proceedings thereunder shall prevail over any other law in respect of 880[ the
imposition and the collection of tax, the exemption of any income from tax, the reduction of the rate of tax, the
calling for any information for the purpose of taxation, and the protection of information under this
Ordinance].]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 142
 CHAPTER XXIII
RULES AND REPEAL

Power to make rules (Section-185)

185. (1) The Board may, by notification in the Official Gazette, make rules for carrying out the purposes of
this Ordinance; and any such rules may, in so far as they do not impose, or have the effect of imposing, any
criminal liability, be given retrospective effect.
(2) In particular, and without prejudice to the generality of foregoing power, such rules may provide for all or
any of the following matters, namely:-
(a) the ascertainment and determination of the classification of any income in respect of which the provisions
of this Ordinance are not clear;
(b) the manner in which, and the procedure by which, the income and the tax payable thereon shall be
determined in the case of-
(i) non-residents, and
(ii) income derived in part from agriculture and in part from business;
(c) the ascertainment and determination of any income or class of income to be included in the total income of
an assessee;
(d) the determination of the value of any perquisites and benefits and of the allowances permissible under this
Ordinance in respect of any head of income or total income;
(e) the procedure for the grant of exemption of income of industrial undertakings or tourist industries and any
other matter connected with or incidental thereto;
(f) the manner in which, and the procedure by which, self-assessment may be made;
(g) the procedure for, and any other matter connected with or incidental to, the issue of exemption certificate
or tax clearance certificate under section 107;
(h) the procedure to be followed on application for refund;
(i) registration of income tax practitioners, qualifications for registration conditions and limitations subject to
which income-tax practitioners may act as authorised representative under this Ordinance, cancellation of
registration or other disciplinary measures in respect of income tax practitioners;
(j) fees and other charges to be paid in respect of any services rendered or in respect of any matter for which
fees and charges are payable under this Ordinance; and
(k) any other matter which is to be provided for by rules, or which is to be or may be prescribed under this
Ordinance.
(3) In cases coming under sub-section (2)(b), the rules may prescribe methods by which an estimate of such
income may be made, and prescribe the proportion which shall be deemed to be income classifiable under the
head “Agricultural income” or “income from business or profession”, and an assessment based on such
estimate or proportion, as the case may be, shall be deemed to be duly made in accordance with the provisions
of this Ordinance.
(4) The power to make rules under this section shall, except on the first occasion of the exercise thereof, be
subject to the condition of previous publication 881[ :
Provided that where previous publication of the draft of any proposed rules or of any amendment to any
existing rules is made pursuant to the provisions of this sub-section, giving therewith a notice soliciting
objections and suggestions to such draft within the period specified in the notice and if no objection or
suggestion is received within the period specified, the previous publication of such draft shall be deemed to be
the final publication of the proposed rules or amendment, as the case may be.]

Power to issue circular, clarification, etc (Section-185A)

882[ 185A. The Board may, by order, issue circular, clarification, explanation and directives relating to the
scope and application of any provision under this Ordinance and the rules and orders made thereunder.]

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 143
 Repeal and savings (Section-186)
186. (1) The Income-tax Act, 1922 (XI of 1922) is hereby repealed.
(2) Notwithstanding the repeal, the Income tax Act, 1922 (XI of 1922), and the rules made thereunder, shall
continue to apply, as if that Act had not been repealed,-
(a) to any income of, or relatable to, any period prior to the commencement of this Ordinance; and
(b) to any notice issued, or any assessment, order, application or appeal made, any proceedings commenced or
any prosecution instituted, under that Act.
(3) Save as provided in sub-section (2), the repeal under sub-section (1) and enactment of this Ordinance
shall, for the purposes of the General Clauses Act, 1897 (X of 1897), be deemed to be repeal and re-
enactment of the Income-tax Act, 1922 (XI of 1922).

Removal of difficulties (Section-187)

187. (1) If any difficulty arises in giving effect to any of the provisions of this Ordinance, the Government
may, by notification in the official Gazette, make such provisions as it thinks fit for removing that difficulty.
(2) No notification under this section shall be issued after the thirtieth day of June, 1988.
Refferences

The semi-colon(;) and word `; or` were omitted by section 7 of the Finance Act,2009(Act No.XXXVI of
1
2009)(with effect from 1st July 2009).
The words, commas and semi-colon “and any amount received by letting out furniture, fixture, fittings
2 etc; or” were substituted by section 7 of the Finance Act, 2009 (Act No.XXXVI of 2009)(with effect
from 1st July 2009).
3 Sub-clause (b) was omitted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The comma and words “, and includes a Senior Appellate Joint Commissioner of Taxes” were added by
4
section 10 of the Finance Ordinance, 1986 (Ordinance No. XLV of 1986)
The words “an Appellate Additional Commissioner of Taxes” were substituted for the words “a Senior
5
Appellate Joint Commissioner of Taxes” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)

The words “and also a person appointed to hold current charge of an Appellate Joint Commissioner of
6
Taxes” were added by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
7 Clause (5A) was inserted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words “or a pension fund” were inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং
8
আইন)
9 Sub-clause (aa) was inserted by section 16(a) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words, commas, figures and brackets “or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন),
10 and includes a body corporate” were substituted for the comma and words “, and includes a body
corporate” by section 6 of অর্ থআইন, ১৯৯৫(১৯৯৫ সননর ১২ নং আইন)
The words, figures and brackets ``ব্োং -ক োম্পোনী আইন, ১৯৯১ (১৯৯১ সননর ১৪ নং আইন)” were
11 substituted for the words, figures and brackets “the Banking Companies Ordinance, 1962 (LVII of
1962)” by section 53 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The word ‘‘and’’ was inserted by section 5(a) of the Finance Act, 2014 (Act No. IV of 2014).(with effect
12
from 1st july, 2014)
The word ‘‘and’’ was omitted by section 5(b) of the Finance Act, 2014 (Act No. IV of 2014).(wih effect
13
from 1st July, 2014)
Sub-clause (c) was omitted by section 5(c) of the Finance Act, 2014 (Act No. IV of 2014) (with effect
14
from 1st July, 2014).
15 Clause (19) was substituted by section 15 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
16 Clause (19A) was inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words, brackets, comma and figure “Commissioner of Taxes (Appeals) under section 3, and
includes a person appointed to hold current charge of a Commissioner of Taxes (Appeal)” were
17
substituted for the words brackets and figure “Commissioner of Taxes (Appeals) under section 3” by
section 5 of অর্ থআইন, ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)
18 Clause (19B) was omitted by section 15 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 144
 The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন),” were substituted for the words, comma, figures and
19
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
20 The word “and” was omitted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
21 Clause (bb) were inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
Clauses (bb) and (bbb) were substituted for former clause (bb) by section 7 of অর্ থআইন, ১৯৯১
22
(১৯৯১ সননর ২১ নং আইন)
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)” were substituted for the words, comma, figures and
23
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
The words “not incorporated by or under any law” were substituted for the words “whether
24
incorporated or not” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)
The words, commas, figures Letters and brackets “সমবোয় সমমমি আইন, ২০০১ (২০০১ সননর ৪৭ নং
আইন) (Co-operative Societies Act, 2001) (Act No 47 of 2001)” were substituted for The words,
25
commas, figures Letters and brackets “the Co-operative Societies Act,1940 (Beng. Act XXI of 1940)” by
section 15(b) of The Finance Act, 2012 (Act No 26 of 2012)(with effect from 1st July 2012).
The words and comma “and includes a person appointed to be a Transfer Pricing Officer,” were
26 substituted for the words “and includes a person appointed to be` by section 15(c) of the Finance Act,
2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)” were substituted for the words, comma, figures and
27
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
28 Clause (25) was substituted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
29 Clause (25A) was inserted by section 15 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
30 Clause (25AA) was inserted by section 11 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
The words and commas “or any Joint Director General, Central Intelligence Cell or Deputy Director
31 General, Central Intelligence Cell authorised by him” were added by Section 8 of the Finance Act,
2009((Act No.IX of 2009)(with effect from 1st July 2007).
The words and commas “any Director, Central Intelligence Cell or any Joint Director, Central
Intelligence Cell or Deputy Director, Central Intelligence Cell or Assistant Director, Central
Intelligence Cell” were substituted for the words and commas “any Additional Director General,
32
Central Intelligence Cell or any Joint Director General, Central Intelligence Cell or Deputy Director
General, Central Intelligence Cell ` by section 15(d) of the Finance Act, 2012 (Act No. XXVI of 2012)
(with effect from 1st July, 2012).
33 Clause (dd) was inserted by section 27 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
Sub-clause (ddd) was inserted by section 8(a) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
34
effect from 1st July 2017).
35 Sub-clause (iiia) was inserted by section 27 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
36 Sub-clause (iv) was omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “and includes a person appointed to hold current charge of an Extra Assistant
37
Commissioner of Taxes” were added by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
38 Clause (30) was substituted by section 53 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
Clause (31A) was inserted by section 15(e) of the Finance Act, 2012 (Act No. XXVI of 2012) (with
39
effect from 1st July, 2012).
40 Clause (34) was substituted by section 16(b) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words, commas and the semi-colon (;) “but does not include, in the case of a shareholder of a
Bangladeshi company, the amount representing the face value of any bonus shares or the amount of
41
any bonus declared, issued or paid by the company to its shareholders with a view to increasing its paid-
up share capital;” were omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Clause 35 was substituted by section 9 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
42
from 1st July 2016).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 145
 The words “or any subsidiary thereof” were inserted after the words “financial institution” by section
43
16(c)(i) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The colon (:) was substituted for the semi-colon (;) and thereafter the proviso was inserted by section
44
16 (c) (ii) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words and commas “subsidiary, including a subsidiary thereof, or a holding company of a parent
company incorporated outside Bangladesh or a branch or liaison office thereof” were substituted for
45
the words “subsidiary or holding company of a parent company incorporated outside Bangladesh” by
sections 8(b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The comma and words “, and includes a Senior Inspecting Joint Commissioner of Taxes” were added
46
by section 10 of the Finance Ordinance, 1986 (Ordinance No. XLV of 1986)
The words “an Inspecting Additional Commissioner of Taxes” were substituted for the words “a
47 Senior Inspecting Joint Commissioner of Taxes” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১
নং আইন)
The words “and also a person appointed to hold current charge of an Inspecting Joint Commissioner
48
of Taxes” were added by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Clause (37) was substituted by section 15(f) of the Finance Act, 2012 (Act No. XXVI of 2012) (with
49
effect from 1st July, 2012).
50 Clause (45) was substituted by section 8 of অর্ থআইন, ২০০৬ (২০০৬ সননর ২২ নং আইন)
Clauses (46) and (46A) were substituted by section 16 (d) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং
51
আইন).
The words and comma “chief executive officer,” were inserted after the words and comma “managing
52
director,” by section 16 (e) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
53 Clause (53) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
Sub-clause (a) was substituted by section 15(g) of the Finance Act, 2012 (Act No. XXVI of 2012) (with
54
effect from 1st July, 2012).
55 Sub-clause (e) was added by section 6 of the অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
56 Clause (59A) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
57 Clause (62) was substituted by section 9 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
58 Clause (62A) was inserted by section 16 (f) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “or the fifteenth day of September following the end of the income year where the said
59 fifteenth day falls before the fifteenth day of September” were added after the words “income year” by
section 8(c) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
60 Clause (63) was omitted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
61 Clause (67) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
Clause (1A), which was inserted by section 10 of the Finance Ordinance, 1986 (Ordinance No. of 1986)
62
was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
63 New number no (IB) was inserted by section 11(a) of the Finance Act, 2011 (Act No. XII of 2011) .
64 Clause (2) was substituted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
65 Clause (2A) was inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
66 Clause (2B) was inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
67 Clause (2C) was inserted by section 16 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
68 Clause (2D) was inserted by section 12 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
69 Clause (3A) was substituted by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)
70 Number no (6) was substituted by section 11 (b) of the Finance Act, 2011 (Act No. XII of 2011)
The words and commas “Director General, Central Intelligence Cell,” were inserted after the words
71
“The Board may appoint” by section 20 of the Finance Act,2010(Act No.XXXIII of 2010).
The words and comma `Chief Commissioner of Taxes, Director General` were substituted for the
72
words `Director General` by section 12 of the Finance Act, 2011 (Act No. XII of 2011) .
The words “a Senior Commissioner of Taxes and” were omitted by section 6 of অর্ থআইন, ১৯৯৫
73
(১৯৯৫ সননর ১২ নং আইন)
The words “Directors-General of Inspection” were substituted for the words “Director of Inspection”
74
by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 146
 The words, brackets and the comma “Commissioners (Appeals),” were inserted by section 8 of অর্ থ
75
আইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
76 Sub-section (2A) was inserted by section 17 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
77 Section 4A was inserted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The Semi-colon(;) was substituted for the comma word “, and” by section 21 of the Finance
78
Act,2010(Act No.XXXIII of 2010).
The semi-colon and the word “; and” were substituted for the full-stop(.) at the end and thereafter
79
clause (c) was added by section 21 of the Finance Act,2010(Act No.XXXIII of 2010).
80 Sub-section (1) was substituted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words and comma “Senior Commissioner,” were omitted by section 6 of অর্ থআইন, ১৯৯৫
81
(১৯৯৫ সননর ১ নং আইন)
The words and comma `Chief Commissioner of Taxes, Director Gereral` were substituted for the
82
words `Director General` by section 13 of the Finance Act, 2011 (Act No. XII of 2011) .
The words and comma “Additional Commissioners of Taxes, Joint Commissioners of Taxes” were
83 substituted for the words “Joint Commissioners of Taxes” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১
সননর ২১ নং আইন)
The words, brackets and commas “or the Commissioners (Appeals), as the case may be,” were inserted
84
by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioners (Appeals)” were inserted by section 8 of অর্ থআইন,
85
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
86 Clause (a) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১ নং আইন)
87 Clause (aa) was substituted by section 5 of অর্ থআইন, ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)
Clause (aaa) was added by section 9 of the Finance Act 2009((Act No.IX of 2009)(with effect from 1st
88
July 2007).
The comma, words and brackets “, the Commissioners (Appeals)” were inserted by section 8 of অর্ থ
89
আইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
90 Clause (bb) was inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words and brackets “or the Commissioners (Appeals)” were inserted by section 8 of অর্ থআইন,
91
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
92 Sub-clause (b) was omitted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words and comma “Inspecting Joint Commissioner, the Inspecting Additional Commissioner”
93 were substituted for the words “Inspecting Joint Commissioner” by section 7 of অর্ থআইন, ১৯৯১
(১৯৯১ সননর ২১ নং আইন)
The words and comma “Inspecting Joint Commissioner, the Inspecting Additional Commissioner”
94 were substituted for the words “Inspecting Joint Commissioner” by section 7 of অর্ থআইন, ১৯৯১
(১৯৯১ সননর ২১ নং আইন)
The words and comma “Inspecting Joint Commissioner, the Inspecting Additional Commissioner”
95 were substituted for the words “Inspecting Joint Commissioner” by section 7 of অর্ থআইন, ১৯৯১
(১৯৯১ সননর ২১ নং আইন)
The words and comma “Inspecting Joint Commissioner, the Inspecting Additional Commissioner”
96 were substituted for the words “Inspecting Joint Commissioner” by section 7 of অর্ থআইন, ১৯৯১
(১৯৯১ সননর ২১ নং আইন)
The words “judicial and accountant” were omitted by section 28 of অর্ থআইন, ২০০২ (২০০২ সননর
97
১৪ নং আইন)
98 Sub-section (3) was substituted by section 28 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
Clase (i) was substituted by section 8 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect from
99
1st July 2009).
The words “having at least one year experience as a Commissioner” were inserted after the words “a
100
Commissioner of Taxes” by section 17 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The semi-colon and word “; or” were substituted for the full-stop(.) at the end and thereafter clause
101
(ix) was added by section 22 of the Finance Act,2010(Act No.XXXIII of 2010).
102 Clause (ix) was substituted by section 14 of the Finance Act, 2011 (Act No. XII of 2011) .
103 Sub-section (4) was substituted by section 4 of অর্ থআইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The comma(,) and words “, who is a member of the Board or holds the current charge of a member of
104 the Board” were inserted after the words “President thereof” by section 22 of the Finance Act,2010(Act
No.XXXIII of 2010).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 147
 The words, comma, figures and brackets “or Bangladesh Chartered Accountants Order, 1973 (P.O.
105
No. 2 of 1973)” were inserted by section 47 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
The words “and that there is equality in number of judicial members and accountant members” were
106
omitted by section 29 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The full stop (.) was substituted for the colon (:) and thereafter the proviso was omitted by section 48
107
of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
108 Section 16A was inserted by section 8 of অর্ থআইন, ১৯৮৮ (১৯৮৮ সননর ৩৩ নং আইন)
109 Sections 16B and 16C were inserted by section 30 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
Sections 16B, 16BB and 16BBB were substituted by section 18 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮
110
নং আইন).
The comma and words “, and includes a Senior Appellate Joint Commissioner of Taxes” were added
111
by section 10 of the Finance Ordinance, 1986 (Ordinance No. XLV of 1986)
112 Section 16C was omitted by section 19 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “an Appellate Additional Commissioner of Taxes” were substituted for the words “a Senior
113
Appellate Joint Commissioner of Taxes” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)

