mahfuzmee-eng/income-tax-bd huggingface dataset:
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 135 (Collection of tax from transfer of securities.)
clause 1: The person responsible for transferring securities of any company or any fund listed in a stock exchange shall not transfer the securities unless tax is paid by the transferor in accordance with the following formula before the transfer is effected : A= (B-C) x 10%, where, A= amount of tax payable under this section; 1 Sub-section (c) was substituted by section 49 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 Section 135 was substituted by section 50 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. B= transfer value of the securities; C= acquisition value of the securities.
clause 2: For the purposes of this section, (a) securities means the securities of a company or fund held by a sponsor shareholder, director shareholder or placement shareholder of that company or fund; (b) transfer means all kind of transfers other than a gift between mother-father and children and between husband-wife; (c) transfer value means (i) the closing price of the securities on the day of consent or approval accorded by the Bangladesh Securities and Exchange Commission or Stock Exchange; or (ii) where the securities are not traded on the day of consent accorded by the Bangladesh Securities and Exchange Commission or Stock Exchange, the closing price of the securities on the day when such securities were last traded.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 136 (Collection of tax from transfer of share of shareholders of Stock Exchanges.)
clause 1: The Chief Executive of a Stock Exchange shall deduct tax at the rate of 15% (fifteen percent) on any profits and gains arising from the transfer of share of a shareholder of stock exchange established under Exchanges Demutualization Act, 2013 (Act No. XV of 2013) at the time of transfer or declaration of transfer or exchange of such share, whichever is earlier.
clause 2: For the purpose of the computation of profits and gains of share under sub-section
clause 1: , the cost of acquisition of such share incurred before Exchanges Demutualization Act, 2013 (Act No. XV of 2013) came into force shall be the cost of acquisition.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 138 (Collection of tax from motor vehicles operated commercially.)
clause 1: The person or authority responsible for the registration and fitness renewal of motor vehicles shall not register or allow fitness renewal unless a challan of advance tax at the rate given in the following table is furnished with the application, namely: Table Serial No. Type of vehicle Advance tax (in taka)
clause 3: 1. Bus having seats exceeding 52 seats 16 (Sixteen) thousand 2. Bus having seats not exceeding 52 seats 11 (eleven) thousand 500 (five hundred) 3. Air-conditioned Bus 37 (thirty seven) thousand 500 (five hundred) 4. Double decker Bus 16 (sixteen) thousand 5. Air conditioned (AC) Minibus/Coaster 16 (Sixteen) thousand 6. Non-AC Minibus/Coaster 6 (six) thousand 500 (five hundred) 7. Prime mover 24 (twenty four) thousand 8. Truck, Lorry or Tank Lorry having payload capacity exceeding 5 (five) tons 16 (sixteen) thousand 9. Truck, Lorry or Tank Lorry having payload capacity exceeding 1.5 (one point five) tons but not exceeding 5 (five) tons 9 (nine) thousand 500 (five hundred) 10. Truck, Lorry or Tank Lorry having payload capacity not exceeding 1.5 (one point five) tons 4 (four) thousand 11. Pickup van, human hauler, maxi or auto rickshaw 4 (four) thousand 12. Air-conditioned Taxicab 11 (eleven) thousand 500 (five hundred) 13. Non-AC Taxicab 4 (four) thousand.
clause 2: In case of registration or fitness renewal of a vehicle for more than one year, advance tax under sub-section
clause 1: shall be collected on or before 30th June in every subsequent year or years following the year of registration or fitness renewal of the vehicle.
clause 3: Where any person fails to pay advance tax in accordance with sub- section
clause 2: , the amount of advance tax payable shall be determined in accordance with A+ B formula, where A = the amount of advance tax not paid in the previous year or years; and B = the amount of advance tax payable under sub-section
clause 1: for the year in which an assessee is making the payment.
clause 4: Advance tax under sub-section
clause 1: shall not be collected if the motor vehicle is owned by the following persons or institutions, namely: (a) the Government and the local authority; (b) a project, programme or activity under the Government and the Local Government; (c) a foreign diplomat, a diplomatic mission in Bangladesh, offices of United Nations and its constituent organizations ; (d) a development partner of Bangladesh and its affiliated office or offices; (e) an educational institution under the Monthly Payment Order of the Government; (f) public universities; (g) gazetted war-wounded freedom fighters; or (h) any institution obtaining a certificate from the Board to the effect that no advance tax shall be paid.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 139 (Collection of tax from inland ships.)
