Income Tax Ordinance

Chapter I (Primary)

1. Short title and commencement
2. Definitions.-
Chapter II

3. Income Tax Authorities
4. Appointment of income tax authorities.—
4. A. Delegation of powers.
5. Subordination and control of income tax authorities.
6. Jurisdiction of income tax authorities.—
7. Exercise of jurisdiction by successor.--
8. Officers, etc. to follow instructions of the Board.--
9. Guidance to the Deputy Commissioner of Taxes, etc.--
10. Exercise of assessment functions by the Inspecting Joint Commissioners and the Inspecting Additional Commissioners.-
Chapter III

11. Establishment of Appellate Tribunal.-
12. Exercise of power of the Tribunal by Benches.-
13. Decision of Bench.-
14. Exercise of power by one member.-
15. Regulation of Procedure.-
Chapter IV

16. Charge of income tax.-
16A. Charge of surcharge.-
16B. Charge of additional tax.-
16BB. Charge of additional amount, etc.-
16BBB. Charge of minimum tax.-
16C. Charge Or Excess Profit Tax.
16CC. Charge of minimum tax.-
16CCC. Charge of minimum tax.-
16D. Charge of dividend distribution tax:-
16E. Charge of tax on sale of share in a premium over face value.—
17. Scope of the total income.-
18. Income deemed to accrue or arise in Bangladesh.--
19. Un-explained investments, etc., deemed to be income.-
19A. Special tax treatment in respect of investment in new industry.-
19AA. Special tax treatment in certain cases of investment.-
19AAA. Special tax treatment in respect of investment in the purchase of stocks and shares.-
19B. Special tax treatment in respect of investment in house property.–
19BB. Special tax treatment in respect of investment in land property.-
19BBB. Special tax treatment regarding investment in motor vehicles:--
19BBBB. Special tax treatment in respect of investment in house property.-
19BBBBB. Special tax treatment in respect of investment in residential building and apartment.-
19C. Special tax treatment in respect of investment in the purchase of bond under Bangladesh Infrastructure Finance Fund.—
19D. Special tax treatment in respect of investment in the purchase of Bangladesh Government Treasury Bond.-
19E. Voluntary disclosure of income.-
Chapter V

20. Heads of income.-
21. Salaries.-
22. Interest on securities.-
23. Deductions from interest on securities.
24. Income from house property.-
25. Deductions from income from house property.-
26. Agricultural income.-
27. Deductions from agricultural income.-
28. Income from business or profession.-
29. Deductions from income from business or profession.-
30. Deduction not admissible in certain circumstances.-
30A. Provision for disallowance-
31. Capital gains .-
32. Computation of capital gains.-
33. Income from other sources.-
34. Deductions from income from other sources.-
35. Method of accounting.-
36. Allocation of income from royalties, literary works, etc.-
37. Set off of losses.-
38. Carry forward of business losses.-
39. Carry forward of loss in speculation business.-
40. Carry forward of loss under the head "Capital gains".
41. Carry forward of loss under the head "Agricultural income".-
42. Conditions and limitations of carry forward of loss, etc.-
43. Computation of total income.-
Chapter VI

44. Exemption.-
45. Exemption of income of an industrial undertaking.-
46. Exemption of income of a tourist industry.-
46A. Exemption from tax of newly established industrial undertakings, etc. in certain cases.-
46B. Exemption from tax newly established industrial undertakings set-up between the period of July, 2011 to June, 2[2019], etc. in certain cases.-
46C. Exemption from tax of newly established physical infrastructure facility set up between the period of July, 2011 and June, 2 [2019], etc.
47. Exemption of income of co-operative societies.-
Chapter VII

