Largest and fastest growing business Portals
48. Deduction at source and advance payment of tax.-
(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.
49. Income subject to deduction at source.-
(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";
1[(aa) income from discount on the real value of Bangladesh Bank bills;
(b) income classifiable under the head "Interest on securities" ;
2[(bb) income derived from fixed deposits in banks]
(c) income derived on account of supply of goods, execution of contracts or services rendered ;
3[(d) income derived by the importers and exporters on account of import and export 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);
.....................................................................
1 Ins. by F.A. 2001
2 Ins. by F.O. 1985 subsequently omitted by Ordinance No. XXXVI of 1985, dated 20/07/1985 w. e. f 01/07/1985
3 Subs. by F.A. 2012
(g) any income chargeable under this Ordinance which is paid or payable to a non-resident;
1[(h) income classifiable under the head "Income from house property" ;
(i) income derived on account of export of manpower ;
2[(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 ;
3[(l) income derived on account of travel agency commission; and]
(m) income derived on account of shipping agency commission; 4[and];]
5[(n) income derived from commission, discount or fees payable to distributors for distribution or marketing of manufactured goods;]
6[(o) income derived on account of interest on saving deposits, fixed deposits or term deposits and share of profit on term deposits;
7[(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";]
8[(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;
...................................................................................................................................
1 Clause (h), (i), (j), (k), (l) and (m) ins. by F.A. 1988
2 Ins. by F.A. 2014
3 Omitted by F.A. 1993
4 Omitted by F.A. 1999
5 Clause (n) ins. by F.A. 1989 with the word "and" added after clause (m), and subs. by F.A. 2001
6 Clause (o), (p) and (q) ins. by F.A. 1991. of which clause (o) & (p) made applicable from the asstt. year 1990-91
7 Added F. A. 2016
8 Clause (r), (s), (t), (u), (v), (w), (x), (y) and (z) ins. by F.A. 1999
(t) income derived from compensation against acquisition of property;
(u) income derived on account of interest on savings instruments;
1[(v) income derived on account of bonus or bonus shares issued by acompany registered under the Companies Act,1913 (VII of 1913) or কোম্পানী আইন,1994 (1994সনের ১৮ নং আইন);
(w) income derived on account of running of brick field;
(x) income derived on account of services rendered by the doctors
2[(y) income derived on account of real estate business;and]
(z) income derived on account of commission of letter of credit;
3[(za) income derived on account of survey by a surveyor of general insurance company;
4[(zb) income derived on account of tcommission received by travel agency from airline;and]
(zc) income derived on account of commission, remuneration or charges as a foreign buyer's agent;]
5[(zd) income from dividends.]
6[(ze) income derived on account of rendering certain services ;7[;
8[(zf) income derived on account of shipping business carried on both inside and outside Bangladesh by a resident assessee.
(zg) income derived on account of business of real estate and land developer;
....................................................................
1 Omitted by F.A. 2001
2 Omitted by F.A. 2000
3 Ins. clause (za), (zb) and (zc) by F.A. 2000
4 Omitted by F.A. 2001
5 Ins. by F.A. 2001
6 Ins. by F.A. 2002
7 Ins. by F.A. 2005
8 Subs. by. F.A. 2009
(zh) income derived by an exporter on account of export of any commodity
[(zi) income derived by a member of a stock exchange on account of transaction of shares, debentures, mutual funds, bonds or securities;]
1 [(zj) income derived on account of courier business of a non-resident;
2[(zk) income derived on account of export cash subsidy;]
3[(zkk) income derived on account of export cash subsidy;]
4[(zl) on account of use of credit card by a credit card holder]]
5(zm) on account of 6[issuance or] renewal of trade licence;
7[(zn) income derived on account of trustee fees;]
(zo) income derived on account of freight forward agency commission;8[;
(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; 9[
.......................................................................