clause 1: The person responsible under the Inland Shipping Ordinance, 1976 (Ordinance No. LXXII of 1976) shall not grant certificate of survey to any inland ship under section 9 or renew any certificate of survey under section 12 of the said Act unless a challan of advance tax computed at the rate mentioned in the following table is attached with the application for obtaining survey certificate or renewal of survey certificate: Table SL. No. Description of inland ships Advance tax (in Taka)
clause 3: 1. Inland ships engaged in carrying passengers in inland water Taka 125 (one hundred and twenty five) per passenger on the basis of the carrying capacity of passengers at daytime
clause 3: 2. Cargo, Container (multipurpose) and Coaster engaged in carrying goods in inland water Taka 170 (one hundred and seventy) per gross tonnage on the basis of carrying capacity of goods 3. Dump barge engaged in carrying goods in inland water Taka 125 (one hundred and twenty five) per gross tonnage on the basis of carrying capacity of goods.
clause 2: In case of granting a certificate of survey or renewing a certificate of survey for more than one year, advance tax under sub-section
clause 1: shall be collected on or before 30th June in every subsequent year or years following the year of issuance or renewal of such certificate.
clause 3: Where any person fails to pay advance tax in accordance with sub- section
clause 2: , the amount of advance tax payable shall be determined in accordance with A+ B formula, where A = the amount of advance tax not paid in the previous year or years, and B = the amount of advance tax payable under sub-section
clause 1: for the year in which an assessee is making the payment.
clause 4: For the purpose of this section, inland ship and inland water shall respectively mean the inland ship and inland water as defined in the Inland Shipping Ordinance, 1976 (Ordinance No. LXXII of 1976). CHAPTER IV GENERAL MATTERS
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 140 (Definition.)
clause 1: person responsible for payment means (i) in respect of any payment deemed to be income under the head "Income from employment", the employer himself, or where any local authority, company or institution is the employer, such authority, company or institution and shall also include the Principal Officer thereof; (ii) in the case of any payment under the heading "Income from Financial Assets", any agency, company or other institution issuing the said financial asset or the Principal Officer of such agency, company or institution; and (iii) in respect of any other payment treated as taxable income under this Act, or any other payment to which deduction or collection of tax at source is applicable under this Part, the payer himself or, where the payer is a company or other body, shall also include the Principal Officer thereof;
clause 2: contract includes a sub- contract, sub-sub-contract, subsequent contract, agreement or arrangement, called by whatever name;
clause 3: specified person means (a) any company, firm, association of persons, any trust or fund; (b) public-private partnership; (c) any foreign contractor, foreign enterprise or any association or organization established outside Bangladesh; (d) any hospital, clinic or diagnostic center; (e) any e-commerce platform with a turnover of more than Taka 1 (one) crore per annum, other than any other specified person, by whatever name called; (f) any hotel, 1[resort, motel, restaurant, convention center,] community center, transport agency with a turnover of more than Taka 1 (one) crore per annum; (g) a person other than a farmer engaged in production and supply of tobacco leaf, cigarette, bidi, jorda, gul and other tobacco products;
clause 4: payment includes transfer, credit, adjustment of payment or any payment order or instructions;
clause 5: base value means any of the following 3 (three) items whichever is higher, (i) contract value; (ii) amount in the bill or invoice; or (iii) payment. 1 The words and commas resort, motel, restaurant, convention center were inserted by section 51 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 141 (Deduction or collection tax on grossed-up amount without tax.)
clause 1: Where the person responsible for making the payment makes any payment exclusive of tax, tax shall be deducted at the applicable rate on the amount computed in the following manner, namely: C = (100 A)/(100-B), Where C = amount computed for the purpose of deduction, A = amount of payment without tax, B = applicable tax rate.
clause 2: Where, the recipient, getting the payment without tax, (a) is required to furnish proof of submission of return but fails to do so; or (b) fails to receive payment through bank transfer, in such cases, 'B' referred to in sub-section
clause 1: shall be determined in accordance with the provisions of this Chapter.
clause 3: For the purposes of this section, payment without tax means any payment made by the payer to the payee on which no tax has been deducted or collected at source under any contract or arrangement.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 142 (General provisions for deduction or collection of tax at source.)