48. Deduction at source and advance payment of tax.-
49. Income subject to deduction at source.-
50. Deduction at source from salaries.-
50A. Deduction at source from discount of the real value of Bangladesh Bank bills.-
50B. Deduction of tax from payment of remuneration to Members of Parliament.-
51. Deduction at source from interest on securities.-
51A. Deduction at source from interest on fixed deposits,-
52. Deduction from payment to contractors, etc.-
52A. Deduction at source from fees for professional or technical services.-
52AA. Deduction from the payment of certain services.-
52 AAA. Collection of tax from clearing and forwarding agents:-
52B. Collection of tax from Cigarette manufacturers .-
52C. Deduction at source from compensation against acquisition of property.-
52D. Deduction at source from interest on saving instruments.-
52DD. Deduction at source from payment to a beneficicary of workers’ participation fund.-
52E. Collection of tax on account of bonus.-
52F. Collection of tax from brick manufacturers.-
52G. Deduction from fees for services rendered by doctors.-
52H. Deduction of tax from persons engaged in the real este business.-
52I. Deduction from the commission of letter of credit.-
52 j. Collection of tax from travel agent.-
52JJ. Collection of tax from travel agent.-
52K. Collection of tax by City Corporation or Pourashava at the time of renewal of trade licence.-
52L. Collection of tax on account of trustee fees.-
52M. Collection of tax from freight forward agency commission.-
52N. Collection of tax on account of rental power. -
52O. Collection of tax from a foreign technician serving in a diamond cutting industry.-
52P. Deduction of tax for services from convention hall, conference centre, etc.-
52Q. Deduction of tax from resident for any income in connection with any service provided to any foreign person.-
52R. Deduction of tax from receipts in respect of international phone call. –
52S. Collection of tax from manufacturer of soft drink
52T. Deduction of tax from any payment in excess of premium paid on life insurance policy
52U. Deduction from payment on account of local letter of credit.
52V. Deduction from payment by cellular mobile phone operator
53. Collection of tax from importers and exporters.-
53A. Deduction at source from house property
53AA. Collection of tax from shipping business of a resident.-
53B. Deduction of tax from income derived on account of export of manpower.-
53BB. Collection of tax from export of certain items.-
53BBB. Collection of tax from Member of Stock Exchanges.-
53BBBB. Collection of tax from export of any goods except certain items
53C. Collection of tax on sale price of goods or property sold by public auction.-
53CC. Deduction or collection of tax at source from courier business of a non-resident.-
53CCC. Deduction or collection of tax at source from courier business of a non-resident.-
53D. Deduction from payment to actors and actresses.-
53DD. Deduction of tax at source from export cash subsidy
53DDD. Deduction of tax at source from export cash subsidy
53E. Deduction Or Collection At Source From Commission, Discount Of Fees.
53EE. Deduction of tax from commission or remuneration paid to agent of foreign buyer.-
53F. Deduction at source from interest on saving deposits and fixed deposits, etc.-
53FF. Collection of tax from persons engaged in real estate or land development business.-
53G. Deduction at source from insurance commission.-
53GG. Deduction at source from fees, etc. of surveyors of general insurance company.-
53GGG.Collection of tax on the credit bill amount of credit cards
53H. Collection of tax on transfer, etc. of property.-
53HH. Collection of tax from lease of property
53I. Deduction at source from interest on deposit of Post Office Savings Bank Account.-
53J. Deduction at source from rental value of vacant land or plant or machinery.-
53K. Deduction of tax from advertising bill of newspaper or magazine or private television channel.-
53L. Collection of tax from sale of share in a premium over face value.—
53M. Collection of tax from transfer of securities or mutual fund units by sponsor shareholders of a company etc.-
53N. Collection of tax from transfer of share of shareholder of Stock Exchanges
53O. Deduction of tax from gains of securities traded in the Stock Exchanges
53P. Deduction of tax from any sum paid by real estate developer to land owner
54. Deduction of tax from dividends.-
55. Deduction from income from lottery, etc.-
56. Deduction from income of non-residents.-
57A. Consequences of the issuance of certificate of tax deduction or collection without actual deduction, collection, collection or payment.-
57. Consequences of failure to deduct, Collect, etc.-
58. Certificate of deduction, etc., of tax.-
59. Payment to Government of tax deducted.-
60. Unauthorized deduction prohibited.-
61. Power to levy tax without prejudice to other mode of recovery.
62. Credit of tax deducted or collected at source.-
62A. Procedure of deduction or collection of tax at source.-
63. Payment of tax where no deduction is made.-
64. Advance payment of tax.-
65. Computation of advance tax.-
66. Installments of advance tax.-
67. Estimate of advance tax.-
68A. Advance tax on certain income.-
68B. Advance tax for the owners of private motor car.-
68. Advance payment of tax by new assessees.
69. Failure to pay installments of advance tax-
70. Levy of interest for failure to pay advance tax.-
71. Credit of advance tax.-
72. Interest payable by Government on excess payment of advance tax.
73A. Delay Interest for not filing return on or before the Tax Day.-
73. Interest payable by the assessee on deficiency in payment of advance tax.
74. Payment of tax on the basis of return.-
Chapter VIII