114 Section 16CC were omitted by Finance Act,2009(Act No.X of 2009)(with effect from 1st July 2008).

The words “and also a person appointed to hold current charge of an Appellate Joint Commissioner of
115
Taxes” were added by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
116 Section 16CCC was omitted by section 20 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
117 Clause (5A) was inserted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words “or a pension fund” were inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং
118
আইন)
Section 16E was omitted by section 9 of the Finance Act, 2013 (Act No. XXV of 2013) (with effect from
119
1st July, 2013).
The words “income year in which it is received” were substituted for the words “income year in which
120
it is declared” by Section 11 of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The words “which makes any debtor taxable” were omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯
121
সননর ১৬ নং আইন)
The colon (:) was substituted for the full-stop (.) and thereafter the proviso was added by section 31 of
122
অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
123 The proviso was substituted by section 19 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
The words `Bangladesh Development Bank Ltd.` were substituted for the words `Bangladesh Shilpa
124
Bank or Bangladesh Shilpa Rin Sangstha` by section 7(a) of the Finance Act, 2014 (Act no. IV of 2014).
The colon (:) was substituted for the semi-colon (;) and thereafter the proviso was added by section 21
125
(a) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words, brackets and letters “except as provided in clause (aa)” were inserted by section 7 of অর্ থ
126
আইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)
127 Clause (aa) was inserted by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)
The words `Bangladesh Development Bank Ltd.` were substituted for the words `Bangladesh Shilpa
128
Bank or Bangladesh Shilpa Rin Sangstha` by section 7(b) of the Finance Act, 2014 (Act no. IV of 2014).
The words “three years” were substituted for the words “two years” by section 6 of অর্ থআইন,
129
১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “three years” were substituted for the words “two years” by section 6 of অর্ থআইন,
130
১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
131 The proviso was substituted by section 19 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
Sub-sections (21), (22) and (23) were added by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং
132
আইন)
The words `not exceeding taka five lakh` were substituted for the words `exceeding taka one lakh` by
133
section 16(a)(i) of the Finance Act, 2012 (Act no. XXVI of 2012).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 148
 Comma and the words `,not being a company` were inserted after the words `have been received as
134
loan by an assessee` by section 16(a)(ii) of the Finance Act, 2012 (Act no. XXVI of 2012).
The words “or bank transfer” were inserted after the words “crossed cheque drawn on a bank” by
135
section 12(a) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন).(with effect from 1st July 2015).
The words “three years” were substituted for the words “two years” by section 6 of অর্ থআইন,
136
১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “three years” were substituted for the words “two years” by section 6 of অর্ থআইন,
137
১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
138 Sub-section (21A) was inserted by section 31 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
139 Sub-section (21B) was inserted by section 16(a) of the Finance Act, 2011 (Act No. XII of 2011) .
The words “transferred by a person partly or fully from that business or profession within the period
140 of limitation” were substituted for the words “transferred by a person partly or fully within the period
of limitation” by section 16(b) of of the Finance Act 2012 (Act no. XXVI of 2012).
141 Sub-sections 24 and 25 were added by section 10 of অর্ থআইন, ২০০৬ (২০০৬ সননর ২২ নং আইন)
142 Sub-section 24 was substituted by section 16(c) of the Finance Act,2012(Act No.XXVI of 2012).
Sub-section 25 was omitted by Section 11 of the Finance Act,2009(Act No.IX of 2009)(with effect from
143
1st July 2007).
144 Sub-sections (26) and (27) were added by section 16(b) of the Finance Act, 2011 (Act No. XII of 2011) .
The words `from any other person` were substituted for the words `from any other company` by
145
section 16(d) of the Finance Act 2012 (Act no. XXVI of 2012).
The colon `:` was substituted for the full-stop `.` and thereafter the proviso was added by section 7(c)
146
of the Finance Act 2014 (Act no. V of 2014).
The words “paid up capital together with reserve and accumulated profit” were substituted for the
147
words “paid up capital” by section 12(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন)
The words “paid up capital together with reserve and accumulated profit” were substituted for the
148
words “paid up capital” by section 12(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন)
149 sub-section 28 was added by section 16(e) of The Finance Act, 2012 (Act no. XXVI of 2012).
The colon (:) was substituted for the full-stop (.) and the proviso was added by section 9 (a) of অর্ থ
150
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
sub-sections 29, 30 and 31 were added by section 12(c) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং
151
আইন)
The words, comma and symbol “which has not been paid within two years from the end of the income
year in which the purchase was made, shall be deemed to be the income of the assessee for the income
year immediately following the expiry of the said two years and be classifiable under the head `Income
152 from other sources” were substituted for the words, comma and symbol “which has not been paid in
the following year in which such purchase was made, shall be deemed to be the income of the assessee
for that income year classifiable under the head `Income from other sources” by section 21 (b) of অর্ থ
আইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Sub-section (31) was substituted by section 9 (b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন)
153
(With effect from 1st July 2017).
The words, commas, figures and brackets “or ক োম্পোনী আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন),
154 and includes a body corporate” were substituted for the comma and words “, and includes a body
corporate” by section 6 of অর্ থআইন, ১৯৯৫(১৯৯৫ সননর ১২ নং আইন)
155 Section 19A was omitted by section 25 of the Finance Act,2010(Act No.XXXIII of 2010).
The words, figures and brackets ``ব্োং -ক োম্পোনী আইন, ১৯৯১ (১৯৯১ সননর ১৪ নং আইন)” were
156 substituted for the words, figures and brackets “the Banking Companies Ordinance, 1962 (LVII of
1962)” by section 53 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
157 Section 19AA was omitted by section 26 of the Finance Act,2010(Act No.XXXIII of 2010).
158 Clause (19) was substituted by section 15 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
159 Section 19AAA was omitted by section 27 of the Finance Act,2010(Act No.XXXIII of 2010).
160 Clause (19A) was inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
Sections 19B, 19BB and 19BBB were omitted by section 12 of the Finance Act,2009(Act No. IX of
161
2009)(with effect from 1st July 2007).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 149
 Clauses (a), (b), (c) and (d) were substituted for clauses (a) and (b) by section 11 of অর্ থআইন, ২০০৬
162
(২০০৬ সননর ২২ নং আইন)
The words, brackets, comma and figure “Commissioner of Taxes (Appeals) under section 3, and
includes a person appointed to hold current charge of a Commissioner of Taxes (Appeal)” were
163
substituted for the words brackets and figure “Commissioner of Taxes (Appeals) under section 3” by
section 5 of অর্ থআইন, ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)
Sections 19B, 19BB and 19BBB were omitted by section 12 of the Finance Act,2009(Act No. IX of
164
2009)(with effect from 1st July 2007).
165 Clause (19B) was omitted by section 15 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
Sections 19B, 19BB and 19BBB were omitted by section 12 of the Finance Act,2009(Act No. IX of
166
2009)(with effect from 1st July 2007).
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন),” were substituted for the words, comma, figures and
167
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
168 Section 19BBBB was omitted by section 28 of the Finance Act,2010(Act No.XXXIII of 2010).
Section 19BBBBB was inserted by section 10 of the Finance Act, 2013 (Act No. XXV of 2013) (with
169
effect from 1st July, 2013).
The words “taka six hundred ” were substituted for the words “taka one thousand” by section 13(a)(i)
170
of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words “taka eight hundred ” were substituted for the words “taka one thousand and five
171 hundred” by section 13(a)(ii) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st
July 2015).
The words “taka four hundred” were substituted for the words “taka seven hundred ” by section
172
13(b)(i) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words “taka six hundred” were substituted for the words “taka one thousand” by section 13(b)(ii)
173
of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
174 Section 19C was inserted by section 29 of the Finance Act,2010(Act No.XXXVIII of 2010).
175 The word “and” was omitted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
176 Section 19D was omitted by section 7a of the Finance Act,2014(Act No.IV of 2014).
Section 19E was added by section 17 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from
177
1st July, 2012).
The word, figure and brackets “sub-section (5)” were substituted for the word, figure and brackets
178 “sub-section (2)” by section 10 (a) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from
1st July 2017).
Clause (a) was substituted by section 10 (b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
179
effect from 1st July 2017).
The words “or” was omitted by section 14(a) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
180
effect from 1st July 2015).
The semi-colon (;) and “or” was substituted for the full stop (.) at the end of clause (d) and thereafter
181 new clause (e) was inserted by section 14(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
effect from 1st July 2015).
The words “the Government or any security approved by Government” were substituted for the
182
words “the Government” by section 15 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
The colon (:) was substituted for the semi-colon (;) and thereafter the proviso was added by section 6
183
of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
184 Clause (c) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The commas and words “, whether used for commercial or residential purposes,” were inserted by
185
section 35 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The commas and words “, furniture, fixture, fittings etc.” were added after the word “building” by
186
section 14 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect from 1st July 2009).
187 Clause (c) was omitted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
The words ``from bank or financial institution`` were inserted after the words ``with borrowed
188
capital`` by section 8(a) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The semi-colon (;) was substituted for the colon (:) and thereafter the proviso was omitted by section
189
18 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 150
190 Clause (gg) was inserted by section 36 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The words ``from bank or financial institution`` were inserted after the words `with borrowed capital`
191
by section 8(b) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
192 Clause (h) was substituted by section 16 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
193 Clause (i) was omitted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
The semi-colon (;) was substituted for the full stop (.) and thereafter clause (h) was inserted by section
194
6 of অর্ থআইন, ১৯৯৪ (১৯৯৪ সননর ১১ নং আইন)
195 Sub-section (3) was inserted by section 4 of অর্ থআইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The words ``Bangladesh Development Bank Ltd.`` were substituted for the words and comma
196 ``Bangladesh Shilpa Bank, Bangladesh Shilpa Rin Sangstha`` by section 9 of the Finance Act, 2014 (Act
No. IV of 2014) (with effect from 1st July, 2014).
The comma and words ``, Investment Corporation of Bangladesh`` were inserted by section 6 of অর্ থ
197
আইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “, any financial institution” were substituted for the words “investment corporation of
198 Bangladesh” by section 15 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July
2015).
The words and comma “any other entity, when lending of money is not the business of transferor”
were substituted for the words “a newly set up industrial undertaking or to an extension of an existing
199
industrial undertaking whose income is exempted from payment of tax” by section 14 of the Finance
Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The words “five per cent” were substituted for the words “ten percent” by section 14 of the Finance
200
Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The words “or bridge or road or fly over owned by a physical infrastructure undertaking” were
201 inserted after the words “property of the assessee” by section 30 of the Finance Act,2010(Act
No.XXXIII of 2010).
Clause (viiia) was inserted by section 11 of the Finance Act, 2013 (Act No. XXV of 2013) (with effect
202
from 1st July, 2013).
203 Clause (x) was omitted by section 12 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
204 Clause (xa) was omitted by section 17 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
The words “, plant or any other fixed asset not being imported software” were substituted for the
205 words “or plant” by section 16 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st
July 2015).
206 The proviso was omitted by section 37 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The words, figure and brackets “the proviso of sub-section (1)” were substituted for the word, figure
207 and brackets “sub-section (4)” by section 11 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন).(With
effect from 1st July 2017).
208 Clause (xviii) was omitted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
209 Clause (xviiia) was inserted by section 8 of অর্ থআইন, ১৯৮৭ (১৯৮৭ সননর ২৭ নং আইন)
The words `Bangladesh Development Bank Ltd.` were substituted for the words `Bangladesh Shilpa
210 Bank or Bangladesh Shilpa Rin Sangstha` by section 10 of the Finance Act, 2014 (Act No. IV of 2014)
(with effect from 1st July, 2014).
211 Clause (xviiiaa) was inserted by section of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The comma and words `, Karmo shongsthan Bank` were inserted by section 14 of অর্ থআইন, ২০০৬
212
(২০০৬ সননর ২২ নং আইন)
The words `one per cent` were substituted for the words `two per cent` by section 12 of অর্ থআইন,
213
২০০৫ (২০০৫ সননর ১৬ নং আইন)
214 The proviso was substituted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The commas and figures `, 1995-96, 1996-97, 1997-98, 1998-99` were substituted for the words and
figures `and 1995-96 or till the assessment year the actual provision in respect of which is equal to the
215
bad and doubtful debts as per Bangladesh Bank`s guidelines in this behalf` by section 5 of অর্ থআইন,
১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)
The commas, figures and word `, 1999-2000, 2000-2001 and 2001-2002` were substituted for the word
216
and figures ` and 1999-2000` by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)12