clause 1: Subject to the exception of section 119, and unless otherwise provided in other sections of this Chapter, in the case of deduction or collection of tax 1[under this Part], if the person from whom the tax is to be deducted or collected fails to produce evidence of filing the return, the tax deducted at source or the rate of collection shall be 50% (fifty percent) more than the applicable rate.
clause 2: Subject to any provision to the contrary, in the case of the deduction or collection of tax under this Part, the person from whom the tax is to be deducted or collected does not receive payment for contract price, bill, rent, fee, charge, remuneration, salary or any other sum, by whatever name it may be called, through bank transfer, the rate of tax deducted at source shall be 50% (fifty percent) higher than the applicable rate. 1 The words under this Part was substituted for the words under this Chapter by section 14(d) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 144 (Consequences of the issuance of certificate of tax deduction, collection or payment without actual deduction, collection or payment.)
clause 1: Where a person issues a certificate of deduction, collection or payment of tax at source without actual deduction, collection or payment to the credit of the Government, the person shall without prejudice to any other consequences to which he may be liable, be personally liable to pay the amount not being deducted, collected or paid to the credit of the Government.
clause 2: The Deputy Commissioner of Taxes shall take necessary action for the collection of amount mentioned in sub-section
clause 1: from the person personally liable after giving the person a reasonable opportunity of being heard.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 145 (Certificate of deduction, etc. of tax.)
clause 1: Every person who has deducted or collected any tax under the provisions of this Part shall, to the person from whom such deduction or collection has been made, furnish a certificate of tax deduction or collection specifying therein (a) the name and the Taxpayers Identification Number (TIN), if any, of the person from whom tax has been deducted or collected; (b) the amount of deduction or collection of taxes; (c) the 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.
clause 2: The Board may, by notification in the official Gazette, specify the following matters, namely (a) 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 medium; (b) the process in which such electronic, machine readable or computer readable certificate shall be generated or issued.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 146 (Deposit of tax deducted in favour of the Government.)
clause 1: All sums deducted or collected under the provisions of this Part shall be deposited to the Government by the person making the deduction or collection within the prescribed time or in accordance with the directions given by the Board.
clause 2: Except the provisions as provided in this Act, no person shall, directly or indirectly, levy, withhold, deduct or collect any money as tax, and any money so levied, withheld, deducted or collected shall be deposited in accordance with this section.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 147 (Confirmation and verification of deduction or collection of tax at source.)
clause 1: Any authority empowered in writing by the Commissioner of Taxes or the Director General (Inspection) or the Director General (Central Intelligence Cell) for the purpose of verifying the deduction or collection of tax at source or for the purpose of enforcing the provisions of this Part may (a) (i) have full and uninterrupted access to the premises, places, goods, accounts and records of economic activities of any person or institution maintained in any form or manner; (ii) have access to any information, code or technology capable of unscrambling or retransforming any encrypted data stored or available in a computer into a readable and understandable format or text of any person or institution; (iii) extract data, images or any other input stored in electronic records or systems of any person or institution; (iv) enter the system of any person or institution by breaking the password; (v) copy or analyze any information, statements, documents, images or input of any person or institution; (vi) affix identification marks or stamps on accounts and other documents of any person or institution, and take copies or extracts thereof; (vii) seize and retain in their possession any accounts, documents, electronic records and systems of any person or institution; (viii) direct any person to perform or refrain from doing any act; (b) take with them such experts, valuers or forces as he reasonably thinks fit.
clause 2: If any authority empowered under this section enters the premises or place of any person or faces any obstacle, hindrance or non-cooperation after expressing the intention to enter, then the said authority may impose upon such person a penalty of a sum not exceeding Taka 50 (fifty) lakh.
clause 3: If any person is found to be in default in respect of compliance of this section or the provisions of this Part of this Act, the Deputy Commissioner of Taxes shall, after recording explanation of the person, or where no explanation is found, proceed ex parte to recover the amount of taxes along with penalties by making an assessment thereof. 10558
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 150 (Grant of Credit of tax deducted or collected at source.)
clause 1: Any deduction or collection of tax, made in accordance with the provisions of this Part and paid to the account of the Government, shall be treated as a payment of tax on income of the person from whom tax has been deducted or collected.
