Part V: Computation Of Income
Chapter I: Total Income
Section 67 (Special cases of Income from other sources.)
clause 1: Without prejudice to the provisions of section 66, the provisions of this Chapter shall apply to compute "Income from other sources" in special cases.
clause 2: 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. 1 Clause (c) was substituted by section 28(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.2 Clauses (d) and (e) were added after clause (c) by section 28(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
clause 3: Where in any income year, the assessee owns any asset or receives any loan or makes any expenditure or any such transaction affecting the assets of the assessee in such way where (A+B+C) is greater than (D+E+F), in that case the sum equal to (A+B+C) - (D+E+F) shall be deemed to be the income under the head Income from other sources of the assessee in the said income year, where A = accretion in net assets, B = actual expenditure incurred, C= other expenditure from the fund other than (A) and (B), D = assessed total income, E = assessed tax exempted income, and F = other acceptable receipts of funds other than D and E.
clause 4: Where the assessee purchases from a person any asset other than stock- in-trade or financial assets and the Deputy Commissioner of Taxes has reasonable grounds to believe that the price paid by the assessee is less than the fair market value, in that case the difference between the price paid and the fair market value shall be deemed to be income of the assesse thereof 1[in the relevant income year] and classified as Income from other sources.
clause 5: Any fee, commission, compensation or goodwill, called by whatever name, received by the assessee in any income year on account of cancellation or termination of any agreement or alteration or modification of any terms of the agreement shall be deemed to be Income from other sources of the assessee in the relevant income year.
clause 6: Any lump sum amount is received or receivable by an assessee during any income year on account of salami or premium receipts by virtue of any lease or rent, shall be deemed to be income under the head "Income from other sources" in the said income year.
clause 7: Any payment made by an assessee for acquiring any asset in any income year where tax has not been deducted or collected at source in accordance with Part VII of this Act, shall be deemed to be income under the head "Income from other sources" in the said income year.
clause 8: If any assessee receives any profit or benefit in any income year on waiver of loan liability, whether convertible to money or not, the monetary value of the said profit or benefit shall be treated as income of the assessee in that income year and shall be included as income under the head Income from other source: 1 The words in the relevant income year were inserted by section 29(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.Provided that the provisions of this sub-section shall not apply in the following cases, namely: (a) a loan or interest waived in respect of an assessee being an individual by any scheduled bank or any 1[finance company] registered under [Finance Company Act, 2023 (Act No.LIX of 2023); (b) profit or benefit not exceeding Taka 10 (ten lakh) resulting from the waiver of any margin loan or interest thereof by any registered merchant banker and portfolio manager or stock broker in light of Bangladesh Securities and Exchange Commission Act, 1993 or rules made thereunder, against investment in any securities traded in the stock exchange by any individual assessee.
clause 9: Any amount received by an assessee during any income year by way of winnings from lotteries, crossword puzzles, card games, online games or games of any such nature shall be included as income under the head "Income from other sources" in the said income year.
clause 10: Where a company, which is not listed on in the Stock Exchange, receives paid-up capital from its shareholder without bank transfer in any income year, the said paid-up capital shall be deemed to be income under the head Income from other sources in the said income year of the company: Provided that this provision shall not apply if any asset or service other than cash is received as paid-up capital in accordance with the Companies Act, 1994 (Act No. XVIII of 1994).
clause 11: Where an assessee, being a company, receives any amount as loan from any other person other than through banking channel, the amount so received shall be deemed to be the income under the head Income from other sources of that company for the income year in which the loan was received: Provided that where the loan or part thereof referred to in this sub-section is repaid in a subsequent income year, the amount to repaid shall be deducted in computing the income for that income year. 1 The words finance company were substituted for the word financial institution by section 14(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 The words, comma, figures and brackets Finance Company Act, 2023 (Act No.LIX of 2023 were substituted for the words, comma, figures and brackets Financial Institution Act, 1993 (Act No. XXVII of 1993) by section 14(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.
clause 12: Where an assessee, being a company, purchases directly or on hire one or more motor car or jeep and the value of any of such motor car or jeep exceeds 10% (ten percent) of its paid up capital together with reserve and accumulated profit, then 50% (fifty percent) of the difference between the value of the car or jeep and 10% (ten percent) of the paid up capital together with reserve and accumulated profit shall be deemed to be income under the head Income from other sources in the said income year of that company.
clause 13: Where an assessee, being an individual, receives any sum or aggregate of sums exceeding Taka 5 (five) lakh as an advance, loan, 1[***] or deposit of any kind from any other person otherwise by bank transfer, the amount so received shall be deemed to be the income of such assessee for that income year in which such advance, loan, 2[***] or deposit of any kind was received under the head Income from other sources: Provided that the provision of this sub-section shall not be applicable in the following cases, namely: (a) the amount so received from husband-wife, father-mother or children and is 3[shown in the returns of the giver and receiver]; (b) deposits received by bank, 4[finance company] or an organization registered with Micro Credit Regulatory Authority or NGO Affairs Bureau.
clause 14: 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 house property or part thereof and fails to pay the sum in respect of such purchase within 2 (two) years from the end of the income year in which the purchase was made, the said sum shall be deemed to be the income of the assessee for the income year immediately following the expiry of the said 2 (two) years under the head Income from other sources. 5[***] 1 The word gift was omitted by by section 29(b) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 2 The word gift was omitted by section 29(b)(i) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 3 The words shown in the returns of the giver and receiver were substituted for the words withdrawn from the bank account of the donor by section 29(b)(ii) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 4 The words finance company were substituted for the word financial institution by section 14(a) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024. 5 Sub-section 15 was omitted by section 29(c) of the Finance Act, 2024 (Act No. V of 2024) with effect from 1st July 2024.