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 151
 The commas, figures and word `, 2001-2002, 2002-2003, 2003-2004 and 2004-2005` were substituted
217 for the word and figures ` and 2001-2002` by section 37 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং
আইন)
The commas, figures and word `, 2004-2005, 2005-2006 and 2006-2007` were substituted for the word
218
and figures `and 2004-2005` by section 12 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
The colon (:) was substituted for the semi-colon (;) and the proviso was added by section 7 of অর্ থ
219
আইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The semi colon (;) was substituted for the colon (:) and the proviso was omitted by section 5 of অর্ থ
220
আইন, ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)
221 Clause (aa) was inserted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words, comma and Brackets “and মূল্্ সংন োজন র (value-added tax) thereon has not been
collected or deducted and credited in accordance with the provisions of মূল্্ সংন োজন র আইন,
222
১৯৯১ (১৯৯১ সননর ২২ নং আইন)” were omitted by section 22 (a) (i)) of অর্ থআইন, ২০১৬ (২০১৬
সননর ২৮ নং আইন).
223 Clause (aaa) was inserted by section 22 (a)(ii) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Clause (aaaa) was inserted by section 12 (a) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
224
effect from 1st July 2017).
225 Clause (e) was substituted by section 13 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
The words and comma “four lakh and seventy five thousand and to any employee who is a person with
226 disability, as exceeds taka twenty five lakh” were substituted for the words “four lakh and fifty
thousand” by section 22 (b) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
227 Clauses (g) and (h) were inserted by section 22 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)

The words `net profit disclosed in the statement of accounts` were substituted for the words `profit` by
228
section 11(b) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The words `eight percent` was substituted for the words `five percent` by the section 15 of the Finance
229
Act,2009(Act No.XXXVI of 2009)(with effect from 1st July 2009).
The words `net profit disclosed in the statement of accounts` were substituted for the words `profit` by
230
section 11(c) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The words `net profit disclosed in the statement of accounts` were substituted for the words `disclosed
231 net profit` by section 11(d) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July,
2014).
The words, figures, brackets and symbols “one point two five percent (1.25%)” were substituted for
232
the words “one percent” by section 22 (c) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The semi-colon (;) was substituted for the full stop (.) at the end and thereafter clauses (l) and (m) were
233
inserted by section 19 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The colon (:) was substituted for the semi-colon (;) and the proviso was added by section 12 (b) of অর্ থ
234
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The semi-colon `;` was substituted for the full-stop `.` and thereafter clause (n) was added by section
235
11(e) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The semi-colon (;) was substituted for the full-stop (.) and clause (o) was added by section 12 (c) of
236
অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
237 Section 30A was inserted by section 38 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The full stop (.) was substituted for the colon (:) after the words `in which the transfer took place` and
238
thereafter the proviso was ommitted by section 18 of the Finance Act, 2011 (Act No. XII of 2011) .
Sub-clauses (a) and (b) were omitted by section 10 of the Finance Ordinance, 1986 (Ordinance No.
239
XLV of 1986)
Sub-clauses (c), (cc) and (ccc) were substituted for the clause (c) by section 8 of অর্ থআইন, ১৯৯০
240
(১৯৯০ সননর ৪৫ নং আইন)
241 Sub-clause (c) was omitted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The colon (:) was substituted for the full-stop (.) and thereafter the proviso was added by section 10 of
242
the Finance Ordinance, 1986 (Ordinance No. XLV of 1986)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 152
243 The proviso was omitted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
244 The proviso was inserted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
245 The word “same” was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
246 Sub-section (7) was substituted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words “and stocks and shares of public companies listed with a stock exchange in Bangladesh”
247
was omitted by section 32 of the Finance Act,2010(Act No.XXXIII of 2010).
The words and comma “other than bonus share of a company,” were omitted by section 4 of অর্ থ
248
আইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
249 আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন),` were substituted for the words, comma and figures “the
Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন),` were substituted for the words, comma, figures and
250
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
Sub-section (11A) was omitted by section 16 of the Finance Act,2009(Act No.IX of 2009)(with effect
251
from 1st July 2007).
252 Sub-section (12) was inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words, brackets, figures and commas “sub-sections (5), (7), (10), and (11)” were substituted for
253 the words, brackets, figures and commas “sub-sections (5), (6), (7), (8), (9), (10) and (11)” by section 57
of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The numbers, words and brackets `(21A), (21B), (24), (26), (27) or (28) applies` were substituted for
254 the numbers, words and brackets `(21A) or (24) applies` by section 12 of the Finance Act, 2014 (Act No.
IV of 2014) (with effect from 1st July, 2014).
The words “, (28), (29) or (31)” were substituted for the words “ or 28” by section 18 of অর্ থআইন,
255
২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The inverted commas, the words and the comma “Agricultural income”, were inserted by section 7 of
256
অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)
Sub-section (2) was substituted by section 13(a) of the Finance Act, 2014 (Act No. IV of 2014) (with
257
effect from 1st July, 2014).
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)” were substituted the words, commas, figures and brackets
258
“the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং
আইন)
The words and comma “and every registered firm whose capital on the last day of any income year
259 was not less than five lakh taka” were omitted by section 4 of অর্ থআইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং
আইন)
The words, Words summarize and brackets `certified by a chartered accountant to the effect that the
accounts are maintained according to the Bangladesh Accounting Standard (BAS) and reported in
260 accordance with the Bangladesh Financial Reporting Standard (BFRS)` were substituted for the words
`certified by a chartered accountant` by section 13(b) of the Finance Act, 2014 (Act No. IV of 2014)
(with effect from 1st July, 2014).
The words, brackets and the word summaries “the accounts are maintained and the statements are
prepared and reported in accordance with the Bangladesh Accounting Standards (BAS) and the
Bangladesh Financial Reporting Standards (BFRS), and are audited in accordance with the
261 Bangladesh Standards on Auditing (BSA)” were substituted for the words, brackets and the word
summaries “the accounts are maintained according to the Bangladesh Accounting Standard (BAS) and
reported in accordance with the Bangladesh Financial Reporting Standard (BFRS)” by section 23 of
অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “or a registered firm” were omitted by section 6 of অর্ থআইন, ১৯৯৮ (১৯৯৮ সননর ১৪
262
নং আইন)
263 The proviso was substituted by section 14 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
The colon (:) was substituted for the full-stop (.) by section 19(a) of অর্ থআইন, ২০১৫ (২০১৫ সননর
264
১০ নং আইন) (with effect from 1st July 2015).
The proviso was added by section (18) of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st
265
July 2007).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 153
 The colon (:) was substituted for the full-stop (.) and thereafter the new proviso was added by section
266
19(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The word and commas “, bidi, zarda, chewing tobacco, gul or any other smokeless tobacco or tobacco
267 products” were inserted after this word “cigarette” by section 24 of অর্ থআইন, ২০১৬ (২০১৬ সননর
২৮ নং আইন).
The words “a firm” were substituted for the words “an unregistered firm” by section 6 of অর্ থআইন,
268
১৯৯৫ (১৯৯৫ সননর ১২ নং আইন).]
The words, commas and semi-colon (;) “and also, in the case of a registered firm, of the tax payable by
269
it;” were omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words “otherwise than by way of gift or for adequate consideration” were substituted for words
270 “otherwise than for adequate consideration” by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং
আইন)
The words “otherwise than by way of gift or for adequate consideration” were substituted for words
271 “otherwise than for adequate consideration” by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং
আইন)
The words “otherwise than by way of gift or for adequate consideration” were substituted for words
272 “otherwise than for adequate consideration” by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং
আইন)
The word “settlor” was substituted for the word “settler” by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯
273
সননর ৩৬ নং আইন)6
The word “settlor” was substituted for the word “settler” by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯
274
সননর ৩৬ নং আইন)7
The full stop (.) was substituted for the colon (:) and thereafter the proviso was omitted by section 8 of
275
অর্ থআইন, ১৯৮৮ (১৯৮৮ সননর ৩৩ নং আইন)
The word “settlor” was substituted for the word “settler” by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯
276
সননর ৩৬ নং আইন)10
The word “settlor” was substituted for the word “settler” by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯
277
সননর ৩৬ নং আইন)11
The word “settlor” was substituted for the word “settler” by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯
278
সননর ৩৬ নং আইন)
Sub-sections (2) and (3) were substituted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং
279
আইন)
Clauses (b) and (c) were substituted by section 25 (a) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং
280
আইন).
281 Sub-section (3) was omitted by section 25 (b) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “twenty five percent” were substituted for the words “twenty percent” by section 14 of the
282
Finance Act,2009(Act No.X of 2009)(with effect from 1st July 2008).
The full stop (.) was substituted for the colon (:) and thereafter the proviso was omitted by section 15
283
of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
284 Sub-section (5) was added by section 25(c) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Sub-sections (2A) and (2B) were inserted by section 8 of the Finance Ordinance, 1985 (Ordinance No.
285
XXXII of 1985)
The figure “1995” was substituted for the figure “2000” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১
286
সননর ২১ নং আইন)
The words “seven years” was substituted for the word “six years” by the Income tax (Amendment)
287
Ordinance, 1986 (Ordinance No. L of 1986)
The words “five years” was substituted for the word “four years” by the Income tax (Amendment)
288
Ordinance, 1986 (Ordinance No. L of 1986)
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)` were substituted for the words, comma, figures and
289
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
Clauses (c) and (cc) were substituted for the clause (c) by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর
290
২১ নং আইন)
291 Clause (c) was omitted by section 6 of অর্ থআইন, ১৯৯৪ (১৯৯৪ সননর ১৪ নং আইন)
The words and commas “during the period, or within one year from the end of the period,” were
292 substituted for the words “within two years from the end of the period” by section 6 of অর্ থআইন,
১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 154
 The words “thirty per cent” were substituted for the words “twenty five per cent” by section 6 of অর্ থ
293
আইন, ১৯৯৪ (১৯৯৪ সননর ১৪ নং আইন)
The colon (:) was substituted for the semi-colon (;) and thereafter the proviso was added by section 6
294
of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “one hundred and eighty days” were substituted for the words “one hundred and twenty
295
days” by section 10 of the Finance Act, 1986 (Act No. LXV of 1986)
The words “one hundred and eighty days” were substituted for the words “one hundred and twenty
296
days” by section 10 of the Finance Act, 1986 (Act No. LXV of 1986)
297 Sub-section (2C) was inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words “three months” were substituted for the words “six months” by section 8 of অর্ থআইন,
298
১৯৯২ (১৯৯২ সননর ২১ নং আইন)
299 The proviso was substituted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
300 Sub-section (8) was added by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
The words and commas “hunting lodges, amusement and theme park, holiday home, tourist resort,
301 family fun and games, energy park” were substituted for the words “hunting lodges” by section 50 of
অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
Sub-sections (2A) and (2B) were inserted by section 8 of the Finance Ordinance, 1985 (Ordinance No.
302
XXXII of 1985)
The figure “2000” was substituted for the figure “1990” by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯
303
সননর ৩৬ নং আইন)
The words “seven years” were substituted for the words “six years” by section 3 of the Income tax
304
(Amendment) Ordinance, 1986 (Ordinance No. L of 1986)
The words “five years” were substituted for the words “four years” by section 3 of the Income tax
305
(Amendment) Ordinance, 1986 (Ordinance No. L of 1986)
Clauses (c) and (cc) were substituted for former clause (c) by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২
306
সননর ২১ নং আইন)
307 Clause (c) was omitted by section 6 of অর্ থআইন, ১৯৯৪ (১৯৯৪ সননর ১১ নং আইন)
The words and comma “during the period, or within one year from the end of the period” were
308 substituted for the words and comma “within two years from the end of the period” by section 6 of
অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “twenty five per cent” were substituted for the words “twenty per cent.” by section 7 of
309
অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The colon (:) was substituted for the semi colon (;) and thereafter the proviso was added by section 6
310
of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “one hundred and eighty days” were substituted for the words “one hundred and twenty
311
days” by section 10 of the Finance Ordinance, 1986 (Ordinance No. XLV of 1986)
312 Sub-section (2C) was inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words “three months” were substituted for the words “six months” by section 8 of অর্ থআইন,
313
১৯৯২ (১৯৯২ সননর ২১ নং আইন)
314 Sub-section (8) was inserted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
315 Section 46A was inserted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words and figure “profits and gains under section 28 fromprofits” were substituted for the words
316
“profits and gains of” by section 18 of অর্ থআইন, ২০০৬ (২০০৬ সননর ২২ নং আইন)3
The word, comma and figure “June, 2008” were substituted for the word, comma and figure “June,
317
2005” by section 16 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
The words “Dhaka and Chittagong divisions” were substituted for the words and comma “Dhaka and
318
Chittagong and Sylhet divisions, ” by section 59 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The word “four” was substituted for the word “five” by section 16 of অর্ থআইন, ২০০৫ (২০০৫
319
সননর ১৬ নং আইন)
The words and commas “Rajshahi, Khulna, Sylhet and Barisal divisions” were substituted for the
320 words and commas “Rajshahi, Khulna and Barisal divisions” by section 59 of অর্ থআইন, ২০০০
(২০০০ সননর ১৫ নং আইন)
The word “six” was substituted for the word “seven” by section 16 of অর্ থআইন, ২০০৫ (২০০৫
321
সননর ১৬ নং আইন)
322 The Explanation was omitted by section 16 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
323 Sub-section (1A) was inserted by section 16 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 155
 The words and comma “solar energy plant,” were added after the words and comma “waste treatment
324
plant,” by section (19) of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
Clause (b) and the Explanation was omitted by section 16 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং
325
আইন)
326 Clause (c) was substituted by section 16 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
The colon was substituted for full-stop at the end of the existing proviso and thereafter a new proviso
327 was added by section 17 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect from 1st July
2009).
The words “within six months from the end of the month” were substituted for the words “within one
328
hundred eighty days from the date” by section 59 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)