clause 2: If income tax is paid under sub-section
clause 1: , credit shall be given to such person in determining the tax liability of the person in the income year in which the tax is deducted or collected.
clause 3: Where tax is paid at source by a person on behalf of another person, the credit referred to in sub-section
clause 2: shall be given in determining the tax liability of that other person.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 152 (Collection of advance tax from cigarette manufacturers.)
clause 1: Cigarette manufacturers shall pay advance tax at the rate of three percent (3%) of the net sales price every month.
clause 2: The advance tax paid under sub-section
clause 1: shall be adjusted against the quarterly instalments of advance tax payable under section 155.
clause 3: In this section, "net sales" shall mean A-B, where A = the gross sale; and B = the value added tax and supplementary duty, if any, on the said gross sale.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 154 (Advance tax payment.)
clause 1: Subject to the provisions of this Part, except as provided in sub-section
clause 2: , tax shall be payable by an assessee on his income during each financial year if the total income of the assesse for the latest income year exceeds Taka 6 (six) lakh and in such case, the payment shall be treated as advance tax.
clause 2: Nothing in sub-section
clause 1: shall apply to an assessee, if (a) the assesse earns an amount not exceeding Taka 8 (eight) lakh only from cultivation of land; (b) the total income referred to in sub-section
clause 1: includes the following income, namely: (i) capital gains; or (ii) any income in the nature of one-time income which is not expected to be earned in the current financial year in which advance tax is payable under this Part. 1 The words and commas any orphanage, religious place of worship and were inserted by section 52(c) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 10562
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 155 (Amount of advance tax and time of payment thereof.)
clause 1: Subject to the provisions of sub-section
clause 3: and without prejudice to the provisions of section 154, the minimum advance tax payable by an assessee in any current financial year shall be equal to A-B, where A = tax payable on the total income of the assessee in the last income year computed at the rate applicable in that financial year; B = amount of tax deducted or collected at source under this Part or advance tax paid under Part 7.
clause 2: The minimum tax payable as advance tax shall be payable in 4 (four) equal instalments as follows, namely: Date of Financial Year Amount to be paid
clause 2: 15 September 25% (twenty five percent) 15 December 25% (twenty five percent) 15 March 25% (twenty five percent) 15 June 25% (twenty five percent).
clause 3: If the date mentioned in sub-section
clause 2: falls on a public holiday, the instalment concerned shall be paid on the next working day following such holiday.
clause 4: In this case, if an assessee fails to pay any instalment or part thereof, without prejudice to any liability of the assessee under this Act, the unpaid instalment or part thereof shall be compounded with the next instalment and payable.
clause 5: Where an assessee estimates that the instalment of advance tax is likely to be less than the tax computed under sub-sections
clause 1: and
clause 2: , he shall submit an estimate to the Deputy Commissioner of Taxes and pay such instalments subject to any necessary adjustments to any instalments already paid according to the estimate.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 156 (Advance payment of tax by new assessee.)
clause 2: of section 154, of the period which would be the income year for the immediately following assessment year is likely to exceed Taka six
clause 6: lakh, submit to the Deputy Commissioner of Taxes an estimate of his total income and advance tax payable by him computed in the manner laid down in sub-section
clause 1: of section 142 and shall pay such amount on such dates specified in sub-section
clause 2: of section 155 as have not expired by installment dates which may be revised according to sub-section
clause 5: of section 155.
Part 6: Exemption, Deduction And Tax Holiday
Chapter I: Exemption, Reduction And Deduction
Section 161 (Interest payable by Government on excess payment of advance tax.)
clause 1: The Government shall pay simple interest at 10% (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.
clause 2: The period for which interest under sub-section
clause 1: shall be payable shall be the period from the first day of the concerned income year to the date of regular assessment in respect of the income of that year or a period of two 2 (years) from the first day of concerned assessment year, whichever is shorter. 10564
Part 8: Minimum Tax
Section 162 (Interest payable by the assessee on deficiency in payment of advance tax.)
clause 1: Where in any financial year advance tax paid by an assessee on the basis of own estimation together with the tax deducted or collected at source, if any, under this Part is 1[less than] 75% (seventy-five percent) of the amount of tax payable by him as determined on regular assessment, the assessee shall pay simple interest at the rate of 10% (ten percent) per annum on the amount of difference between 1[the total tax so paid and] 75% (seventy five percent) of 1[the tax determined on regular assessment]: Provided that the rate of interest shall be 50% (fifty percent) higher if the return is not filed on or before the Tax Day.