75. Return of income.-
75A. Return of withholding tax.-
75AA. Audit of the return of withholding tax.-
75B. Obligation to furnish Annual Information Return.-
75C. Concurrent jurisdiction.-
76. Certificate in place of return.-
77. Notice for filing return.-
78. Filing of revised return.-
79. Production of accounts and documents.-
80 Statements of assets, liabilities and life style-.
Chapter IX

81. Provisional assessment.-
82. Assessment on correct return.
82A. Assessment under simplified procedure.-
82B Assessment on the basis of return.—
82BB. Universal Self Assessment.-
82C. Minimum Tax. -
82D. Spot assessment.-
83. Assessment after hearing -
83A. Self assessment.-
83AA. Self-assessment for private limited companies.-
83AAA. Assessment on the basis of report of a chartered accountant. -
84. Best judgment assessment.-
84A. Presumptive assessment—
85. Special provisions regarding assessment of firms.-
86. Assessment in case of change in the constitution of a firm.
87. Assessment in case of constitution of new successor firm.-
88. Assessment in case of succession to business otherwise than on death.-
89. Assessment in case of discontinued business.-
90. Assessment in case of partition of a Hindu undivided family.
91. Assessment in case of persons leaving Bangladesh.-
92. Assessment in case of income of a deceased person.-
93. Assessment in case of income escaping assessment, etc.
94. Limitation for assessment.
94A. omitted by F.A. 2003
Chapter X

95. Liability of representative in certain cases.-
96. Persons to be treated as agent.-
98. Liability of firm or association for unrecoverable tax due from partners or members.-
99. Liability of partners, etc., for discontinued business of a firm, etc.-
100. Liability of directors for unrecoverable tax of private companies.-
101. Liability of liquidator for tax of private companies under liquidation.-
97. Right of representative to recover tax paid.-
102. Liability to tax in case of shipping business of non-resident.-
103. Adjustment of liability to tax in case of shipping—
103A. Liability to tax in case of air transport business of non-residents.-
Chapter XI

104. Avoidance of tax through transactions with non-residents.-
105. Avoidance of tax through transfer of assets.-
106. Avoidance of tax by transactions in securities.-
107. Tax clearance certificate required for persons leaving Bangladesh.-
Chapter XIA

107A. Definitions.-
107B. Determination of income from international transaction having regard to arm’s length price.-
107C. Computation of arm’s length price.-
107D. Reference to Transfer Pricing Officer.-
107E. Maintenance and keeping of information, documents and records.-
107EE. Statement of international transactions to be submitted.-
107F. Report from an accountant to be furnished.-
107G. Penalty for failure to keep, maintain or furnish information, documents or records to the Deputy Commissioner of Taxes.-
107H. Penalty for failure to comply with the notice or requisition under section 107C.-
107HH. Penalty for failure to comply with the provision of section 107EE.-
107I. Penalty for failure to furnish report under section 107F.-
107J. Applicability of this Chapter.-
Chapter XII

108. Information regarding payment of salary.-
109. Information regarding payment of interest.-
110. Information regarding payment of dividend.-
Chapter XIII

Chapter XIV

112. Powers under this Chapter not to prejudice other powers.-
113. Power to call for information.-
114. Power to Inspect registers of companies.-
115. Power of survey.-
116. Additional powers of enquiry and production of documents.-
117. Power of search and seizure.
117A. Power to verify deduction or collection of tax.-
118. Retention of seized assets.-
119. Application of retained assets.-
120. Power of Inspecting Joint Commissioner to revise orders of Deputy Commissioner of Taxes.-
121. Revisional power of Commissioner.—
121A. Revisional power of Commissioner.-
122. Power to take evidence on oath, etc.-
Chapter XV

123. Penalty for not maintaining accounts in the prescribed manner-
124. Penalty for failure to file return, etc.-
124A. Penalty for using fake Tax-payer’s Identification Number.-
124AA. Penalty for failure to verify Taxpayer’s Identification Number
125. Failure to pay advance tax, etc.-
126. Penalty for non-compliance with notice.-
127. Failure to pay tax on the basis of return.-
128. Penalty for concealment of income.
129. Incorrect distribution of income by registered firm—
129A. Penalty for incorrect or false audit report by chartered accountant
129B. Penalty for furnishing fake audit report
130. Bar to imposition of penalty without hearing.
131. Previous approval of Inspecting Joint Commissioner for imposing penalty.-
131A. Previous approval of Inspecting Joint Commissioner for imposing penalty
132. Orders of Appellate Joint Commissioner, etc., to be sent to Deputy Commissioner of Taxes:-
133. Penalty to be without prejudice to other liability.-
Chapter XVI