329 Sub-section (2A) was substituted by section 24 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
The words “forty-five days” were substituted for the words “thirty days” by section 24 of অর্ থআইন,
330
২০০৩ (২০০৩ সননর ১৭ নং আইন)
The colon (:) was substituted for the full stop (.) and thereafter the proviso was inserted by section 40
331
of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
332 The proviso was substituted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The semi-colon (;) and the word “; and” were substituted and thereafter clause (c) was added by
333
section 51 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
The full stop (.) was substituted for the semi-colon (;) and clause (d) was omitted by section 16 of অর্ থ
334
আইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
335 Clause (bb) were inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
Clauses (bb) and (bbb) were substituted for former clause (bb) by section 7 of অর্ থআইন, ১৯৯১
336
(১৯৯১ সননর ২১ নং আইন)
sub-sections (1), (2), (3)and (4) were substituted by section 20 of the Finance Act, 2011 (Act No.XII of
337
2011)
The words, numbers and comma ”the thirtieth day of June, 2015” were substituted for the words,
338 numbers and comma “the thirtieth day of June, 2013” by section 13(b)(i) of the Finance Act, 2013 (Act
No. XXV of 2013) (with effect from 1st July, 2013).
The figure “2019” were substituted for the figure “2015” by section 14(b)(i) of the Finance Act, 2014
339
(Act No. IV of 2014) (with effect from 1st July, 2014).
Clause (i) and (ii) were substituted by section 13(b)(ii) of the Finance Act, 2013 (Act No. XXV of 2013)
340
(with effect from 1st July, 2013).
The words and comma “Dhaka, Mymensingh and” were substituted for the words “Dhaka and” by
341
section 13 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
Clause (ii) was substituted by section 14(b)(ii) of the Finance Act, 2014 (Act No. IV of 2014) (with
342
effect from 1st July, 2014).
Clause (aa) was inserted by section 20(a)(i) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
343
effect from 1st July 2015).
Clause (dd) was inserted by section 20(a)(ii) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
344
effect from 1st July 2015).
Clause (gg) was inserted by section 14(c) of the Finance Act, 2014 (Act No. IV of 2014) (with effect
345
from 1st July, 2014).
The words “or Tunnel Kiln” were inserted for the word “Hoffmann Kiln” by section 12(a)(iii) of অর্ থ
346
আইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words “or” was omitted and thereafter new clause (qq) was inserted by section 20(a)(iv) of অর্ থ
347
আইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words and commas “or any individual not being a Bangladeshi citizen is employed or allowed to
work without prior approval of the Board of Investment or any competent authority of the
348
Government, as the case may be, for this purpose” were inserted after the words “are not fulfilled” by
section 20(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words “not incorporated by or under any law” were substituted for the words “whether
349
incorporated or not” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 156
 The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)” were substituted for the words, comma, figures and
350
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
351 Section 46C was added by section 21 of the Finance Act, 2011 (Act No. XII of 2011) .
Sub-section (1) was substituted by section 14(b) of the Finance Act, 2013 (Act No. XXV of 2013) (with
352
effect from 1st July, 2013).
The figure “2019” was substituted for the figure “2015” by section 15(b) of the Finance Act, 2014 (Act
353
No. IV of 2014) (with effect from 1st July, 2014).
The words “toll road or bridge” were substituted for the words “toll road ` by section 21 of the
354
Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words and commas “or any individual not being a Bangladeshi citizen is employed or allowed to
work without prior approval of the Board of Investment or any competent authority of the
355
Government, as the case may be, for this purpose” were inserted after the words “are not fulfilled” by
section 20(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words “including a co-operative society carrying on the business of banking` was omitted by
356
section 22 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
Clause (a) and (c) was omitted by section 22 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
357
effect from 1st July 2015).
Clause (a) and (c) was omitted by section 22 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
358
effect from 1st July 2015).
The words “three lakh taka” were substituted for the words “one lakh taka” by section 6 of অর্ থ
359
আইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The word “fifteen” was substituted for the word “ten” by section 8 of the Finance Ordinance, 1985
360
(Ordinance No. XXXII of 1985)
361 Clause (aa) was inserted by section 52 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
Clause (bb) was omitted by section 2 of the Income Tax (Amendment) Ordinance No, 1985 (Ordinance
362
No. XXXVI of 1985)
Clause (d) was substituted by section 23(a) of the Finance Act, 2012 (Act No. XXVI of 2012) (with
363
effect from 1st July, 2012).
364 The word “and” was omitted by section 8 of অর্ থআইন, ১৯৮৮ (১৯৮৮ সননর ৩৩ নং আইন)
The semi colon (;) was substituted for the full-stop (.) and thereafter clauses (h) to (m) were added by
365
section 8 of অর্ থআইন, ১৯৮৮ (১৯৮৮ সননর ৩৩ নং আইন)
Clause (II) was inserted by section 16(a) of the Finance Act, 2014 (Act No. IV of 2014) (with effect
366
from 1st July, 2014).
367 Clause (l) was omitted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
368 The word “and” was omitted by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯ সননর ৩৬ নং আইন)
The semi-colon (;) was substituted for the full stop (.) and the word “and ” and clause (n) was inserted
369
by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯ সননর ৩৪ নং আইন)
370 The word “and” was omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
371 Clause (n) was substituted by section 52 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
The semi-colon (;) was substituted for the full-stop (.) and thereafter the clauses (o), (p) and (q) were
372
inserted by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)
373 Clause (oo) was inserted by section 26 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Clauses (r), (s), (t), (u), (v), (w), (x), (y) and (z) were inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯
374
সননর ১৬ নং আইন)
375 Clause (u) was omitted by section 60 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
376 Clause (v) was omitted by section 52 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
377 Clause (y) was omitted by section 60 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
378 Clauses (za), (zb) and (zc) were added by section 60 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
379 Clause (zb) was omitted by section 52 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
The semi-colon (;) was substituted for the full stop (.) and thereafter clause (zd) was inserted by section
380
52 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 157
 The semi colon (;) was substituted for the full stop (.) and thereafter clause (ze) was added by section
381
41 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The semi-colon (;) was substituted for the full stop (.) and thereafter clauses (zf), (zg), (zh) and (zi)
382
were inserted by section 17 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
Clause (zf) was substituted by section 19 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect
383
from 1st July 2009).
The words “any commodity” were substituted for the words “knitwear or oven garments” by section
384
20 of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The semi-colon (;) was substituted for the full-stop (.) and thereafter clauses (zj), (zk) and (zl) were
385
added by section 19 of অর্ থআইন, ২০০৬ (২০০৬ সননর ২২ নং আইন)
Clause (zk) was omitted by section 19 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect
386
from 1st July 2009).
Clause (zkk) was inserted by section 23(b) of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
387
from 1st July, 2012).
Clause (zl) was omitted by section 20 of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st
388
July 2009).
Clauses (zm), (zn) and (zo) were added by section 20(c) of the Finance Act,2009(Act No. IX of
389
2009)(with effect from 1st July 2009).
The words `issuance or` were omitted by section 16(a) of the Finance Act, 2009 (Act No. X of
390
2009)(with effect from 1st July 2008).
391 Clause (zn) was omitted by section 34(a) of the Finance Act, 2010 (Act No.XXXIII of 2010).
Semicolon was substituted for the full-stop and thereafter new clauses (zp), (zq), (zr) and (zs) were
392
added by section 16(b) of the Finance Act, 2009 (Act No. X of 2009)(with effect from 1st July 2008).
Semicolon was substituted for the full-stop at the end and thereafter clause (zt) was added by section
393
19 of the Finance Act, 2009 (Act No.XXXVI of 2009)(with effect from 1st July 2009).
Semi-colon (;) was substituted for the full-stop (.) at the end of clause (zt) and thereafter clauses (zu)
394
and (zv) were added by section 34(b) of the Finance Act, 2010 (Act No. XXXIII of 2010).
Clause (zu) was omitted by section 15(a) of the Finance Act, 2013 (Act No. XXV of 2013) (with effect
395
from 1st July, 2013).
The semi-colon (;) was substituted for the full stop (.) at the end of clause (zv) and thereafter the new
396
clauses (zw) and (zx) were added by section 22(a) of the Finance Act, 2011 (Act No. XII of 2011).
The semi-colon (;) was substituted for the full stop (.) at the end of clause (zx) and thereafter the new
397 clause (zy) was added by section 23(c) of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
from 1st July, 2012).
The semi-colon (;) was substituted for the full-stop (.) and thereafter clause (zz) was added by section
398
15(b) of the Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
The semi-colon “;” was substituted for the full-stop “.” and thereafter clauses (zza), (zzb), (zzc), (zzd)
399 and (zze) were added by section 16(b) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from
1st July, 2014).
The semi-colon (;) was substituted for the full stop (.) and thereafter clause (zzff) was inserted by
400
section 23 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words and comma `not being payments made by the government,` were omitted by section 22(b)
401
of the Finance Act, 2011 (Act No. XII of 2011).
Sub-sections (1A) and (1B) were inserted by section 24(A) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং
402
আইন) (with effect from 1st July 2015).
The word, figure and brackets “ sub-sections (1) and (1A)” were substituted for the word, figure and
403 brackets “sub-section (1)” by section 24(B) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
effect from 1st July 2015).
Sub-section (2A) was inserted by section 16 of the Finance Act, 2013 (Act No. XXV of 2013) (with
404
effect from 1st July, 2013).
The word, figure and brackets “ sub-sections (1) and (1A)” were substituted for the word, figure and
405 brackets “sub-section (1)” by section 24(C) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
effect from 1st July 2015).
The word, figure and brackets “ sub-sections (1) and (1A)” were substituted for the word, figure and
406 brackets “sub-section (1)” by section 24(D) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
effect from 1st July 2015).
407 Section 50A was inserted by section 5 of অর্ থআইন, ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 158
 The colon (:) was substituted for the full-stop (.) and thereafter the proviso was inserted by section 19
408
of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
409 Section 50B was added by section 23 of the Finance Act, 2011 (Act No. XII of 2011) .
410 Section 51 was substituted by section 27 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words, commas, figures Letters and brackets “সমবোয় সমমমি আইন, ২০০১ (২০০১ সননর ৪৭ নং
আইন) (Co-operative Societies Act, 2001) (Act No 47 of 2001)” were substituted for The words,
411
commas, figures Letters and brackets “the Co-operative Societies Act,1940 (Beng. Act XXI of 1940)” by
section 15(b) of The Finance Act, 2012 (Act No 26 of 2012)(with effect from 1st July 2012).
Section 52, 52A and 52AA were substituted by section 28 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং
412
আইন).
The proviso was substituted by section 14 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
413
effect from 1st July 2017).
Sub-section (1) was substituted by section 15 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
414
effect from 1st July 2017).
415 Section 52AAA was inserted by section 23 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
The words “ten percent” were substituted for the words “seven and half percent” by the sections 36 of
416
the Finance Act,2010(Act No.XXXIII of 2010).
417 Section 52B was substituted by section 29 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
418 Sub-section 52C was substituted by section 37 of the Finance Act,2010(Act No.XXXIII of 2010).
Sections 52D, 52E, 52F, 52G, 52H and 52I were inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯
419
সননর ১৬ নং আইন)
Section 52D and 52DD were substituted by section 30 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং
420
আইন).
421 Clause (25) was substituted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
422 Section 52F was substituted by section 21 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
423 Section 52F was substituted by section 21 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
Clauses (a), (b), (c) and (d) were substituted for clauses (a), (b) and (c) by section 21 of the Finance
424
Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
425 Clause (25A) was inserted by section 15 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
426 Clause (25AA) was inserted by section 11 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
427 Clause (dd) was inserted by section 27 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
428 Section 52JJ was substituted by section 31 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Section 52K was substituted by section 25 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
429
from 1st July, 2012).
The words and comma “Dhaka South City Corporation, Dhaka North City Corporation” were
430 substituted fof the words “Dhaka City Corporation” by section 16(a) of অর্ থআইন, ২০১৭ (২০১৭
সননর ১৪ নং আইন) (With effect from 1st July 2017).
The words “in any other city corporation” were substituted for the words and comma “in any city
431 corporation, other than Dhaka and Chittagong City Corporation” by section 16(b) of অর্ থআইন,
২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
432 Sub-clause (iiia) was inserted by section 27 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
433 Section 52L was omitted by section 40 of the Finance Act,2010(Act No.XXXIII of 2010).
Section 52M was inserted by section (29) of the Finance Act,2009(Act No.IX of 2009)(with effect from
434
1st July 2007).
The words `or credit of such payment to the account of the payee` were inserted after the words `at the
435
time of making such payment` by section 27 of the Finance Act, 2011 (Act No. XII of 2011) .
The words “fifteen percent” were substituted for the words “seven and half percent” by section 41 of
436
the Finance Act,2010(Act No.XXXIII of 2010).
Section 52N was inserted by section 4 of the Income Tax (Amendment) Act, 2009 (Act No. XI of 2009)
437
(with effect from 1st July, 2007).
The commas and words `, for a term not exceeding three years from the date of its operation in
438
Bangladesh,` were omitted by section 28 of the Finance Act, 2011 (Act No. XII of 2011) .
The words “six per cent” were substituted for the words “four per cent” by section 23 of the Finance
439
Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 159
 The words “which shall be treated as final discharge of tax liability of the rental power company
440 regarding the sale of such rental power” were omitted after the words “four percent” by section 26 of
the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
Section (52O) was added by section 21 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect
441
from 1st July 2009).
442 Sections 52P was added by section 29 of the Finance Act, 2011 (Act No. XII of 2011) .
443 Sections 52Q was added by section 29 of the Finance Act, 2011 (Act No. XII of 2011) .
Section 52R was added by section 27 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
444
from 1st July, 2012).
The words, figures, symbol and brackets “one point five percent (1.5%)” were substituted the words
445
“one percent” by section 32 (a) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words, figures, symbol and brackets “seven point five percent (7.5%)” were substituted the words
446
“five percent” by section 32 (b) by section 22 (a)(ii) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Sub-section (2A) was inserted by section 17(a) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
447
effect from 1st July 2017).
The words, figures and brackets “sub-sections (1), (2) or (2A)” were substituted for the words, figures
448 and brackets “sub-section (1) or (2)” by section 17 (b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং
আইন) (With effect from 1st July 2017).
449 Sub-clause (iv) was omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Section 52S was inserted by section 20 of the Finance Act, 2013 (Act No. XXV of 2013) (with effect
450
from 1st July, 2013).
The words “or mineral or bottled water” were inserted after the words “soft drink” by section 24(b) of
451
the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The words, figure, symbol and brackets “ four per cent (4%)” were substituted for the words “ three
452 per cent ” by section 32 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July
2015).
The words “or mineral or bottled water” were inserted after the words “soft drink” by section 24(b) of
453
the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
Section 52T, 52U and 52V were added by section 25 of the Finance Act, 2014 (Act No. IV of 2014)
454
(with effect from 1st July, 2014).
The commas and words “, computer or computer accessories, jute, cotton, yarn ” were inserted after
455 the words “ cassia leaf ” by section 33 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
from 1st July 2015).
The words “and includes a person appointed to hold current charge of an Extra Assistant
456
Commissioner of Taxes” were added by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Section 53 of sub-section (1) was substituted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং
457
আইন)
The words “The Commissioner of Customs” were substituted for the words “The Collector of
458
Customs” by section 55 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
The words “and the bank through which the exporters receive payment shall make collection of tax
459 payable by the exporters on account of export of goods” were omitted by section 28(b) of the Finance
Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words “and exporters” were omitted by section 28(c) of the Finance Act, 2012 (Act No. XXVI of
460
2012) (with effect from 1st July, 2012).
The words “or exporter” were omitted by section 28(d) of the Finance Act, 2012 (Act No. XXVI of
461
2012) (with effect from 1st July, 2012).
Sections 53A, 53B, 53C and 53D were inserted by section 8 of অর্ থআইন, ১৯৮৮ (১৯৮৮ সননর ৩৩
462
নং আইন)
463 Sub-section (1) was substituted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
The words “any company as defined in clause (20) of section 2” were substituted for the words,
464 brackets and figure “any company as defined in the Companies Act, 1913 (VII of1913) ” by section 6 of
অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words “donation or assistance or any university or medical college or dental college or engineering
465 college” were substituted for the words “donation or assistance” by section 26 of অর্ থআইন, ২০০৪
(২০০৪ সননর ১৬ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 160
 The words “or any college or school” were inserted after the words “engineering college” by section
466
29(a) of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words “or hospital or clinic or diagnostic centre” were inserted after the words “any college or
467
school” by section 26 of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The words “at the rate of five percent” were substituted for the words “such amount as may be
468 prescribed” by section 29(b) of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st
July, 2012).
469 The Explanation was added by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “a certificate is received in prescribed manner from Deputy Commissioner of Taxes
470 concerned and” were inserted after the word “unless” by section 34 of অর্ থআইন, ২০১৫ (২০১৫
সননর ১০ নং আইন) (with effect from 1st July 2015).
The words “five percent” were substituted for the words “four percent” by section 30 of the Finance
471
Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The colon(:) was substituted for the full-stop at the end and thereafter proviso was added by section 22
472
of the Finance Act,2009(Act No.XXXVI of 2009)(with effect from 1st July 2009).
The words “at such percentage” were substituted for the words and the comma “at such rate, not
473
exceeding seven and a half per cent.” by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The Section (53BB) was substituted by section 23 of the Finance Act,2009(Act No.XXXVI of
474
2009)(with effect from 1st July 2009).
The words , figure, mark and brackets “zero point five zero percent (0.50%)” were substituted for the
475 words, figure, mark and brackets “zero point two five percent (0.25%)” by section 42 of the Finance
Act,2010(Act No.XXXIII of 2010).
The words, figures, symbol and brackets “one percent (1%)” were substituted the words, figures,
476 symbol and brackets “zero point eight zero percent (0.80%)” by section 33 of অর্ থআইন, ২০১৬
(২০১৬ সননর ২৮ নং আইন).
477 Section 53BBB was inserted by section 24 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
The words , figure, mark and brackets “zero point zero five percent (0.05%)” were substituted for the
478 words, figure, mark and brackets “zero point zero two five percent (0.025%)” by section 43 of the
Finance Act,2010(Act No.XXXIII of 2010).
The words, figures, point and bracket `zero point one zero percent (0.10%) ` were substituted for the
479 words, figures, point and bracket `zero point five zero percent (0.05%)` by section 31 of the Finance
Act, 2011 (Act No. XII of 2011) .
The comma and word “, bonds” were omitted by section 21 of the Finance Act, 2013 (Act No. XXV of
480
2013).
Section 53BBBB was substituted by section 25 of the Finance Act,2009(Act No.XXXVI of 2009)(with
481
effect from 1st July 2009).
The words , figure, mark and brackets “zero point five zero percent (0.50%)” were substituted for the
482 words, figure, mark and brackets “zero point two five percent (0.25%)” by section 44 of the Finance
Act,2010(Act No.XXXIII of 2010).
The words, figures, symbol and brackets “one percent (1%)” were substituted the words, figures,
483 symbol and brackets “zero point eight zero percent (0.80%)” by section 34 of অর্ থআইন, ২০১৬
(২০১৬ সননর ২৮ নং আইন).
The words “public auction through sealed tender or otherwise” were substituted for the words “public
484
auction” by section 4 of অর্ থআইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The commas and words `, other than a private limited company,` were omitted after the words `the
485 force of law in Bangladesh or any company` by section 33 (a) of the Finance Act, 2011 (Act No. XII of
2011) .
The words, commas, figures, and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮নং আইন)` were substituted for the words, comma, figures and
486
brackets “ the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর
১২ নং আইন)
The words, figures, comma and brackets `the Companies Act, 1913 (VII of 1913) or` were omitted by
487
section 33(b) of the Finance Act, 2011 (Act No. XII of 2011) .
488 Clause (30) was substituted by section 53 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
Section 53CC was omitted by section 35 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
489
from 1st July 2015).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 161
490 Section 53CCC was inserted by section 35 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
491 Section 53D was substituted by section 34 of the Finance Act, 2011 (Act No. XII of 2011) .
The colon (:) was substituted for the full stop (.) at the end and thereafter the proviso was inserted by
492
section 32 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words, commas and the semi-colon (;) “but does not include, in the case of a shareholder of a
Bangladeshi company, the amount representing the face value of any bonus shares or the amount of
493
any bonus declared, issued or paid by the company to its shareholders with a view to increasing its paid-
up share capital;” were omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Section (53DD) was omitted by section 26 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect
494
from 1st July 2009).
Section 53DDD was inserted by section 33 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
495
from 1st July, 2012).
The words “three per cent” were substituted for the words “five percent” by section 27 of the Finance
496
Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
Section 53E was substituted by section 18 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
497
effect from 1st July 2017).
498 Section 53EE was inserted by section 66 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The words, figure, symbol and brackets “ten per cent (10%)” were substituted for the words “ seven
499 and a half per cent ” by section 37 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from
1st July 2015).
Section 53F was substituted by section 34 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
500
from 1st July, 2012).
The words “twelve-digit Taxpayer’s Identification Number” were substituted for the words
501 “Taxpayer’s Identification Number” by section 29(a) of the Finance Act, 2014 (Act No. IV of 2014)
(with effect from 1st July, 2014).
The words “twelve-digit Taxpayer’s Identification Number” were substituted for the words
502 “Taxpayer’s Identification Number” by section 29(b) of the Finance Act, 2014 (Act No. IV of 2014)
(with effect from 1st July, 2014).
Clause (c) was inserted by section 38(a) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
503
from 1st July 2015).
Sub-sections (2) and (3) were substituted by section 37 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং
504
আইন).
505 Section 53FF was inserted by section 26 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
506 Clause (a) was substituted by section 47 of the Finance Act,2010(Act No.XXXIII of 2010).
The words and commas `, constructed for residential purposes,` were inserted after the words `in case
507
of building or apartment` by section 36 (a) of the Finance Act, 2011 (Act No. XII of 2011).
Sub-clause (i), (ii) and (iii) were substituted for Sub-clause (i) and (ii) by section 36 (a) of the Finance
508
Act, 2011 (Act No. XII of 2011).
The words ” one thousand and six hundred” were substituted for the words “two thousand” by section
509
23(a)(i) of the Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
The words ” one thousand and five hundred” were substituted for the words “one thousand and eight
510 hundred” by section 23(a)(ii) of the Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July,
2013).
511 Sub-clause (iii) was substituted by section 38(a) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
512 Clause (aa) was added by section 36 (b) of the Finance Act, 2011 (Act No. XII of 2011) .
The words ”six thousand and five hundred” were substituted for the words “eight thousand” by
513
section 23(b)(i) of the Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
The words ”five thousand” were substituted for the words “six thousand” by section 23(b)(ii) of the
514
Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
515 Sub-clause (iii) was substituted by section 38 (b) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Clause (b) was substituted by section 35 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
516
from 1st July, 2012).
The words “five percent” was substituted for the words “five percent” by section 48 of the Finance
517
Act,2010(Act No.XXXIII of 2010).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 162
 The full-stop was substituted for the colon at the end and the proviso was omitted by section 19 of the
518
Finance Act,2009(Act No.X of 2009)(with effect from 1st July 2008).
The words “forty thousand taka” were substituted for the words “twenty-five thousand taka” by
519
section 67 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The words “fifteen percent” were substituted for the words “seven and half percent” by section 49 of
520
the Finance Act,2010(Act No.XXXIII of 2010).
The comma and words “, and includes a Senior Inspecting Joint Commissioner of Taxes” were added
521
by section 10 of the Finance Ordinance, 1986 (Ordinance No. XLV of 1986)
Section (52GGG) was omitted by section 39 of the Finance Act,2009(Act No.IX of 2009)(with effect
522
from 1st July 2007).
Section 53H was substituted by section 30 of the Finance Act, 2014 (Act No. IV of 2014) (with effect
523
from 1st July, 2014).
The “Explanation” was omitted by section 39 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
524
effect from 1st July 2015).
Section 53HH was inserted by section 31 of the Finance Act, 2014 (Act No. IV of 2014) (with effect
525
from 1st July, 2014).
The words and commas “or from any other person being an individual, a firm, an association of
persons, a Hindu undivided family, a company or any artificial juridical person” were inserted after
526
the words “under any law” by section 40 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
effect from 1st July 2015).
527 Section 53I was inserted by section 20 of the Finance Ordinance, 2008 (Ord. No. 33 of 2008).
528 First proviso was omitted by section 50 of the Finance Act,2010(Act No.XXXIII of 2010).
529 The word “further” was omitted by section 50 of the Finance Act,2010(Act No.XXXIII of 2010).
Section (53J) was inserted by section 20 of the Finance Act,2009(Act No.X of 2009)(with effect from 1st
530
July 2008).
The words `or credit of such payment to the account of the payee` were inserted after the words `at the
531
time of such payment` by section 38 of the Finance Act, 2011 (Act No. XII of 2011) .
The words “of five percent” were substituted for the words “prescribed by the Board” by section 37 of
532
the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words “an Inspecting Additional Commissioner of Taxes” were substituted for the words “a
533 Senior Inspecting Joint Commissioner of Taxes” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১
নং আইন)
The words “and also a person appointed to hold current charge of an Inspecting Joint Commissioner
534
of Taxes” were added by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Section (53k) was inserted by section 20 of the Finance Act,2009(Act No.X of 2009)(with effect from
535
1st July 2008).
The words “or private radio station” were inserted after the words “private television channel” by
536
section 38(b) of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words “private radio station or any web site on account of advertisement of purchasing airtime of
private television channel or radio station or such web site” were substituted for the words “private
537
radio station on account of advertisement of purchasing airtime of private television channel or radio
station” by section 32(b) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The words “or any person on account of advertisement or” were substituted for the words “on account
538 of advertisement of ” by section 41(a) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
from 1st July 2015).
The words, figure, symbol and brackets “ four per cent (4%)” were substituted for the words “ three
539 per cent ” by section 41(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July
2015).
540 Clause (45) was substituted by section 8 of অর্ থআইন, ২০০৬ (২০০৬ সননর ২২ নং আইন)
541 Section 53L and 53M were inserted by section 51 of the Finance Act,2010(Act No.XXXIII of 2010).
Section 53L was omitted by section 24 of the Finance Act, 2013 (Act No. XXV of 2013) (with effect
542
from 1st July, 2013).
Section 53N and 53O were inserted by section 33 of the Finance Act, 2014 (Act No. IV of 2014) (with
543
effect from 1st July, 2014).
544 Clause (53) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 163
 section 53O was omitted by section 42 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
545
from 1st July 2015).
section 53P was inserted after the section 53O by section 43 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং
546
আইন) (with effect from 1st July 2015).
section 54 was substituted by section 44 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
547
from 1st July 2015).
The words “payable on the amount at the rate of twenty-five per cent” were substituted for the words,
548 figure, brackets and letter “payable on the amount at the rates specified in paragraph 3(b) of the
Second Schedule” by section 6 of অর্ থআইন, ১৯৯৪ (১৯৯৪ সননর ১১ নং আইন)
549 Section 56 was substituted by section 39 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “or Digital marketing” were added after the words “Advertisement making” by section 19
550
of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
551 Section 57 was substituted by section 40 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
552 Section 57A was inserted by section 41 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
553 Section 58 was substituted by section 42 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “the cases in which” were substituted for the word “that” by section 20 of অর্ থআইন,
554
২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The words and commas “, along with the proof of payment of such tax to the account of the
555 Government,” were inserted after the word “furnished” by section 43 of অর্ থআইন, ২০১৬ (২০১৬
সননর ২৮ নং আইন).
556 The third proviso was omitted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
557 Sub-clause (e) was added by section 6 of the অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
558 Section 62A was omitted by section 39 of the Finance Act, 2011 (Act No. XII of 2011).
The words “four lakh taka” were substituted for the words “three lakh taka” by section 52 of the
559
Finance Act,2010(Act No.XXXIII of 2010).
The words “excluding gain from transfer of share of a company listed with a stock exchange” was
560 inserted after word and mark “Capital gains” by section 52 of the Finance Act,2010(Act No.XXXIII of
2010).
The words “The minimum amount of advance tax” were substituted for the words “The amount of
561 advance tax” by section 21 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July
2017).
The colon (:) was substituted for the full stop (.) and therafter the proviso was added by section of the
562
Finance Ordinance, 1985 (Ordinance No. XXXII of 1985)
The words “four lakh taka” were substituted for the words “three lakh taka” by section 53 of the
563
Finance Act,2010(Act No.XXXIII of 2010)(with effect from 1st July 2010).
564 Sections 68A and 68B were inserted by section 44 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “ten per cent” were substituted for the words “twelve per cent” by section 6 of অর্ থআইন,
565
১৯৯৪ (১৯৯৪ সননর ১১ নং আইন)
The words “first day of July of the year of assessment” were substituted for the words “first day of
566 July of the year in which the advance tax was paid” by section 6 of অর্ থআইন, ১৯৯৮ (১৯৯৮ সননর
১৪ নং আইন)
The words “first day of July” were substituted for the words “first day of April” by section 5 of অর্ থ
567
আইন, ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)
568 Sections 73 and 73A were substituted by section 45 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words, figures and brackets “the acceptance of revised return or the assessment made as a result
569 of the audit under section 82BB(7)” were substituted for the words, figures and brackets “an
assessment under section 82BB(3)”
The words, figure and brackets “clause (a) of” were omitted by section 23(a) of অর্ থআইন, ২০১৭
570
(২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
Clause (i) was substituted by section 23(b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
571
effect from 1st July 2017).
Sub-section (1) was substituted by section 35 of the Finance Act, 2014 (Act No. IV of 2014) (with effect
572
from 1st July, 2014).
The words and brackets “sub-section (4) of section 82C” were substituted for the words “section
573
16CCC” by section 46 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 164
574 Sections 75, 75A and 75AA by section 47 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Sub-clause (ix) was added by section 24(a)(i) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
575
effect from 1st July 2017).
The words “any law governing value added tax” were substituted for the words, comma, figures and
576 brackets “মূল্্ সংন োজন র আইন, ১৯৯১ (১৯৯১ সননর ২২ নং আইন)” by section 24(a)(ii) of অর্ থ
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The words “education or training on deputation or leave” were substituted for the words “education
577 on deputation” by section 24(b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st
July 2017).
The word, figure and brackets “clause (b)” were substituted for the word, figure and bracket “clause
578
(c)” by section 25(a) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The words “the cases in which the” were substituted for the words “that any” by section 25(b) of অর্ থ
579
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
Section 75B was added after the section 75 by section 43 of the Finance Act, 2011 (Act No. XII of 2011)
580
.
Section 75C was added after the section 75B by section 44 of the Finance Act, 2011 (Act No. XII of
581
2011).
582 Clause (59A) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
583 Section 76 was omitted by section 48 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
584 Sub-section (1) was substituted by section 62 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
The words “twenty-one days” were substituted for the words “thirty days” by section 8 of অর্ থআইন,
585
১৯৯২ (১৯৯২ সননর ২১ নং আইন)
Section 79 was substituted by section 26 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect
586
from 1st July 2017).
587 Section 80 was substituted by section 49 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “twenty five” were substituted for the words “twenty” by section 27 of অর্ থআইন, ২০১৭
588
(২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
Section (82) was substituted by section 26 of the Finance Act,2009(Act No.X of 2009)(with effect from
589
1st July 2008).
The word, figure and brackets “sub-section (5)” were substituted for the words, figures and brackets
590 “clause (c) of sub-section (2)” by section 28 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
effect from 1st July 2017).
The word “and” was omitted by section 37(a) of the Finance Act, 2014 (Act No. IV of 2014) (with
591
effect from 1st July, 2014).
The semi-colon and word “; and” were substituted for the full-stop “.” and thereafter clause (d) was
592
added by section 37(b) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).