clause 2: The period for which the interest under sub-section
clause 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 2 (two) years from the said 1st (first) day of July, whichever is shorter.
clause 3: Notwithstanding anything contained in sub-sections
clause 1: and
clause 2: , where (a) tax is paid under section 173; or (b) provisional assessment has been made under section 185 but regular assessment has not been made, in such case, the simple interest shall be computed in accordance with the following provisions, namely: (i) up to the date on which tax under section 173 or as provisionally assessed, was paid; (ii) thereafter, such simple interest shall be computed on the amount by which the tax so paid falls short of the said 75% (seventy-five percent) of the assessed tax.
clause 4: Where, as a result of appeal, revision or reference, the amount on which interest was payable under sub-section
clause 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 refundable tax.
clause 5: For purposes of this section, regular assessment includes the acceptance of revised return or the assessment made as a result of the audit under section 2[182]. 1 The words and commas less than . the total tax so paid and . the tax determined on regular assessment were substituted for words and commas less than . the amount of tax payable by him as determined on regular assessment by section 53(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 The figure 182 was substituted by section 53(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 165 (Return.)
clause 1: The Board may determine such returns for assessees on a class basis and as it thinks fit.
clause 2: Return of an 1[individual] assesse shall contain a statement of all types of income of the assessee, a statement of all types of assets and liabilities located in Bangladesh and outside Bangladesh and, as the case may be, a statement of all types of expenses related to living.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 166 (Submission of Return.)
clause 1: Every person shall file a return of income of the income year to the Deputy Commissioner of Taxes, if (a) the total income of the person during the income year exceeds the maximum amount that is not chargeable to tax under this Act; (b) such person was assessed to tax for any one of the 3 (three) years immediately preceding that income year; (c) such person is a company, a shareholder director or a shareholder employee of a company, a firm, a partner of a firm, a private association, an employee holding the position of executive or management position in a business, a public servant or a non- resident having a permanent establishment in Bangladesh; (d) the person, not being an institution established solely for charitable purpose, has an income during the income year which is subject to tax exemption or lower tax rate under Chapter I of Part 6; (e) any person registered as an assessee under section 261; or (f) such person is required to furnish proof of submission of return under section 264.
clause 2: Filing of returns shall not be mandatory in the following cases, namely: (a) an educational institution (i) which is a primary or pre-primary school or government secondary or higher secondary school teaching in Bengali, or which is a Monthly Payment Order (MPO) educational institution; and (ii) that does not have English version curriculum; 1 The word individual was inserted by section 56 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. (b) Public University; (c) Bangladesh Bank; (d) local authorities; (e) statutory government authorities or autonomous bodies, having no income other than funds received from government and interest income; (f) any entity established or constituted by or under any law for the time being in force having no income other than funds received from the government; (g) government provident fund and government pension fund; (h) a non-resident individual having no fixed base in Bangladesh; or (i) class of persons which the Board may, by notification in the official gazette, exempt from filing the return.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 168 (Furnishing of statement of expenses relating to life style.)
clause 1: Every 1[individual] assessee shall mandatorily furnish a statement of expense relating to life style in the return, if (a) the income of the said person in the relevant income year exceeds 5 (five) lakh Taka; (b) the person acquires ownership of any motor vehicle at any time during the relevant income year; (c) the person derives any income from the business; (d) the person being a shareholder director of any company; or (e) the person invests in house property or apartment within a City Corporation area during the relevant income year.
clause 2: The Deputy Commissioner of Taxes, by notice in writing, may require any person to file a statement of life style expense for any income year, if (a) such person has not filed such statement of expenses in the relevant income year; or (b) such statement of expense appears to be necessary for determining the tax liability of the assessee for the relevant income year.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 169 (General provisions for filing return.)
clause 1: Return shall be 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 by the Board.
clause 2: The following documents shall be attached with the return of the company or any person deriving income from execution of long-term contracts, namely: (a) audited financial statements; (b) evidence of compliance with criteria prescribed, from time to time, by the Board for verification; and (c) a separate computation sheet explaining the difference between the profit and loss shown in the financial statement and the income shown in the return. 1 The word individual was inserted by section 58(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
clause 3: In the case of any such entity having international transactions in any income year, a statement of international transactions is required to be submitted with income tax return under section 238.
