THE INCOME TAX ORDINANCE, 1984. ( PART 3 )

CHAPTER IV

CHARGE OF INCOME TAX

  1. Charge of income tax.- (1) Where an Act of Parliament provides that income tax shall be charged for any assessment year at any rate or rates, income tax at that rate or those rates shall, subject to the provisions of that Act, be charged, levied, paid and collected in accordance with the provisions of this Ordinance in respect of the total income of the income year or income years, as the case may be, of every person :

Provided that where under the provisions of this Ordinance income tax is to be charged in respect of the income of a period other than the income year, income tax shall be charged, levied, paid and collected accordingly.

  • Where under the provisions of this Ordinance income-tax is to be deducted at source, or paid or collected in advance, it shall be deducted, paid and collected accordingly.
  • Notwithstanding anything contained in sub-section (1), income-tax shall be charged at the rates specified in the Second Schedule in respect of –
  • a non-resident person, not being a company;
  • any income classifiable under the head “Capital gains”; and
  • any income by way of “winnings” referred to in section 19 (13).

1[16A. Charge of surcharge.- (1) Where any Act of Parliament enacts that a surcharge on income shall be charged for any assessment year at any rate or rates, such surcharge at that rate or those rates shall be charged for that year in respect of the total income of the income year or the income years, as the case may be, of every person.

(2) All the provisions of this Ordinance relating to charge, assessment, deduction at source, payment in advance, collection, recovery and refund of income tax shall, so far as may be, apply to the charge, assessment, deduction at source, payment in advance, collection, recovery and refund of the surcharge.]

1 Ins. by F.A. 1988 1[16B. Charge of additional tax.- Notwithstanding anything contained in any other provision of this Ordinance, where-

  • a public limited company, not being a banking or insurance company, listed with any stock exchange in Bangladesh, has not issued, declared or distributed dividend or bonus share equivalent to at least fifteen per cent (15%) of its paid up capital to its shareholders within a period of six months immediately following any income year, the company shall be charged additional tax at the rate of five per cent (5%) on the undistributed profit in addition to tax payable under this Ordinance; or
  • any person employs or allows, without prior approval of the Board of Investment or any competent authority of the Government, as the case may be, any individual not being a Bangladeshi citizen to work at his business or profession at any time during the income year, such person shall be charged additional tax at the rate of fifty per cent (50%) of the tax payable on his income or taka five lakh, whichever is higher in addition to tax payable under this Ordinance.

Explanation.- For the purpose of clause (a), “undistributed profit” means accumulated profit including free reserve.]

2[16C. Charge of excess profit tax.- Where a banking company operating under ertSK CKNbfbt AtBb, 1991 (1991 mtji 18 bs AtBb) shows profit in its return of income for an income year at an amount exceeding fifty per cent of its capital as defined under the said Act together with reserve, the company, in addition to tax payable under the Ordinance, shall pay an excess profit tax for that year at the rate of fifteen per cent on so much of profit as it exceeds fifty per cent of the aggregate sum of the capital and reserve as aforesaid.]

3[(16CC.)***]

4[16CCC. Charge of minimum tax.- Notwithstanding anything contained in any other provisions of this Ordinance, 5[every firm having gross receipts of more than taka fifty lakh or every company] shall, irrespective of its profits or loss in an assessment year for any reason whatsoever, including the sustaining of a loss, the setting off of a loss of earlier year or years or the claiming of allowances or deductions (including depreciation) allowed under this Ordinance, be liable to pay minimum tax at the rate of 6[zero point three zero

  • by F.A 2015
  • Sec 16C by F.A 2002
  • Sec. 16CC by F.A. 2006 and subsequently omitted by F.A. 2008
  • by F.A. 2011

Subs. for ” every company” by F.A.2013.

6 Subs. by F.A. 2014

(0.30%)] per cent of the amount ‘[representing such firm’s or company’s] gross receipts from all sources for that year[1][:

Provided that such rate of tax shall be zero point one zero per cent (0.10%) of such receipts for an industrial undertaking engaged in manufacturing of goods for the first three income years since commencement of its commercial production.]