1 Ins. by F.A. 2006
2 Omitted by F.A. 2009
3 Ins. by F.A. 2012
4 Omitted by F.AO 2007
5 Ins. by F.O 2007
6 Omitted by F.O 2008
7 Omitted by F.A. 2010
8 Subs. "semi-colon" for "full-stop" and ins. new clauses (zp), (zq), (zr) and (zs) by F.O 2008
9 Ins. by F.A. 2009
(zt) income derived by foreign technician serving in a diamondcutting industry 1[;
2[(zu) on account of issue of share at a premium;]
[(zv) income derived from transfer of securities or mutual fund units by sponsor shareholders of a company etc.3[
[(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.4[
[(zy) income derived on account of international gateway service in respect of phone call 5[:
[(zz) collection of tax from manufacturer of soft drink] 6[;
(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 7[;
[(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.
.............................................................................................
1 Subs. "semi-colon" for "full-stop" and ins. new clauses (zu), and (zv) by F.A. 2010
2 Omitted by F.A. 2013
3 Subs. "semi-colon" for "full-stop" and ins. new clauses (zw), and (zx) by F.A. 2011
4 Subs. "semi-colon" for "full-stop" and ins. new clauses (zy) by F.A. 2012
5 Subs. for "collection of tax from manufacturer of soft drink" by F.A. 2013
6 Ins.by F.A.2014
7 subs.for and ins.clause(zzg) by F.A. 2015
(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 the head "Salaries,"1[ not being payment made by the Government] 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..
......................................
1Omitted by F.A. 2011
50. Deduction at source from salaries.-
(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.
1[(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 7 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.;
(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 2[sub-section (1) and (A)], 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.
3[(2A) The payment under 4[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 dedcuted 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 5[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.
...................................................
1 Ins. new sub section (1A) and (1B) by F.A. 2015
2 Subs. for "sub section (1)" by F.A. 2015
3 Ins. by F. A, 2013
4 Subs. for "sub section (1)" by F.A. 2015
5 Subs. for "sub section (1)" by F.A. 2015
1[50A. Deduction at source from discount of the real value of Bangladesh Bank bills.-
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 greater.
2[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 recognized providend fund,or a workers" profit participation fund]
.......................................................
1 Ins. by F.A. 1997
2 Ins. Proviso by F.A. 2004
1[50B. Deduction of tax from payment of remuneration to Members of Parliament.-
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.]
..............................................................
1 Ins. new section 50B by F.A. 2011
1[“51. Deduction at source from discount, interest or profit on securities.—
Any person responsible for issuing a security of the Government, or security approved by the Government or Bangladesh Securities and Exchange Commission, income of which is classifiable under the head “interest on securities”, shall collect income-tax at the rate of five percent (5%) on discount, intererst or profit on securities at the time of making payment or credit, whichever is earlier.”। ]
1 Subs. section 51 by F. A. 2020
[51A. Deduction at source from interest on fixed deposits,-
Any person responsible for paying any sum by way of interest on any fixed deposit maintained with any scheduled bank including a co-operative bank or by way of share of profit on term deposit maintained with any bank run on Islamic principles, as the case may be,shall deduct, at the time of credit of such interest or share or profit to the account of the recipient, being resident,or at the time of the payment thereof, whichever is earlier,income tax at the following rates namely:-
(i) where the amount of deposit does not |
Nil |
(ii) Where the amount of deposit exceedsTaka 40,000 |
10 per cent,of the sum of interest or share of profit,as the case may be,on the whole of such deposit: |
Provided that nothing contained in this section shall apply to such recipient or class of recipients as the Boars may,by a general or specila order,specify in this behalf.] by I.T.(amend) Ord. 1985 (sec-2) Sec. 51A ins by F.O. 1985 and subsequently deleted
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1 Ins, sec. 51A by F. O. 1985 and subsecuently ommited by I, T. (amend.) Ord. 1985 (sec-2)
152. Deduction from payment to contractors, etc.-
(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:
2[Provided that–
(a) the rate of tax shall be fifty percent (50%) higher if the payee does not havethe 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;
3[(bb) the rate of tax shall be 50% (fifty percent) higher if the payee does not receive payment by bank transfer or by mobile financial services or any other digital means approved by the Bangladesh Bank;"]
(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.” |
Provided that 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.