593 Sections 82A and 82B were inserted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words and comma “on the basis of such assessment, and communicate the assessment order to the
594 assessee within thirty days next following” were substituted for the words “on the basis of such
assessment” by section 4 of অর্ থআইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The word “and” was omitted by section 38(a) of the Finance Act, 2014 (Act No. IV of 2014) (with
595
effect from 1st July, 2014).
596 Clause (b) was substituted by section 4 of অর্ থআইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The words, figures and brackets “clause (c) of sub-section (3) of section 75” were substituted for the
597 word, figures and brackets “section 75 (2) (d)” by section 29 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং
আইন) (With effect from 1st July 2017).
The semi-colon and word “; and” were substituted for the full-stop “.” and thereafter clause (c) was
598
added by section 38(b) of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
599 Clause (62) was substituted by section 9 of অর্ থআইন, ২০০৫ (২০০৫ সননর ১৬ নং আইন)
Section (82B) was omitted by section 27 of the Finance Act,2009(Act No.X of 2009)(with effect from 1st
600
July 2008).
601 Sub-section (1) was substituted by section 29 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 165
 Section 82BB was substituted by section 30 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
602
effect from 1st July 2017).
603 Section 82C was substituted by section 51 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The comma and figure “, 53E” were inserted after the figure “53DDD” by section 31(a)(i) of অর্ থ
604
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The words “applicable rate” were substituted for the words “regular rate” by section 31(a)(ii) of অর্ থ
605
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The words “regular tax rate” were substituted for the words “regular rate” by section 31(b) of অর্ থ
606
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
607 Section 82D was inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
608 Section 83 was substituted by section 6 of অর্ থআইন, ১৯৯৮ (১৯৯৮ সননর ১৪ নং আইন)
609 Clause (63) was omitted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
Section (83A) was omitted by section 29 of the Finance Act,2009(Act No.X of 2009)(with effect from
610
1st July 2008).
The words and comma “a portion, not exceeding twenty per cent” were omitted by section 31 of অর্ থ
611
আইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
612 Clause (67) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
Section (83AA) was omitted by section 29 of the Finance Act,2009(Act No.X of 2009)(with effect from
613
1st July 2008).
The words, commas, figures and brackets “for the assessment year commencing on or after the first
614 day of July, 1997 and ending on or before thirtieth day of June, 1999 (both days inclusive)” were
omitted by section 6 of অর্ থআইন, ১৯৯৮ (১৯৯৮ সননর ১৪ নং আইন)
615 Section 83AAA was inserted by section 73 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
616 Section 84 was substituted by section 55 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The Semi-colon, words and commas “; and in the case of firm, may refuse to register it or may cancel
617 its registration if it is already registered,” were omitted by section 49 of অর্ থআইন, ২০১৫ (২০১৫
সননর ১০ নং আইন) (with effect from 1st July 2015).
The words and commas “or any Joint Director General, Central Intelligence Cell or Deputy Director
618 General, Central Intelligence Cell authorised by him” were added by Section 8 of the Finance Act,
2009((Act No.IX of 2009)(with effect from 1st July 2007).
619 Clause (a) was omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words “a firm” were substituted for the words “an unregistered firm” by section 6 of অর্ থআইন,
620
১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The word “income” was substituted for the word “tax” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫
621
সননর ১২ নং আইন)
Section 93 was substituted by section 32 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect
622
from 1st July 2017)
Sub-sections (1) and (2) were substituted for the sub-sections (1), (1A), (1B) and (2) by section 33 of
623
অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The figure, letter and comma “152E,” were omitted by section 56 of অর্ থআইন, ২০০২ (২০০২ সননর
624
১৪ নং আইন)
The words “shall be made within thirty days” were substituted for the words “ may be made within
625
sixty days” by section 56 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The words “within sixty days from the date on which the order was communicated” were substituted
626 for the words “within two years from the end of the year in which the order was made” by section 8 of
অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং আইন)
The words “and communicate such revised order to the assessee within thirty days next following”
627
were inserted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The colon (:) was substituted for the full-stop (.) and thereafter the proviso was added by section 33 of
628
অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
The words, figures and commas “sections 120, 121A, 156, 159, 161 or 162” were substituted for the
629 words, figures and commas “sections 120, 156, 159,161 or 162” by section 33 of the Finance
Act,2009(Act No.XXXVI of 2009)(with effect from 1st July 2009).
The words, figures and commas “sections 120, 121A, 156, 159, 161 or 162” were substituted for the
630 words, figures and commas “sections 120, 156, 159,161 or 162” by section 33 of the Finance
Act,2009(Act No.XXXVI of 2009)(with effect from 1st July 2009).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 166
 The words and commas “any Director, Central Intelligence Cell or any Joint Director, Central
Intelligence Cell or Deputy Director, Central Intelligence Cell or Assistant Director, Central
Intelligence Cell” were substituted for the words and commas “any Additional Director General,
631
Central Intelligence Cell or any Joint Director General, Central Intelligence Cell or Deputy Director
General, Central Intelligence Cell ` by section 15(d) of the Finance Act, 2012 (Act No. XXVI of 2012)
(with effect from 1st July, 2012).
The words, commas, brackets and figures “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)” were substituted for the words, comma, brackets and
632
figures “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬
নং আইন)
633 Section 102 was substituted by section 12 of অর্ থআইন, ১৯৮৯ (১৯৮৯ সননর ৩৬ নং আইন)
The colon (:) was substituted for the full-stop (.) and the proviso was added by section 34 (a) of অর্ থ
634
আইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
The words “Commissioner of Customs” were substituted for the words “Collector of Customs” by
635
section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Sub-section (8) was added by section 34 (b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
636
effect from 1st July 2017).
The semi-colon(;) and word `; or` were omitted by section 7 of the Finance Act,2009(Act No.XXXVI of
637
2009)(with effect from 1st July 2009).
638 Section 103A was inserted by section of অর্ থআইন, ১৯৮৯ (১৯৮৯ সননর ৩৬ নং আইন)
The words, commas, figures and brackets “the Gift-tax Act, 1963 (XIV of 1963) or দোন র আইন,
639 ১৯৯০ (১৯৯০ সননর ৪৪ নং আইন)` were substituted for the words, comma, figures and brackets “the
Gift-tax Act, 1963 (XIV of 1963)” by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
“CHAPTER XIA” was inserted by section 45 of the Finance Act, 2012 (Act No. XXVI of 2012) (with
640
effect from 1st July, 2012).
Section 107EE was inserted by section 42 of the Finance Act, 2014 (Act No. IV of 2014) (with effect
641
from 1st July, 2014).
Section 107F was substituted by section 50 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
642
effect from 1st July 2015).
Section 107HH was inserted by section 51 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
643
effect from 1st July 2015).
The words “from a Chartered Accountant” were omitted by section 52 of অর্ থআইন, ২০১৬ (২০১৬
644
সননর ২৮ নং আইন).
The words “fifteen thousand taka” were substituted for the words “five thousand taka” by section 10
645
of the Finance Ordinance, 1986 (Ordinance No. XLV of 1986)
Sub-clause (c) was omitted by section 5(c) of the Finance Act, 2014 (Act No. IV of 2014) (with effect
646
from 1st July, 2014).
The words and commas “the Commissioner, the Director General, Central Intelligence Cell,” were
647 substituted for the words “ the Commissioner” by section 34 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬
নং আইন)
Commas and words “, the Director General, Central Intelligence Cell, and by any other officer,
648 without the approval of the board” were omitted by section 45 of the Finance Act,2009(Act No.IX of
2009)(with effect from 1st July 2007).
The words and comma “Senior Commissioner, the” were omitted by section 6 of অর্ থআইন, ১৯৯৫
649
(১৯৯৫ সননর ১২ নং আইন)
The words “Directors-General of Inspection” were substituted for the words “Director of Inspection”
650
by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words and commas “the Commissioner, the Director General, Central Intelligence Cell,” were
651 substituted for the words “the Commissioner” by section 35 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং
আইন)
The words , numbers, bracket and commas “require any such person or any other person in relation to
such enquiry to appear before him at the time and place as directed for providing any information or
to produce or cause to be produced necessary documents, accounts or records including any electronic
records and systems referred to in the Explanation of sub-section (2) of section 117 under the
652
possession or control of such person or such other person” were substituted for the words and comma
“require any such person to produce, or cause to be produced, any accounts or documents which they
may consider necessary” by section 27 of the Finance Act, 2013 (Act No. XXV of 2013) (with effect
from 1st July, 2013).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 167
 The words and comma “the Senior Commissioner,” were omitted by section 6 of অর্ থআইন, ১৯৯৫
653
(১৯৯৫ সননর ১২ নং আইন)
The words “Directors-General of Inspection” were substituted for the words “Director of Inspection”
654
by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words and commas “the Commissioner, the Director General, Central Intelligence Cell,” were
655 substituted for the words “the Commissioner” by section 35 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং
আইন)
The words and commas “the Commissioner, the Director General, Central Intelligence Cell,” were
656 substituted for the words “the Commissioner” by section 35 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং
আইন)
The words “Senior Commissioner or” were omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর
657
১২ নং আইন)
Section 116A was inserted by section 28 of the Finance Act, 2013 (Act No. XXV of 2013) (with effect
658
from 1st July, 2013).
The words “the Senior Commissioner or” were omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫
659
সননর ১২ নং আইন)
The words “Directors-General of Inspection” were substituted for the words “Director of Inspection”
660
by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words and commas “the Commissioner, the Director General, Central Intelligence Cell,” were
661 substituted for the words “the Commissioner” by section 36 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং
আইন)
The words and comma “or electronic records and systems,” were inserted by section 59 of the Finance
662
Act,2010(Act No.XXXIII of 2010).
The words and comma “or electronic records and systems,” were inserted by section 59 of the Finance
663
Act,2010(Act No.XXXIII of 2010).
The words “Assistant Commissioner of Taxes” were substituted for the words “Deputy Commissioner
664 of Taxes” by section 46(a) of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July,
2012).
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
665
Act,2010(Act No.XXXIII of 2010).
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
666
Act,2010(Act No.XXXIII of 2010).
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
667
Act,2010(Act No.XXXIII of 2010).
The semi-colon (;) was substituted for the full stop (.) at the end of clause (f) and thereafter new clause
668
(g) was added by section 47(a) of the Finance Act, 2011 (Act No. XII of 2011) .
“Explanation” was inserted after the sub-section (2) by section 46(b) of the Finance Act, 2012 (Act No.
669
XXVI of 2012) (with effect from 1st July, 2012).
The words `or any professional expert from outside the government` were inserted after the words
670
`government` by section 47 (b) of the Finance Act, 2011 (Act No. XII of 2011) .
The words `or professional expert` were inserted after the words `every such officer` by section 47 (b)
671
of the Finance Act, 2011 (Act No. XII of 2011) .
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
672
Act,2010(Act No.XXXIII of 2010).
Colon(:) was substituted for the full-stop at the end of sub-section(4) and thereafter proviso was added
673
by section 46 of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
674
Act,2010(Act No.XXXIII of 2010).
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
675
Act,2010(Act No.XXXIII of 2010).
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
676
Act,2010(Act No.XXXIII of 2010).
The words and commas “the books of accounts, documents, electronic records and systems” were
677 substituted for the words “the books of accounts and documents” by section 59 of the Finance
Act,2010(Act No.XXXIII of 2010).
The words and comma “or electronic records and systems” were inserted by section 59 of the Finance
678
Act,2010(Act No.XXXIII of 2010).
The words and comma “or electronic records and systems” were inserted by section 59 of the Finance
679
Act,2010(Act No.XXXIII of 2010).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 168
 The words “the Senior Commissioner or” were omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫
680
সননর ১২ নং আইন)
The words “the Senior Commissioner or” were omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫
681
সননর ১২ নং আইন)
The words and comma “electronic records and systems,” were inserted by section 59 of the Finance
682
Act,2010(Act No.XXXIII of 2010).
The words and comma “or electronic records and systems” were inserted by section 59 of the Finance
683
Act,2010(Act No.XXXIII of 2010).
The words and comma “or electronic records and systems” were inserted by section 59 of the Finance
684
Act,2010(Act No.XXXIII of 2010).
685 Section 117A was inserted by section 32 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
The words and comma “without prejudice to the provisions of section 75AA,” were inserted after the
686 words and comma “any other law for the time being in force,” by section 53 of অর্ থআইন, ২০১৬
(২০১৬ সননর ২৮ নং আইন).
The words “the Senior Commissioner or” were omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫
687
সননর ১২ নং আইন)
The words “Directors-General of Inspection” were substituted for the words “Director of Inspection”
688
by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
Section 120 was substituted by section 35 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
689
effect from 1st July 2017).
Clause 35 was substituted by section 9 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect
690
from 1st July 2016).
Section 121 was omitted by section 47 of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st
691
July 2007).
The words “sixty days” were substituted for the words “ninety days” by section 24 of অর্ থআইন,
692
২০০৬ (২০০৬ সননর ২২ নং আইন)
Section 121A was added by section 34 of the Finance Act,2009(Act No.XXXVI of 2009)(with effect
693
from 1st July 2009).
The words and commas “the Director General, Central Intelligence Cell,” were inserted after the
694
words and commas “the Commissioner,” by section 60 of the Finance Act,2010(Act No.XXXIII of 2010).
Section 123 was substituted by section 44 of the Finance Act, 2014 (Act No. IV of 2014) (with effect
695
from 1st July, 2014).
696 Section 124 was substituted by section 37 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
The words and figure “, 93(1) and or withholding tax required under section 75A” were inserted for
697
the word, figures and brackets “or 93(1)” by section 48 of the Finance Act, 2011 (Act No. XII of 2011).
The words “taka one thousand” were substituted for the words “taka two thousand five hundred” by
698
section 48 of the Finance Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The words “taka fifty” were substituted for the words “taka two hundred and fifty” by section 48 of
699
the Finance Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The colon (:) was substituted for the full-stop (.) at the end and thereafter proviso was inserted by
700
section 52 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The word “or” was substituted for comma(,) by section 48 of the Finance Act,2009(Act No.IX of
701
2009)(with effect from 1st July 2007).
The word and figure `or 113` were omitted by section 48 of the Finance Act,2009(Act No.IX of
702
2009)(with effect from 1st July 2007).
Colon (:) was substituted for the full-stop at the end of sub-section (2) and thereafter new proviso was
703
added by section 48 of the Finance Act, 2009(Act No.IX of 2009)(with effect from 1st July 2007).
The words “Director General” were substituted for the words “Deputy Director General” by section
704
29 of the Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
705 Section 124A was inserted by section 61 of the Finance Act,2010(Act No.XXXIII of 2010).
Section 124AA was substituted by section 36 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
706
effect from 1st July 2017).
The words, figures and brackets “under sub-section (1) or (2) of section 83” were substituted for the
707
figure “83” by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর ২১ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 169
 The words and comma “or the tax paid by him under that section is less than eighty per cent of the
708 amount payable thereunder,” were omitted by section 54 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং
আইন) (with effect from 1st July 2015).
The comma words and brackets “, the Commissioner (Appeals)” were inserted by section 8 of অর্ থ
709
আইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words “he or it shall impose upon such person a penalty of ten percent” were substituted for the
710 words “he or it may impose upon such person a penalty of a sum not exceeding two and a half times the
amount” by section 32 of the Finance Act,2009(Act No.X of 2009)(with effect from 1st July 2008).
The words “fifteen per cent” were substituted for the words “ten percent” by section 45 of the Finance
711
Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The colon (:) was substituted for the full stop (.) and thereafter the proviso was added by section 6 of
712
অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
Proviso was substituted by section 32 of the Finance Act,2009(Act No.X of 2009)(with effect from 1st
713
July 2008).
The words “fifteen per cent” were substituted for the words “ten percent” by section 45 of the Finance
714
Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The words and comma “and includes a person appointed to be a Transfer Pricing Officer,” were
715 substituted for the words “and includes a person appointed to be` by section 15(c) of the Finance Act,
2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
Section 129A was inserted by section 46 of the Finance Act, 2014 (Act No. IV of 2014) (with effect from
716
1st July, 2014).
717 Clause (a) was substituted by section 54 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The new section 129B was inserted after the section 129A by section 55 of অর্ থআইন, ২০১৫ (২০১৫
718
সননর ১০ নং আইন) (with effect from 1st July 2015).
The words and figure “or Chapter XIA” were inserted after the words “under this Chapter” by
719
section 56 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The full stop (.) was substituted for the colon (:) and the proviso was omitted by section 6 of অর্ থ
720
আইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
721
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and figure “or any other income tax authority making an order imposing any penalty
under this Chapter or Chapter XIA” were substituted for the words “making an order imposing any
722
penalty under this Chapter” by section 57 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
effect from 1st July 2015).
Section 133A was inserted by section 37 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect
723
from 1st July 2017).
The words and commas “, delay interest, additional amount,” were inserted after the word “interest”
724
by section 55 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
725 Sub-section (1A) was inserted by section 74 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The words, numbers and comma “except an order passed under section 83A and section 83AA in
726 pursuance of this Ordinance,” were omitted by section 33 of the Finance Act,2009(Act No.X of
2009)(with effect from 1st July 2008).
Sub-sections (1B) and (1C) were inserted by section 59 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং
727
আইন)
The words “the Deputy Commissioner of Taxes shall” were substituted for the words “the Deputy
728 Commissioner of Taxes may in his discretion” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং
আইন)
The words, commas, figures and brackets “the Companies Act, 1913 (VII of 1913) or ক োম্পোনী
আইন, ১৯৯৪ (১৯৯৪ সননর ১৮ নং আইন)” were substituted for the words, comma, figures and
729
brackets “the Companies Act, 1913 (VII of 1913)” by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২
নং আইন)
Sub-section (2) was substituted by section 34 of the Finance Act,2009(Act No.X of 2009)(with effect
730
from 1st July 2008).
731 Section 142A was inserted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The words and commas “in whose territorial jurisdiction the office of the Deputy Commissioner of
732 Taxes is situate, or the assessee resides, or owns property or carries on business or profession,” were
omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 170
 The words, brackets and figures “in sub-section (1A) or (2)” were substituted for the words, brackets
733
and figure “in sub-section (2)” by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
734 Sub-section (1A) was inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “any money or goods” were substituted for the words “any money” by section 6 of অর্ থ
735
আইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “any money or goods” were substituted for the words “any money” by section 6 of অর্ থ
736
আইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words and commas “refund the amount, unless set off against tax or treated as payment of tax as
per provisions of section 152,” were substituted for the words and commas “except as otherwise
737
provided in this Ordinance, refund the amount” by section 6 of অর্ থআইন, ১৯৯৫(১৯৯৫ সননর ১২
নং আইন)
The words and comma “the assessee, within thirty days from the date on which the refund has become
738 due” were substituted for the words “the assessee” by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১
নং আইন)
The words “within sixty days” were substituted for the words “within thirty days” by section 4 of অর্ থ
739
আইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The words and figures “under sections 146 and 147” were substituted for the words and commas
740
“under this Chapter” by section 5 of অর্ থআইন, ১৯৯৭ (১৯৯৭ সননর ১৫ নং আইন)
The words “relevant assessment order or” were omitted by section 6 of অর্ থআইন, ১৯৯৫ (১৯৯৫
741
সননর ১২ নং আইন)
The words “claim for refund or refund becoming due consequent upon any order passed in appeal or
742 other proceeding under this Ordinance” were substituted for the words “claim for refund” by section 4
of অর্ থআইন, ১৯৯৬ (১৯৯৬ সননর ১৮ নং আইন)
The words “seven and a half per cent” were substituted for the words “ten per cent” by section 6 of
743
অর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
The words and commas “or treated, at the option in writing of that person, as payment of tax payable
744 under section 64 or section 74 thereof” were inserted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর
২১ নং আইন)
Clause (31A) was inserted by section 15(e) of the Finance Act, 2012 (Act No. XXVI of 2012) (with
745
effect from 1st July, 2012).
746 `CHAPTER XVIIIB` was added by section 49 of the Finance Act, 2011 (Act No. XII of 2011) .
The comma and word “, tribunal” were inserted after the words “concerned income tax authority ” by
747
section 58 of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
Sub-section (5A) was inserted by section 38 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
748
effect from 1st July 2017).
Section 152II was inserted by section 47 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
749
from 1st July, 2012).
750 Section 152J was substituted by section 56 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The word and comma “fees,” was inserted after the words “Facilitator and determine his” by section
751
48 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words “five working days” were substituted for the words “fifteen days” by section 49 of the
752
Finance Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
The words “two months” were substituted for the words “one month” by section 50 of the Finance
753
Act, 2012 (Act No. XXVI of 2012) (with effect from 1st July, 2012).
Explanation was inserted by section 39 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect
754
from 1st July 2017).
Sub-clause (a) was substituted by section 15(g) of the Finance Act, 2012 (Act No. XXVI of 2012) (with
755
effect from 1st July, 2012).
The words and commas “assessee, not being a company, aggrieved” were substituted for the words
756
“assessee aggrieved” by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and figure “an interest under Chapter VII” were substituted for the words and figures
757 “interest under section 73” by section 40 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect
from 1st July 2017).
clause (d) was omitted by section 59(a)(i) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
758
effect from 1st July 2015).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 171
 clause (e) was substituted by section 59(a)(ii) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with
759
effect from 1st July 2015).
Sub-sections (1A), (1B) and (1C) were inserted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং
760
আইন)
The words “any assessee aggrieved by any order” were inserted by section 7 of অর্ থআইন, ১৯৯৩
761
(১৯৯৩ সননর ১৮ নং আইন)
The words and figure “ or XIA” were inserted after the words and figure “Chapter XV” by section
762
59(b) of অর্ থআইন, ২০১৫ (২০১৫ সননর ১০ নং আইন) (with effect from 1st July 2015).
The words and figure “or section 137” were inserted by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সননর
763
২১ নং আইন)
764 Sub-section (3) was substituted by section 75 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The words “before filing that appeal” were omitted by section 59(c) of অর্ থআইন, ২০১৫ (২০১৫
765
সননর ১০ নং আইন) (with effect from 1st July 2015).
The colon (:) was substituted for the full-stop (.) and thereafter the proviso was inserted by section 57
766
of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Sub-section (4) was inserted by section 51 of the Finance Act, 2012 (Act No. XXVI of 2012) (with effect
767
from 1st July, 2012).
The words “two hundred taka” were substituted for the words “one hundred taka” by section 7 of
768
অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
769 Sub-section (1A) was inserted by section 58 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “the cases in which the appeal” were substituted for the words “that any appeal of any
770 assessee or any class of assessee” by section 41 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
effect from 1st July 2017).
The words “forty five days” were substituted for the words “sixty days” by section 25 of অর্ থআইন,
771
২০০৬ (২০০৬ সননর ২২ নং আইন)
The words commas and brackets “or the Commission (Appeals), as the case may be,” were inserted by
772
section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
773 Sub-clause (aa) was inserted by section 16(a) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
774
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
775
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
776
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
777
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
778
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
779 Clause (34) was substituted by section 16(b) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
780
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
781 The proviso was added by section 6 of the Finance Act, 1994 (Act No. XI of 1994)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
782
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
783
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
784
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
785
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words “within thirty days of the passing of such order” were inserted by section 6 of অর্ থআইন,
786
১৯৯৪ (১৯৯৪ সননর ১১ নং আইন)
The words “thirty days” were substituted for the words “fifteen days” by section 49 of the Finance
787
Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
788
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 172
 The words “one hundred and fifty days from the end of the month” were substituted for the words
789 “ninety days from the end of the month” by section 35 of the Finance Act,2009(Act No.XXXVI of
2009)(with effect from 1st July 2009).
The words “one hundred and fifty days from the end of the month” were substituted for the words
790 “ninety days from the end of the month” by section 35 of the Finance Act,2009(Act No.XXXVI of
2009)(with effect from 1st July 2009).
The words, brackets and commas “or the Commissioner (Appeals), as the case may be,” were inserted
791
by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
792 Clauses (b) and (c) were omitted by section 8 of অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
793 Sub-section (2) was substituted by section 39 of অর্ থআইন, ২০০৪ (২০০৪ সননর ১৬ নং আইন)
The words “ten percent” was substituted for the words “five percent” by section 50(a) of the Finance
794
Act, 2011 (Act No. XII of 2011) .
The colon (:) was substituted for the full-stop (.) and the proviso was added by section 50(b) of the
795
Finance Act, 2011 (Act No. XII of 2011) .
796 Sub-section (2A) was inserted by section 33 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
The words “with the prior approval of the Commissioner of Taxes” were substituted for the words
797 “with the prior approval of the Board” by section 35 of the Finance Act,2009(Act No.X of 2009)(with
effect from 1st July 2008).
798 Sub-section (4) was substituted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words, figures and brackets “sub-section (1) or sub-section (2A)” were substituted for the words,
799
figure and bracket “sub-section (1)” by section 33 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)
The words, figure and bracket “or sub-section (3)” were omitted by section 63 of অর্ থআইন, ২০০২
800
(২০০২ সননর ১৪ নং আইন)
The words, figure and bracket “and shall, except in the case of an appeal under sub-section (2A)” were
801
substituted for the words “and shall” by section 33 of অর্ থআইন, ২০০৩ (২০০৩ সননর ১৭ নং আইন)

