“19AAAA. Special Tax Treatment in respect of investment in Securities.

¹[19AAAA. Special Tax Treatment in respect of investment in Securities.—

(1) Notwithstanding anything contained in this Ordinance or any other law for the time being in force, no question as to the source of any sum invested in securities by an individual assessee during the period between the first day of July, 2021 and the thirtieth day of June, 2022 (both days inclusive) shall be raised by any authority if the assessee pays tax at the rate of twenty five persent (25%) on such investment within thirty days from the date of such investment.

(2) Along with the tax paid under sub-section (1), an amount of penalty of five percent (5%) shall be payable on the computed tax under subsection (1).

(3) In respect of such investment, tax shall only be payable by pay order or automated challan, as the case may be, and a declaration in the prescribed form shall be made and submitted to the respective Deputy Commissioner of Taxes.

(4) Where any such sum invested is withdrawn from the capital market within one year from the day of such investment, an additional amount of penalty at the rate of ten percent (10%) on such withdrawn amount shall be payable by him at the time of assessment.

(5) The Provisions of this section shall not apply to cases where any proceeding under any provision of this Ordinance or any other law has been drawn on or before the day of making such investment.

Explanation.For the purpose of this section securities mean stocks, shares, mutual fund units, bonds, debentures and other securities of the companies listed in and approved by the Bangladesh Securities and Exchange Commission and all other government securities and bonds tradable in the capital market.  

¹Ins new section 19AAAA and 19AAAAA by F.A. 2020 and subsequently subs. by F.A. 2021

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