(d) where any goods on which tax has been paid at source under section 53E is supplied, tax at source on the said supply shall be B-A, where
A = the amount of tax paid under section 53E,
B = the amount of tax applicable under this section if no tax were paid under section 53E."4[;
(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 authorized 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 Organization registered with the NGO Affairs Bureau; [or a Micro Credit Organisation having licence with Micro Credit Regulatory Authority]
(ix) a school, a college, an institute or a university;
(x) a hospital, a clinic or a diagnostic center;
(xi) a trust or a fund;
(xii) a firm; [(xiia) an association of person,]
(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;
(xiii) a public-private partnership;
(xiv) a foreign contractor, a foreign enterprise or an association or a body established outside Bangladesh; 5[and
(xv) any e-commerce platform, not being any other specified persons, called by whatever name having annual turnover exceeding Taka one crore; and;
(xvi) 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;
And shall also be inclusive of মূল্য সংযোজন কর (value added tax);
(d) “payment” includes a transfer, a credit or an adjustment of payment 6[“or an order or instruction of making payment"]
..................................................................
1 Subs. by F.A. 2016
2Subs. by F.A. 2017
3 Omitted by F. A. 2019
4 Subs. "colon" for "full stop" and ins new provise by F. A. 2020
5 Omitted `and` & subs. items (xv) and (xvi) instate of item (xv) by F. A. 2021
6 Ins. by F. A 2020
152A. Deduction at source from fees for professional or technical services.-
Description of payment | Rate of deduction of tax (%of base amount) |
(a) Where base amount does not exceed taka 25 lakh | 10% |
(b) Where base amount exceeds taka 25 lakh | 12% |
(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, know-how, 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-
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;
And shall also be inclusive of মূল্য সংযোজন কর (value added tax);
(d) “payment” includes a transfer, a credit or an adjustment of payment. 2[“or an order or instruction of making payment]
.....................................................
1Subs. by F.A. 2016
2 Ins. by F.A. 2020
1[52AA. Deduction from the payment of certain services.-
[(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:-
Table
SL. No |
Description of service and payment |
Rate of deduction of tax |
|
---|---|---|---|
Where base amount does not exceed Tk. 25 lakh |
Where base amount exceeds Tk. 25 lakh |
||
1 |
Advisory or consultancy service |
10% |
12% |
2 |
Professional service , technical services fee, or technical assistance fee |
10% |
12% |
3 |
(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; (viii) Event management service; (ix) Training, workshop, etc. organization and management service; (x) [courier Service; (xi) Packing & Shifting Service (xii) any other service of similar nature] (a) on commission or fee (b) on gross bill amount |
10% 1.5% |
12% 2% |
4 |
Media buying agency service a) on commission or fee (b) on gross bill amount |
10% 0.5% |
12% 0.65% |
5 |
Indenting commission
|
6% |
8% |
6 |
Meeting fees, training fees or honorarium.
|
10% |
12% |
7 |
Mobile network operator, technical support service provider or service delivery agents engaged in mobile banking operations
|
10% |
12% |
8 |
Credit rating service |
10% |
12% |
9 |
Motor garage or workshop |
6% |
8% |
10 |
Private container port or dockyard service |
6% |
8% |
11 |
Shipping agency commission |
6% |
8% |
2[12 |
Stevedoring/berth operationa. on commission or fee b. on gross bill amount |
10% 1.5% |
12% 2%] |
3[13 |
(i) Transport service, carrying service, vehicle rental service; (ii) Any other service under any sharing economy platform including ride sharing service, coworking space providing service and accommodation providing service.; |
3% |
4% |
13A | Wheeling charge for electricity transmission | 2% | 3% |
14 |
Any other service which is not mentioned in Chapter VII of this Ordinance and is not a service provided by any bank, insurance or financial institutions |
10% |
12% |
Provided that if the amount for services mentioned in SL No. 3 and 4 of the Table shows both commission or fee and gross bill amount tax shall be the higher amount between (i) and (ii) where-
B = Gross bill amount
C = 10% for Sl. 3 and 2.5% for Sl. 4, and
D = rate of tax applicable on commission or fee:
Provided further 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:
Provided further that where the Board, on an application made in this behalf, gives certificate in writing that the person rendering such service is otherwise exempted from tax under any provision of this Ordinance, the payment referred to in this section shall be made without any deduction or with deduction at a lesser rate for thatincome year.