134. Tax to include penalty, interest, etc.-
135. Notice of demand.-
136. Simple interest on delayed payment—
137. Penalty for default in payment of tax.-
138. Certificate for recovery of tax.-
139. Method of recovery by Tax Recovery Officer.
140. Power of withdrawal of certificate and stay of proceeding.-
141. Validity of certificate for recovery not open to dispute.
142. Recovery of Tax through Collector of District.-
142A. Recovery of tax through Special Magistrates.-
143. Other modes of recovery.-
Chapter XVII

144. Agreement to avoid double taxation.-
145. Relief in respect of income arising outside Bangladesh.-
Chapter XVIII

146. Entitlement to refund.-
147. Claim of refund for deceased or disabled persons.-
148. Correctness of assessment, etc., not to be questioned.-
149. Refund on the basis of orders in appeal.-
150. Form of claim and limitation.-
151. Interest on delayed refund.--
152. Adjustment of refund against tax.-
Chapter XVIIIA

152A. Definition
152B. Taxes settlemsent Commission
152C. Powers and Functions of Commission
152D. Application for Settlement of Cases
152E. Disposal of application by the Commission
Chapter XVIIIB

152F. Alternative Dispute Resolution
152G. Commencement of ADR
152H. Definition
152I. Application for alternative resolution of disputes.-
152II. Stay of proceeding in case of pending appeal or reference at Appellate Tribunal or High Court Division
152J. Eligibility for application for ADR.-
152K. Appointment of Facilitator and his duties and responsibilities.-
152L. Rights and duties of the assessee for ADR.-
152M. Nomination and responsibility of the Commissioner's Representative in ADR.-
152N. Procedures of disposal by the Alternative Dispute Resolution.-
152O. Decision of the ADR.-
152P. Effect of agreement.-
152Q. Limitation for appeal where agreement is not concluded.-
152R. Post verification of the agreement.-
152S. Bar on suit or prosecution.-
Chapter XIX

153. Appeal against order of Deputy Commissioner of Taxes and Inspecting Joint Commissioner.-
154. Form of appeal and limitation.-
155. Procedure in appeal before the Appellate Joint Commissioner or the Commissioner (Appeals).-
156. Decision in appeal by the Appellate Joint Commissioner or the Commissioner (Appeals)-
157. Appeal against order of Tax Recovery Officer.-
158. Appeal to the Appellate Tribunal.-
159. Disposal of appeal by the Appellate Tribunal.-
160. Reference to the High Court Division.-
161. Decision of the High Court Division.-
162. Appeal to the Appellate Division.-
Chapter XX

163. Statements, returns, etc. to be confidential.
Chapter XXI

164. Punishment for non-compliance of certain obligations.-
165. Punishment for false statement in verification, etc.-
165A. Punishment for improper use of Tax-payer’s Identification Number.-
165AA. Punishment for furnishing fake audit report.
165B. Punishment for obstructing an income tax authority.-
165C. Punishment for unauthorised employment.-
166. Punishment for concealment of income, etc.-
167. Punishment for disposal of property to prevent attachment.-
168. Punishment for disclosure of protected information.-
169. Sanction for prosecution.-
170. Power to compound offences.-
171. Trial by Special Judge.-
Chapter XXII

172. Relief when salary, etc. is paid in arrear or advance.-
173. Correction of errors.-
173A. Place of assessment.-
174. Appearance by authorised representative.-
175. Tax to be calculated to nearest taka.-
176. Receipts to be given.-
177. Computation of the period of limitation.
178. Service of notice.-
179. Certain errors not to vitiate assessment, etc.-
180. Proceeding against companies under liquidation.-
181. Indemnity.-
182. Bar of suits and prosecution, etc.-
183. Ordinance to have effect pending legislative provision for charge of tax.-
184. Restriction on registration of documents
184A. Requirement of certificate in certain cases.-
184AA. Tax-payer's identification number (TIN) in certain documents, etc.-
184B.Tax-payer's identification number.-
184BB. Tax collection account number.-
184BBB. Unified Taxpayer's Identification Number (UTIN).-
184BBBB. Issuance of Temporary Registration Number (TRN).-
184C. Displaying of tax payer's identification number certificate.-
184D. Reward to officers and employees of the Board and its sub ordinate income tax offices for collection and detection of evasion of taxes.-
184E. Assistance to income tax authorities.-
184F. Ordinance to override other laws.-
Chapter XXIII

185. Power to make rules.-
185A. Power to issue circular, clarification, etc.-
186. Repeal and savings.-
187. Removal of difficulties.-