53O. Deduction of tax from gains of securities traded in the Stock Exchanges

¹[53O. Deduction of tax from gains of securities traded in the Stock Exchanges.-

(1)  The Principal Officer of a company holding Trading Right Entitlement Certificate (TREC) under  ―এক্সচেচেস  ডিডিউচ্যুয়ালাইচেশন  আইন,  ২০১৩,  (২০১৩  সচনর  ১৫  নং আইন)‖ of  any stock exchange dealing in shares or securities listed with such stock  exchange  or  a  bank  or  merchant  bank  or  financial  institution maintaining account of any investor of shares or securities shall deduct tax at the  rate  of  ten  percent  of  the  realised  gains  derived  by  any  company,  as defined in clause (20) of section 2 of this Ordinance, or firm  before closing of a financial year.

(2) For the purpose of calculation of the realised gain of a share or security under  sub-section  (1),  proportionate  average  cost  of  such  share  or  security including  all  commissions,  fees  or  interest  of  any  loan  or  advance  paid  or charged in relation to the transfer of share or security shall be deducted from the sale value of such shares or securities.]

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¹ Omitted by F. A.2015

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Mijan Niloy