............................................................................................................
1 Subs. by F. A. 2017
2 Subs. by F. A. 2021
3 Subs. by F. A. 2020
1[52AAA. Collection of tax from clearing and forwarding agents.-
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 2[ten percent] on such commission at the time of clearance of goods imported or exported].
.......................................................................................
1 Ins. by F.A. 2004
2 Subs. for "seven and half per cent" by F.A. 2010
1[52B. Collection of tax from Cigarette manufacturers .-
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.]
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1 Sub by F.A. 2016
1[52C. Deduction at source from compensation against acquisition of property.-
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) 2[Six] per cent of the amount of such compensation where the immovable property is situated in any city corporation, paurashava or cantonment board;
(b) 3[three] per cent of the amount of such compensation where the immovable property is situated outside any city corporation, paurashava or cantonment board.]
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1 Subs by F. A. 2010
2 Subs for "two" by F.A 2020
3 Subs. for "one" by F.A 2020
1[“52DD. Deduction from payment to a beneficiary of workers’ participation fund.-
(1) 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 payment, deduct tax at the rate of 5% (five percent) on whole payment
(2) No tax under sub-section (1) shall be deducted from the payment of worker’s participation fund where the following conditions are met (i) the beneficiary does not have taxable income; and (ii) amount of fund does not exceed taka 25,000.]
1 Subs. by F. A. 2021
1[52D. Deduction at source from interest on saving instruments.-
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 working any payment by way of interest on any savings instruments shall, at the time of such payment, deduct income tax at the rate of ten percent (10%) 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 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, pound sterling investment bond or Pound sterling premium bond.]
.............................................................
1 Subs by F. A. 2016
1[52E. Collection of tax on account of bonus.-
The principal officer of any company registered under the companies Act,1913(VII of 1913) or কোম্পানী আইন ,1994( (১৯৯৪ সনের ১৮নং আইন) shall, at the time of isuing any bonus to its shareholders,collect Income- tax at the rate of ten percent on the amount of the bonus]
...................................................................
1Omitted by F.A. 2001
1[52F. Collection of tax from brick manufacturers.-
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:
2[(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.]Subs F. A. 2014
Explanation:- For the purpose of this section, the word “section” shall have the same meaning as defined in কোম্পানী আইন, ১৯৯৪ (১৯৯৪ সনের ১৮ নং আইন), 2004.
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1 Ins. by F.A. 2005
2 Subs. by F.A. 2014
1[52G.Deduction from fees for services rendered by doctors.-
The principal officer of any company registered under the companies Act,1993 ( VII of 1913) or কোম্পানী আইন 1994 (১৯৯৪ (১৯৯৪ সনের ১৮নং আইন) or the chief executive of any non-government organisation registered with the Bureau of Non-government organisation or the chief executive of any trust registered under the Trusts Act,1882 (II of 1882) running any general or specialised hospital or any diagnostic centre shall be responsible for making any payment to any doctor which may be payable to him on account of fees for services rendered by him to a patient in such hospital or dignostic centre and shall, at the time of making such payment,deduct income tax at the rate of [five] percent.on the amount so payable.]
..........................................................................
