Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 167 (Filing of statement of assets and liabilities.)
clause 1: Subject to the other provisions of this section, every 1[individual] assessee shall mandatorily file the statement of assets and liabilities, if such person (a) is an owner of total assets exceeds Taka 2[50 (fifty)] lakh as on the last date of the income year; or (b) owns a motor vehicle at any time during the income year; or (c) invests in house property or apartment in the relevant income year within the City Corporation area; or (d) owns any asset abroad at any time during the income year; or (e) is a shareholder director of a company:1 The word individual was inserted by section 57(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 The figure, brackets and word 50 (fifty) were substituted for the figure, brackets and word 40 (forty) by section 57(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.Provided that 1[***] all public servants shall mandatorily file the statement of assets and liabilities.
clause 2: Every resident Bangladeshi 2[individual] assessee shall file, in his return, statement of all assets and liabilities situated in Bangladesh and outside Bangladesh.
clause 3: Every non-resident Bangladeshi 3[individual] assessee shall file, in his return, statement of all assets and liabilities situated in Bangladesh.
clause 4: Every such foreign 4[individual] assessee who is not a Bangladeshi shall file, in his return, statement of all assets and liabilities situated in Bangladesh.
clause 5: Even if it is not mandatory for an 5[individual] assessee to file a statement of assets and liabilities sub-section
clause 1: , he may voluntarily file such statement of assets and liabilities.
clause 6: In the statement of assets and liabilities of an 6[individual] assessee, statement of assets and liabilities of the spouse or minor children of the concerned person shall also be filed if they do not have separate TIN.
clause 7: The Deputy Commissioner of Taxes, by notice in writing, may require any person to file a statement of assets and liabilities for any income year, if (a) the said person has not filed the statement of assets and liabilities in the relevant income year; or (b) the said statement of assets and liabilities appears to be mandatory for determining the tax liability of the that assessee for the relevant income year. 1 The words subject to compliance with the provisions of this sub-section were omitted by section 57(c) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 The word individual was inserted by section 57(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 3 The word individual was inserted by section 57(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 4 The word individual was inserted by section 57(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 5 The word individual was inserted by section 57(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 6 The word individual was inserted by section 57(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 10572