clause 4: Any non-resident Bangladeshi may submit the return with evidence of payment of tax on the basis of his return to the nearest Bangladesh Mission and the Mission shall issue an acknowledgment of receipt of the return with its official seal and forward the return to the Board.
clause 5: The return should be signed and verified by the following persons, (a) in the case of an 1[individual] assesse, by the individual himself; where he is absent from Bangladesh, by the individual concerned or by some person duly authorized by him in this behalf; and when the assessee is mentally incapacitated from attending to his affairs, by his guardian or by any other person competent to act on his behalf; (b) 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; (c) in the case of a company or a local authority, by the principal officer thereof; (d) in the case of a firm, by any partner thereof, not being a minor; (e) in the case of any other association, by any member of the association or the principal officer thereof; and (f) in the case of any other person, by that person or by any person competent to act on his behalf.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 170 (Filing of return under self-assessment procedure.)
clause 1: All persons legally required to file return under section 166 shall file a return under self-assessment procedure under section 180.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 171 (Time for filing return and payment of income-tax.)
clause 1: Every assessee shall file return on or before the tax day. 1 The word individual was inserted by section 59 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 Section 170 was substituted by section 60 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 3 Section 171 was substituted by section 61 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
clause 2: In case of filing of return on or before the tax day, the return shall be filed after payment of income-tax according to section 173.
clause 3: In case of filing of return after the tax day, the return shall be filed after payment of income-tax according to section 174.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 172 (Notice of filing return.)
clause 1: The Deputy Commissioner of Taxes may, at any time after expiry of the date specified in section 171, by a notice in writing, require a person to file a return of his income, if (a) such person is required to file his return under section 166; or (b) the total income of such person is chargeable to tax in the relevant income year.
clause 2: The return under sub-section
clause 1: shall be filed within such period, not being less than 21 (twenty-one) days, as may be specified in the notice or within such extended period as the Deputy Commissioner of Taxes may allow.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 173 (Regarding payment of income tax and surcharge on or before the date of filing of return.)
clause 1: Every person who is required to file a return under section 166, 172, 175, 191, 193 or 212 shall pay the tax payable on or before the date of filing of the return.
clause 2: The tax payable shall be computed as per the formula A-B, where A= tax payable by the assessee on the basis of the return or under the provisions of sub-section
clause 5: of section 163, whichever is higher; B= tax paid at source or advance tax in accordance with the provisions of Part 7.
clause 3: The amount paid under sub-section
clause 1: shall be deemed to have been paid as tax payable by the assessee after regular assessment.
clause 4: If any person, without reasonable cause, fails to pay the tax payable under sub-section
clause 1: , he shall be deemed to be an assessee-in-default.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 175 (Special provisions relating to normal return and revised return.)
clause 1: Save as the provisions of sections 182 and 212, the following returns shall be considered as normal returns, namely: (a) revised return filed under sub-section
clause 10: of section 182; (b) return filed in respect of issuance of notice under sub-section
clause 3: of section 212.
clause 2: Where revised return is filed within the tax day under any provision of this Act, tax shall be paid according to section 173.
clause 3: Where revised return is filed after the tax day under any provision of this Act, no tax exemption, which was not claimed in the original return, shall be claimed in the revised return, and new tax exemption, if claimed, shall be cancelled and assessed at regular rate.
clause 4: No return or revised return shall be filed at the time of assessment on the basis of appeal or tribunal order: Provided that, where no return has been filed by the assessee, return may be filed, in applicable case, at the time of assessment on the basis of appeal or order of the Tribunal.] 1 Section 175 was substituted by section 63 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 176 (Consequences of filing incomplete return.)
clause 1: In case of filing of any return or revised return, if the provisions of section 169 or any direction issued by the Board is not followed, the said return or revised return shall be considered as incomplete.
clause 2: If the return or revised return is considered to be incomplete, the Deputy Commissioner of Taxes shall, with the reasons specified, send a notice to the assessee to submit the relevant information, verification, statement or document within the time specified in the notice. 1[
clause 3: If an assesse fails to fully comply with the notice issued under sub- section
clause 2: , the return or revised return, which was treated to be incomplete, (a) shall be deemed to be void or invalid as if it had not been filed for failure to comply the provisions of sub-sections
clause 2: and
clause 5: of section 169 and in case of such void or invalid return, the Deputy Commissioner of Taxes shall take the following measures, namely: (i) issue a notice to the assessee regarding the filed return being considered as void or invalid; (ii) inform the Inspecting Additional Commissioner of Taxes in writing regarding the void or invalid return; (b) in other cases, may be selected for audit under section 182.]