1Omitted by F.A. 2004
1[52H. Collection of tax from persons engaged in the real este business.-
(1) Any authority responsible for approving any plan submitted by any person engaged in thr real estate business for the purpose of construction of any residential or commercial building shall, at the time of giving such approval, collect income tax from the person submitting such plan at the following rates;-
(a) where the proposed building is situated within the limits of Dhaka city corporation,three percent,of the estimated cost of construction of such building or the aggregate of taka one houdred and fifty per square metre,whichever is higher;
(b) where the proposed building is situated within the limits of any city corporation or of a pourasava of a divisional headquarters or district headquarters,one percent of the cost of construction of such building or the aggregate of taka thirty percent metre,whichever is higher;
(2) The amount of tax referred to in sub-section (1) shall be treated as apayment of tax in respect of the income of the period which would be the income year in which the building referred to in the said sub-section is completed.]
.................................................................
1Omitted by F.A. 2000
52I. Deduction from the commission of letter of credit.-
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.
1[52 j. Collection of tax from travel agent.-
A person responsible for paying to a resident any sum by way of commission or discount for selling tickets of an airline or for carrying cargo shall deduct or collcet advance tax at the time of paying such commission or allowing discount, at such rate and in such manner,as may be prescribed.]
..........................................................
1 Ins. by F.A. 2000 subsequently omitted by F.A. 2001
1[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 sub-section (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 sub-section (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.]
.................................................................................................................
1 Subs. by F. A. 2016
1[ 2[52K. Collection of tax by City Corporation or Paurashava at the time of renewal of trade license.-
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 [Three thousand] in 3[Dhaka South City Corporation, Dhaka North City Corporation] or Chittagong City Corporation;
(b) taka [Two thousand] 4[in any city corporation]
(c) taka [One thousand] in any paurashava at any district headquarter;
(d) taka Five hundred in any other paurashava.]
.....................................................................
1 Ins. section 52K, 52L and 52M by F.O 2007
2 Subs. by F.O. 2008 again subs. by F.A. 2012
3 Subs. by F.O. 2017
4 subs. by F.A. 2017
1[52L. Collection of tax on account of trustee fees.-
Any person responsible for making any payment by way of trustee fees, at the time of making such payment , shall deduct tax at the rate of ten per cent of the said amount.]
...........................................................
1Omitted by F.A. 2010
52M. Collection of tax from freight forward agency commission.-
Any person responsible for making any payment by way of freight forward agency commission, at the time of making such payment 1[or credit of such payment to the account of the payee], shall deduct tax at the rate of 2[fifteen percent] of the said amount.
............................................................................
1 Ins. by F.A. 2011
2 Subs. for "seven and half per cent" by F.A. 2010
1[“52N. Collection of tax on account of purchase of power.-
1.Notwithstanding anything contained in this Ordinance, Bangladesh Power Development Board or any other person engaged in power distribution, at the time of payment to any person on account of purchase of power, shall collect, deduct or pay tax on the said payment at the rate of six percent.
(2) Where a person is exempted from tax or is subject to a reduced tax rate in an income year, the Board may, on an application made in this behalf, give a certificate in writing that the payment for that income year shall be made without any deduction or with deduction at a proportionately reduced rate, as the case may be."]
1 Ins. new section 52N by Income tax (Amendent) Act, 2009 (Act No. 11 of 2009), Dated: 24.02.2009 Subsequently subs by F. A. 2021
1[52O. Collection of tax from a foreign technician serving in a diamond cutting industry.-
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.]
..........................................................
1 Ins. by F.A. 2009
1[52P. Deduction of tax for services from convention hall, conference centre, etc.-
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 কোম্পানী আইন, 1994 (1994 সনের ১৮ নং 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.
......................................................
1Ins. new sections 52P & 52Q by F.A. 2011
1[“52Q. Deduction of Tax from any income remitted from abroad in connection with any service, revenue sharing, etc.-
Any person, responsible for paying or crediting to the account of a person any sum remitted from abroad by way of a fee, service charges, commission or remuneration, called by whatever name, or by way of revenue sharing of any name and nature, for—
(a) providing any service rendered in Bangladesh; or
(b) rendering any service or performing any task by a resident person in favour of a foreign person; or
(c) allowing the use of any online platform for advertisement or any other purposes, shall deduct tax at the rate of ten percent at the time of making payment of the sum or crediting the sum to the account of the payee:
2[“Provided that the rate of deduction under this section shall be 7.5% (seven point five percent) where the remittance has been received as consideration for contracts on manufacturing, process or conversion, civil work, construction, engineering or works of similar nature: Provided further that no deduction under this section shall be made against the remittance from abroad which is-
(i) the proceeds of sales of software or services of a resident if the income from such sales or services is exempted from tax under paragraph 33 of Part A of the Sixth Schedule, or
(ii) excluded from total income by paragraph 48 of Part A of the Sixth Schedule"
..........................................................................