The words, bracket, figure and comma “except in the case of an appeal under sub-section (3),” were
802
omitted for the words “and shall” by section 63 of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
The words “one thousand” were substituted for the words “five hundred” by section 50 of the Finance
803
Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
804 Sub-section (6) was added by section 59 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “the cases in which the appeal” were substituted for the words “that any appeal of any
805 assessee or any class of assessee” by section 42 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
effect from 1st July 2017).
The words “to the assessee and to the Commissioner within one hundred and twenty days from the
806 date of such order” were substituted for the words “to the assessee and to the Commissioner” by
section 5 of অর্ থআইন, ১৯৯৭ (১৯৯৭ সননর ৪০ নং আইন)
The words “thirty days” were substituted for the words “fifteen days” by section 51 of the Finance
807
Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
808 Sub-section (6) was inserted by section 7 of অর্ থআইন, ১৯৯১ (১৯৯১ সোনল্র ২১ নং আইন)
The words “six months” were substituted for the words “four months” by section 51 of the Finance
809
Act,2009(Act No.IX of 2009)(with effect from 1st July 2007).
The comma and words “, and where a case is heard by two members and an additional member is
appointed for hearing the case because of the difference of decision of the two members, the period
810 shall be eight months from the end of the month in which the appeal was filed” were inserted after the
words “appeal was filed” by section 43 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect
from 1st July 2017).
The words `six months` were substituted for the words `four months` by section 51 of the Finance
811
Ordinance, 2007 (Ord. No. 10 of 2007).
812 The proviso was added by section 6 of অর্ থআইন, ১৯৯৮ (১৯৯৮ সননর ১৪ নং আইন)
The colon (:) was substituted for the full stop (.) and thereafter the proviso was added by section 6 of
813
অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The colon (:) was substituted for the full stop (.) and thereafter the provisos were inserted by section 64
814
of অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 173
 The words “within ninety days” were substituted for the words “within sixty days” by section 6 of অর্ থ
815
আইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “two thousand taka” were substituted for the words “one hundred taka” by section 65 of
816
অর্ থআইন, ২০০২ (২০০২ সননর ১৪ নং আইন)
Colon(:) was substituted for the full-stop at the end and thereafter provisos were added by section 37
817
of the Finance Act,2009(Act No.XXXVI of 2009)(with effect from 1st July 2009).
818 Proviso was substituted by section 51 of the Finance Act, 2011 (Act No. XII of 2011).
The words “fifteen per cent” were substituted for the words “twenty five per cent” by section 30(a) of
819
the Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
The words “twenty five per cent” were substituted for the words “fifty per cent” by section 30(b) of
820
the Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
821
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The words and brackets “or the Commissioner (Appeals)” were inserted by section 8 of অর্ থআইন,
822
১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The comma, words and brackets “, the Commissioner (Appeals)” were inserted by section 8 of অর্ থ
823
আইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
The colon (:) was substituted for the full stop (.) and thereafter the proviso was added by section 5 of
824
অর্ থআইন, ১৯৯০ (১৯৯০ সননর ৪৫ নং আইন)
825 The provisos were omitted by section 6 of Aঅর্ থআইন, ১৯৯৫ (১৯৯৫ সননর ১২ নং আইন)
826 Clause (m) was substituted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The commas, words, figures and brackets “, মূল্্ সংন োজন র আইন, ১৯৯১ (১৯৯১ সননর ২২ নং
আইন) or মূল্্ সংন োজন র ও সম্পূর শুল্ক আইন, ২০১২ (২০১২ সননর ৪৭ নং আইন)” were
827 substituted for the words, comma, figures and brackets “or মূল্্ সংন োজন র আইন, ১৯৯১ (১৯৯১
সননর ২২ নং আইন)” by section 44 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect
from 1st July 2017).
828 The word “or” was omitted by section 6 of অর্ থআইন, ১৯৯৪ (১৯৯৪ সননর ১১ নং আইন)
829 Clause (pp) was inserted by section 60 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The semi-colon and the word “; or” were substituted for the full-stop (.) and thereafter sub-clause (r)
830
was added by section 6 of অর্ থআইন, ১৯৯৪ (১৯৯৪ সননর ১১ নং আইন)
The semi-colon “;” was substituted for the full-stop “.” and thereafter clause (s) was added by section
831
47 of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
832 The words “or collect” were inserted by section of অর্ থআইন, ১৯৮৯ (১৯৮৯ সননর ৩৬ নং আইন)
833 Clause (cc) was inserted by section 52 (a) of the Finance Act, 2011 (Act No. XII of 2011) .
The word “or” was omitted and thereafter the clauses (ee) and (eee) were inserted by section 31 of the
834
Finance Act, 2013 (Act No. XXV of 2013) (with effect from 1st July, 2013).
The words “or any subsidiary thereof” were inserted after the words “financial institution” by section
835
16(c)(i) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The words “but shall not be less than three months” were inserted by section 6 of অর্ থআইন, ১৯৯৯
836
(১৯৯৯ সননর ১৬ নং আইন)
The words “and which he either knows or believes to be false or does not believe to be true” were
837
omitted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The semi-colon (;) was substituted for the full stop and thereafter clause (c) was inserted by section 7
838
of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The semi-colon (;) was substituted for the full stop (.) and thereafter clause (d) was added by section 6
839
of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
840 Section 165A was inserted by section 62 of the Finance Act,2010(Act No.XXXIII of 2010).
The new section 165AA was inserted after the section 165A by section 60 of অর্ থআইন, ২০১৫ (২০১৫
841
সননর ১০ নং আইন) (with effect from 1st July 2015).
Section 165B was added after section 165A by section 53 of the Finance Act, 2011 (Act No. XII of 2011)
842
.
The new section 165C was inserted after the section 165B by section 61 of অর্ থআইন, ২০১৫ (২০১৫
843
সননর ১০ নং আইন) (with effect from 1st July 2015).
The words “but shall not be less than three months” were inserted by section 6 of অর্ থআইন, ১৯৯৯
844
(১৯৯৯ সননর ১৬ নং আইন)