clause 4: The return or revised return shall be deemed to have been completed on the date of filing if an assessee has fully executed the contents of the notice given under sub-section
clause 2: .
clause 5: A return shall not be deemed as complete return merely by reason of obtaining acknowledgment of receipt.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 177 (Return of Withholding tax.)
clause 1: The following persons shall file a return of tax deducted or collected at source under the provisions of Part 7 in such form as may be prescribed by the Board: (a) companies other than local authorities, autonomous bodies, any authority of the Government, primary or pre-primary schools teaching Bengali language, government secondary or higher secondary schools, or any educational institution under Monthly Payment Order (MPO); (b) firm; (c) association of persons; 1Sub-section
clause 3: was substituted by section 64 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.(d) private hospital; (e) clinic; (f) diagnostic centers.
clause 2: Return under sub-section
clause 1: (a) shall be filed with the Deputy Commissioner of Taxes under whose jurisdiction the assesse belongs to; (b) shall be submitted along with the relevant particulars and information in the prescribed form and accompanying schedules, statements, accounts, appendices or documents; (c) shall be signed and verified in the manner described in sub-section
clause 5: of section 169.
clause 3: The return under sub-section
clause 1: shall be filed within the following time, namely: (a) the applicable return for the preceding month shall be filed by the 1[25th (twenty fifteenth) of every month; and (b) in cases where the 2[25th (twenty fifteenth) of any month is a weekly or public holiday, on the following working day3[.]4[***]
clause 5: The Board may, by notification in the official Gazette, may specify the form and the manner in which such electronic, machine readable or computer readable returns shall be filed.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 178 (Concurrent jurisdiction.)
clause 4: was omitted by section 65(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 10578 CHAPTER II PRODUCING INFORMATION FOR THE PURPOSE OF TAX ASSESSMENT
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 179 (Production of accounts and documents, etc.)
clause 1: The Deputy Commissioner of Taxes may, by notice in writing, require an assessee, who has filed a return under sections 166, 175 1[, 176 or 212] 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 Act.
clause 2: The Deputy Commissioner of Taxes may issue notice requiring any records, books, accounts, statements, documents, information or electronic records or any part thereof to be produced in electronic form or by electronic media.
clause 3: The accounts, statements, documents, information or electronic records shall be produced on or before the date as may be specified in the notice.
clause 4: For the purpose of this section, (a) return includes a revised return; (b) information includes data as defined in clause
clause 10: of section 2 of Information and Communication Technology Act, 2006 (Act No. XXXII of 2006); (c) electronic record and electronic form shall have the same meaning as assigned to electronic record and electronic form respectively in clauses
clause 5: and
clause 7: of section 2 of Information and Communication Technology Act, 2006 (Act No. XXXII of 2006). PART 10 ASSESSMENT OF TAX AND AUDIT
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 180 (Self-assessment.)
clause 1: If a self-assessment return is filed by a person for any assessment year under this section, his income, tax and other liability under this Act shall be deemed to have automatically completed if the return 1 The comma, figures and word , 176 or 212 were substituted for the word and figure or 176 by section 66 of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.(a) is filed in compliance with all the provisions mentioned in 169; and (b) is filed with payment of tax subject to all provisions mentioned in section 173 and section 1741[.] 2[***]
clause 2: After filing the return under sub-section
clause 1: if the assessee finds that in the return filed by him (a) income shown; or (b) claimed tax exemption or credit; or (c) for any other reason, the tax payable under this Act has not been correctly computed or the correct amount has not been paid, he may file an revised return stating the reasons in a written statement3[.] 4[***]
clause 3: No revised return shall be filed under sub-section
clause 2: in the following cases (a) after the expiry of 180 (one hundred and eighty) days from the date of filing the return under sub-section
clause 1: ; or (b) after filing the revised return for the first time; or (c) after the original return is selected for audit under section 182.