1 Subs. section 52Q by F. A. 2020
2 Subs. two proviso instate of a proviso by F. A. 2021
1[52R. Deduction of tax from receipts in respect of international phone call. –
(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 2[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 the any sum related to international phone call is paid or credited to the account of Interconnection Exchange (ICX), Access Network Services (ANS) 3[Bangladesh Telecommunication Regulatory Commission (BTRC)"] or any other person under an agreement with the Bangladesh Telecommunication Regulatory Commission (BTRC), shall deduct tax at the rate of 4[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.
5[(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 6 [ sub-section (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.]
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1 Ins. by F. A. 2012
2 Subs by F.A. 2016
3 Ins by F. A. 2020
4 Subs by F.A. 2016
5 Subs by F.A. 2017
6 Subs by F.A. 2017
1[52S. Collection of tax from manufacturer of soft drink 2[, etc.]-
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1 Ins. new section 52S by F. A. 2013
2 Ins by F. A. 2014
3 Ins by F. A. 2014
4 Subs. for "three percent" by F. A. 2015
5 Ins by F. A. 2014
1[52T. Deduction of tax from any payment in excess of premium paid on life insurance policy.-
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1 Ins new section 52 T, 52U and 52V by F.A. 2014
52U. Deduction from payment on account of local letter of credit.-
3..1[The tax shall be deducted at the rate of two percent (2%) local letter of credit (L/C) and any other financing agreement in respect of 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 2[, computer or computer accessories, jute, cotton, yarn] Added F. A. 2015 and all kinds of fruits.
.3[4. Nothing in this section shall limit the applicability of section 52.]
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1 Subs. for "the proviso of this section shall not be applicable" by F. A. 2020
2 Ins by F. A. 2015
3 Ommited Sub-section (4) by F. A. 2020
52V. Deduction from payment by cellular mobile phone operator.-
1[“53. Collection of tax on account of import of goods.-
The Commissioner of Customs or the officer authorized in this behalf shall collect advance income tax at such rate, not exceeding 20% (twenty percent) on the value of imported goods, as may be prescribed]
1 subs. section 53 by F. A. 2021
1[53A. Deduction at source from house property.-
2[(1) Where the Government of 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 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 3[donation or assistance or any university or medical college or dental college or engineering college 4[or any college or school] 5[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 6[at the rate of five percent]
7[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 the relevant year, it is found that 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.
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1 Ins by F. A. 1988
2 Subs by F. A. 1992
3 Subs. for "donation or assistance by F. A 2004"
4 Ins. by F. A. 2012
5 Ins by F. A. 2014
6 Subs. for "such amount as may be prescribed" by F. A. 2012
7 Subs by F. A. 1999
1[53AA. Collection of tax from shiping business of a resident.-
Commissioner of customs or any other authority, duly authorised in this behalf, shall not grant port clearence to a ship owened or charterd by a resident assessee unless 2[a certificate is received in prescrived manner from Deputy Commissioner of Taxes concerned and] tax at the rate of 3[five percent] of total freight receved or receivable in or out of Bangladesh has been paid of carriage of passanger, livestock, mail or goods , shiped at any port of Bangladesh 4[:
provided that tax shall be collected at the rate of three percent of total freight receved or receivable from services rendered between two or more foreign countries.]
...................................................................