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 174
 The words “The Board may” were substituted for the words “The Commissioner may” by section 36
845
of the Finance Act,2009(Act No.X of 2009)(with effect from 1st July 2008).
Sub-sections (1) and (1A) were substituted for the sub-section (1) by section 45 (a) of অর্ থআইন,
846
২০১৭ (২০১৭ সননর ১৪ নং আইন) (With effect from 1st July 2017).
Sub-section (4) was omitted by section 45(b) of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
847
effect from 1st July 2017).
The number “121A” was substituted for the number “121” by section 48 of the Finance Act, 2014 (Act
848
No. IV of 2014) (with effect from 1st July, 2014).
849 Section 173A was inserted by section 8 of অর্ থআইন, ১৯৮৭ (১৯৮৭ সননর ২৭ নং আইন)
850 Clause (c) was omitted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
The colon (:) was substituted for the full-stop (.) and thereafter the proviso was added by section 27 of
851
অর্ থআইন, ২০০৬ (২০০৬ সননর ২২ নং আইন)
The word “Board” was substituted for the word “Commissioner” by section 8 of অর্ থআইন, ১৯৯২
852
(১৯৯২ সননর ২১ নং আইন)
The colon (:) was substituted for the semi-colon (;) and thereafter the proviso was inserted by section 8
853
of অর্ থআইন, ১৯৮৮ (১৯৮৮ সননর ৩৩ নং আইন)
Second and third provisos were omitted by section 8 of অর্ থআইন, ১৯৯২ (১৯৯২ সননর ২১ নং
854
আইন)
855 The provisos were inserted by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
Sub-section (1) was substituted by section 52 of the Finance Act, 2012 (Act No. XXVI of 2012) (with
856
effect from 1st July, 2012).
857 The Explanation was added by section 7 of অর্ থআইন, ১৯৯৩ (১৯৯৩ সননর ১৮ নং আইন)
Sections 178A and 178B were inserted by section 46 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন)
858
(With effect from 1st July 2017).
The colon (:) was substituted for the semi-colon (;) and thereafter the proviso was inserted by section
859
16 (c) (ii) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
Section 184A was substituted by section 47 of অর্ থআইন, ২০১৭ (২০১৭ সননর ১৪ নং আইন) (With
860
effect from 1st July 2017).
Clauses (46) and (46A) were substituted by section 16 (d) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং
861
আইন).
862 Section 184AA was inserted by section 78 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
The words “twelve-digit Taxpayer’s Identification Number” were substituted for the words “tax-
863 payer’s identification number” by section 50(b) of the Finance Act, 2014 (Act No. IV of 2014) (with
effect from 1st July, 2014).
864 Section 184B was substituted by section 55 of the Finance Act, 2011 (Act No. XII of 2011) .
Sub-section (1) was substituted by section 51(a) of the Finance Act, 2014 (Act No. IV of 2014) (with
865
effect from 1st July, 2014).
The words “twelve-digit” were inserted after the words “thereafter issue a new” by section 51(b) of the
866
Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
Sub-section (3) was added by section 51(c) of the Finance Act, 2014 (Act No. IV of 2014) (with effect
867
from 1st July, 2014).
868 Section 184BB was inserted by section 67 of অর্ থআইন, ২০০১ (২০০১ সননর ৩০ নং আইন)
Section 184BBB was inserted by section 54 of the Finance Act,2009(Act No.IX of 2009)(with effect
869
from 1st July 2007).
Section 184BBBB was inserted by section 54 of the Finance Act, 2012 (Act No. XXVI of 2012) (with
870
effect from 1st July, 2012).
The words and comma “chief executive officer,” were inserted after the words and comma “managing
871
director,” by section 16 (e) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
872 Section 184C was inserted by section 6 of অর্ থআইন, ১৯৯৯ (১৯৯৯ সননর ১৬ নং আইন)
The words “twelve-digit” were inserted before the words “tax-payer’s identification number” by
873
section 52 of the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).
The word “assessed” was substituted for the words and commas “assessed, by the thirty first day of
874
December, every year” by section 79 of অর্ থআইন, ২০০০ (২০০০ সননর ১৫ নং আইন)
875 Clause (62A) was inserted by section 16 (f) of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
876 Section 184D was substituted by section 65 of the Finance Act,2010(Act No.XXXIII of 2010).
The comma and word “, collection” were substituted for the words “in collection” by section 53(b) of
877
the Finance Act, 2014 (Act No. IV of 2014) (with effect from 1st July, 2014).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 175
878 Section 184E was added by section 66 of the Finance Act,2010(Act No.XXXIII of 2010).
Section 184F was added after the section 184E by section 56 of the Finance Act, 2011 (Act No. XII of
879
2011).
The words and commas “the imposition and the collection of tax, the exemption of any income from
tax, the reduction of the rate of tax, the calling for any information for the purpose of taxation, and the
880
protection of information under this Ordinance” were substituted for the words “tax on income and
exemption of tax thereof” by section 62 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).
The colon (:) was substituted for the full stop (.) and thereafter the proviso was added by section 6 of
881
অর্ থআইন, ১৯৯৮ (১৯৯৮ সননর ১৪ নং আইন)
882 Section 185A was inserted by section 63 of অর্ থআইন, ২০১৬ (২০১৬ সননর ২৮ নং আইন).

UPDATED BY SAYEM [01711204544] CA.CC- ( I.T.P )

Page 176