clause 4: In the return filed under sub-section
clause 1: , no question shall be raised as to the source of the initial capital of the business of a new individual assessee, if the assessee (a) shows income from sources which are not exempted from tax and income shown exceeds the tax free limit; (b) shows amount of income not less than 20% (twenty percent) of the initial capital; 1 The full-stop . of clause (b) was substituted for colon : by section 67(a)(i) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 The proviso was omitted by section 67(a)(ii) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 3 The full-stop . in end was substituted for colon : by section 67(b)(i) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 4 The proviso was omitted by section 67(b)(ii) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.(c) pays the amount of tax computed under regular tax rate and other applicable sums on or before filing the return; (d) submits evidence relating to the existence of the business; (e) filed within the relevant tax day of the relevant tax year; and (f) states in writing that the return filed is not an arrear return. 1[***]
clause 6: For the purposes of this section, (a) regular tax rate means the rate of tax which is not exempted or reduced; (b) arrear return means a return which has not been filed within the assessment year to which the income year relates.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 184 (Best judgement Assessment.)
clause 1: Subject to the other provisions of this section, the Deputy Commissioner of taxes may determine the best judgement tax of an assesseein the following cases, namely: (a) where a person has failed to comply with the notice given under section 172 and has not filed any return or revised return under section 175; and (b) where any person has failed to comply with a notice given under section 172, 175, sub-sections
clause 3: and
clause 5: of section 183, section 193 or 212.
clause 2: After considering the facts and matters and after properly evaluating the legal and factual aspects of the case, the best judgement tax shall be determined.
clause 3: The tax assessment order passed under this section shall reflect the best judgement assessment of tax by the Deputy Commissioner of Taxes.
clause 4: The Deputy Commissioner of Taxes shall pass the best judgement assessment order in writing or by certain electronic means and shall notify the same to the assessee within 30 (thirty) days from the date of passing such order.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 185 (Provisional Assessment.)
clause 1: The Deputy Commissioner of Taxes may assess provisional tax on the total income of the assessee in any income year.
clause 2: Provisional assessment shall be made at the following times, namely: (a) where the return has been filed at any time during the relevant tax year; and (b) where the return for the relevant tax year is not filed on the tax day or on any day preceding the tax day.
clause 3: The provisional assessment shall be prepared on the basis of the following matters, namely: (a) in the case referred to in clause (a) of sub-section
clause 2: , on the basis of the return and the accounts and documents, if any, therewith; (b) in the case referred to in clause (b) of sub-section
clause 2: , on any readily available information or material and in the best judgment of the Deputy Commissioner of Taxes.
clause 4: In making a provisional assessment under this section, the Deputy Commissioner of Taxes may take the following proceedings, namely: (a) rectification of any arithmetical errors in the return, accounts and documents; (b) adjustment and carry forward of any loss or carry forward of depreciation allowance under sections 70 and 71 on the basis of information obtained from returns, accounts and documents.
clause 5: 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.
clause 6: In computing the tax payable under this section the following amounts shall be credited, namely: (a) any tax deducted or collected at source and paid to the Government; and (b) any advance tax paid.
clause 7: 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.
clause 8: Acts or aggravations or damages arising out of the assessment of any temporary tax under this section shall not override the measures taken for the settlement of any problem arising in the regular assessment thereof.
clause 9: There shall be no right of appeal against a provisional assessment under this section.
Part 9: Return, Statement And Records
Chapter I: Return And Statement
Section 186 (Audit of the return of withholding tax.)
clause 1: The Deputy Commissioner of Taxes, with the approval of the Commissioner, shall select a number of returns of withholding tax filed under section 177 for audit.
clause 2: The Deputy Commissioner of Taxes shall conduct the audit of the selected return in respect of the following matters, namely: (a) whether the tax has been deducted or collected at the rate, in the amount and in the manner as provided in Part 7 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 Act.
clause 3: Where an audit under sub-section
clause 2: results in findings that the provisions of this Act in respect of the matters mentioned in the said sub-section have not been complied with, the Deputy Commissioner of Taxes conducting the audit may take necessary actions under this Act, including the actions under sections 143, 144 and 266.
clause 4: For the purpose of selecting returns for audit under sub-section
clause 1: and for conducting the audit, the Board shall formulate such comprehensive audit guidelines as it may think fit.
clause 5: No return shall be selected for audit after the expiry of 4 (four) years from the end of the year in which the return was filed.