1 Ins. Sec. 53AA by F.A. 2005
2 Ins by F. A. 2015
3 Subs. for "four percent" by F.O. 2007
4 Ins. by F.A. 2009
1[53B. Deduction of tax from income derived on account of export of manpower.- 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 2[at such percentage] of the service charge or fees mentioned in Ordinance, 1982 (XXIX of 1982), as may be prescribed.
...........................................................................................
1 Ins. Sec. 53B, 53C and 53D by F.A. 1988
2 Subs. for "at such rate, not exceeding seven and a half per cent" by F.A. 1993
**[1[2[53BB. Collection of tax from export of certain items.-
The bank, throughwhich 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 rateof 3[zero point five percent (0.5%)] 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 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.
....................................................
** The rate under section 53BB has been reduced from "(0.80%)" to "(60%)" by SRO No. 224-L/2015. Dated: 02/07/2015 }
1 Ins. Sec. 53BB and 53BBB by F.A. 2005
2 Subs. Sec 53BB by F.A. 2009
3 Subs. for "onr percent (1%)" by F.A. 2020
* The rate "zero point eight zero percent (o.10%)" has been reduced to "zero point zero five percent (0.05%)" by SRO No. 334-L/IT/2011 Dated: 27/10/2011
1[53BBB. Collection of tax from Member of Stock Exchanges.-
The Chief Executive Officer of a stock exchange shall collect tax at the rate of “zero point zero five percent (0.05%)”on the value of shares and mutual funds transacted by a member of a stock exchange and at the rate of ten percent (10%) on the commission received or receivable by a member of a stock exchange for the transaction of securities other than shares and mutual funds at the time of making payment for such transactions.”।]
1 Subs section 53BBB by F.A. 2020
***[1[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 2[zero point five percent (0.5%)] 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.]
....................................................................
*** The rate under section 53BBBB has been reduced from "(0.80%)" to "(0.60%)" by SRO No. 224-L/2015 Dated: 02/07/2015
1 Ins by F. O. 2007 and subs. by F. A. 2009
2 Subs. for "one precent (1%)" by F.A. 2020
53C. Collection of tax on sale price of goods or property sold by public auction.-
Any person making sale, by 1[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
2[other than a private limited company,] as defined in 3[4the Companies Act, 1913 (VII of 1913) or1or any banking company, কোম্পানী আইন, 1994 (1994 সনের ১৮ নং 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 5[at such rate, of 10% (ten percent) of the sale price],
6[“Provided that the rate of deduction shall be 1% (one percent) in case of sale of tea by public auction]
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, fees or other levies, by whatever name called, but does not include sale of a plot of land.
...........................................................
1Subs. for "public auction" by F.A. 1996
2 Omitted by F.A. 2011
3 Subs. for "the companies Act. 1913 (VII of 1913)" by F.A. 1995
4 Omitted by F.A. 2011
5 Subs by F.A 2021
6 Ins new proviso by F. A. 2021
1[53CCC. Deduction or collection of tax at source from courier business of a non-resident.-
Any person being a company registered under the Companies Act, 1913 (VII of 1913) or কোম্পানী আইন, ১৯৯৪ (১৯৯৪ সনের ১৮ নং আইন) working as local agent of a non resident courier company shall deduct or collect tax in advance a 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.]
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1 Added by F.A. 2016
1[53CC. Deduction or collection of tax at source from courier business of a non-resident.-
Any person being a company registered under the Companies Act, 1913(VII of 1913) or কোম্পানী আইন, 1994 (1994 সনের ১৮ নং আইন) working as local agent of a nonresident courier company shall deduct or collect tax in advance at the rate of 2[fifteen percent] on the amount of service charge accrued from the shipment of goods, documents, parcels or any other things outside Bangladesh.]
..............................................................................
1 Ins. by F.A. 2006 and subsequently omitted by F. A. 3015
2 Subs. for "seven and half percent" by F.A. 2010
1[53D. Deduction from payment to actors, actresses, producers, etc.-
(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 2[:
Provided that no tax shall be deducted under this section if the total payment does not exceed ten thousand taka.]]
..................................................................................................
1 Subs. by F.A. 2011
2 Subs. "colon" for "full-stop" and ins. new proviso by F.A. 2012
1[53DD. Deduction of tax at source from export cash subsidy.-
Any person responsible for paying any amount on account of export cash subsidy to an exporter for promotion of export shall deduct or collect tax in advance at the rate of five per cent on the amount so payable.] Deleted F.A. 2009
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1Ins. by F.A. 2006 and omitted by F.A. 2009
1[53DDD. Deduction of tax at source from export cash subsidy.-
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1 Ins new section 53DDD by F. A. 2012
2 subs for "five percent" by F. A 2014
1[53E. Deduction or collection at source from commission,discount, fees, etc.- (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-
b.“contract” includes an agreement or arrangement, whetherwritten or not.” 3|;
c. company includes a firm]
..........................................................................................................
1 Ins. by F. A. 2017
2 Ins by F. A. 2020
3 Subs. ";" for "." new clause (c) by F. A. 2021
53E. Deduction Or Collection At Source From 1[Commission, Discount Of Fees].
2[(1) 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 3[4[the Companies Act, 1913 (VII of 1913) or]] কোম্পানী আইন, 1994 (1994 সনের ১৮ নং আইন) which makes any payment to any distributor or to any other persons by way of commission, or fees 5[or allows any discount] 6[or dealer's promotional charges or fees or commission or any other payement called by whatever name] for distribution or marketing of goods 7[Manufactured by it], shall deduct or collect at the time of credit of such commission, or fees or at the time of payment thereof, whichever is earlier, 8[or at the time of allowing discount] as advance tax an amount at the rate 9[10[ten percent]. of commission, or fees payable or discount allowed]
11[(2) Any company, other than an oil marketing company, whick 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= 12%
Explanation.- >For the purpose of this section, “contract” includes an agreement or an arrangement, whether written or not.]
................................................................................
1 Subs. for "by way of commission or fees" by F.A. 2001
2 Existing law of section 53E is numbered as a sub-section (1) & ins new sub section (2) by F.A 2013
3 Subs. for "the Companies Act. 1913 (VII of 1913)" by F.A. 1995
4 Omitted by F.A. 2011
5 Subs. for "by way of commission or fees" by F.A. 2001
6 Ins. by F. A. 2015
7 Omitted by F.A. 2011
8 Subs. for whichever is earlier" by F.A. 2001
9 Subs. for "five per cent of commission or fees payable" by F.A. 2001
10 Subs. for "seven and half percent" by F.A. 2011
11 Subs by F. A. 2016
1[53EE. Deduction of tax from commission or remuneration paid to agent of foreign buyer.-
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 2[ten percent (10%)] on the commission, charges or remuneration so paid at the time of such payment.]
...........................................................
1 Ins by F.A. 2000
2 Subs. for "four percent" by F.A. 2010 and again subs. for "seven and half percent" by F. A. 2015
1[53F. Deduction at source from interest on saving deposits and fixed deposits, etc.-
(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 cooperative bank or any bank run on Islamic principles or non-banking financial institution or any leasing 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 2[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 3[twelve-digit Taxpayer's Identification Number] (TIN) to the payer:
4["(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.";
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 5[;
“Provided further that twelve-digit Taxpayer’s Identification Number (TIN) of parent shall be considered as Taxpayer’s Identification Number (TIN) of a minor.]
.
6[(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 profit on any saving deposits or fixed deposits or any term deposit maintained with any Scheduled bank including a co-operative bank or any bank run on Islamic principles or non-banking financial institution 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-
(a) to interest or share of profit arising out of any deposit pension scheme sponsored by the Government or by 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.]
...................................................................................
1 Sec. 53F ins. by F.A. 1990 and subs. by F.A. 2012
2 Subs. for "Taxpayer is Identification Number" by F.A.2014
3 Subs. for "Taxpayer is Identification Number" by F.A.2014
4 Ins. new clause (c) by F. A. 2015
5 Subs ";" for "." & ins new proviso by F. A. 2021
6 Subs. by F.A.2016