Explanation: For the purposes of this section, ‘gross receipts’ means-

  • all receipts derived from the sale of goods;
  • all fees or charges for rendering services or giving benefits including commissions or discounts;
  • all receipts derived from any heads of income.]

3[(16D.)***]

4[16E)***]

  1. Scope of the total income.- (1) Subject to the provisions of this Ordinance, the total income of any income year of any person includes-
  • in relation to a person who is a resident, all income, from whatever source derived, which-
  • is received or deemed to be received in Bangladesh by or on behalf of such person in such year; or
  • accrues or arises, or is deemed to accrue or arise to him in Bangladesh during that year; or
  • accrues or arises to him outside Bangladesh during that year; and
  • Subs for “representing such company’s” by F.A. 2013
  • by F.A 2015
  • by F.A. 2003 and subsequently omitted by F.A. 2005
  • 16E by F.A. 2010 and Omitted by F.A. 2013
  • in relation to a person who is a non-resident, all income from whatever source derived, which-
  • is received or deemed to be received in Bangladesh by or on behalf of such person in such year; or
  • accrues or arises, or is deemed to accrue or arise, to him in Bangladesh during that year.
  • Notwithstanding anything contained in sub-section (1), where any amount consisting of either the whole or a part of any income of a person has been included in his total income on the basis that it has accrued or arisen, or is deemed to have accrued or arisen, to him in any year, it shall not be included again in his total income on the ground that it is received or deemed to be received by him in Bangladesh in another year.
  1. Income deemed to accrue or arise in Bangladesh.- The following income shall be deemed to accrue or arise in Bangladesh, namely:-
  • any income which falls under the head “Salaries”, wherever paid if-
  • it is earned in Bangladesh; or
  • it is paid by the Government or a local authority in Bangladesh to a citizen of Bangladesh in the service of such Government or authority; 2
  • any dividend paid outside Bangladesh by a Bangladeshi company;
  • any income by way of interest payable-
  • by the Government; or
  • by a person who is a resident, except where the interest is payable in respect of any debt incurred, or moneys borrowed and used, for the purposes of a business or profession carried on by such person outside Bangladesh or for the purpose of making or earning any income from any source outside Bangladesh; or
  • by a person who is a non-resident where the interest is in respect of any debt incurred, or moneys borrowed and used for the purposes of a business or profession carried on by such person in Bangladesh or for the purposes of making or earning any income from any source in Bangladesh;
  • any income by way of fees for technical services payable-
  • by the Government; or
  • by a person who is a resident, except where such fees are payable in respect of services utilised in a business or profession carried on by any such person outside Bangladesh or for the purposes of making or earning any income from any source outside Bangladesh; or
  • by a person who is non-resident where such fees are payable in respect of services utilised in a business or profession carried on by such person in Bangladesh or for the purposes of making or earning any income from any source in Bangladesh.
  • any income by way of royalty payable-
  • by the Government; or
  • by a person who is a resident, except where the royalty is payable in respect of any right, property or information used or services utilized for the purposes of a business or profession carried on by such person outside Bangladesh or for the purposes of making or earning any income from any source outside Bangladesh; or
  • by a person who is a non-resident where the royalty is payable in respect of any right, property or information used or services utilized for the purposes of a business or profession carried on by such person in Bangladesh or for the purposes of making or earning any income from any source in Bangladesh.
  1. Un-explained investments, etc., deemed to be income.- (1) 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”.
  • Where, in any income year, the Assessee has made investments or is found to be the owner of any bullion, jewellery or other valuable article and the Deputy Commissioner of Taxes finds that the amount expended on making such investments or in acquiring such bullion, jewellery or other valuable article exceeds the amount recorded in this behalf in the books of account maintained by the Assessee for any source of income and the Assessee offers no explanation about the excess amount or the explanation offered is not, in the opinion of the Deputy Commissioner of Taxes, satisfactory, the excess amount shall be deemed to be the income of the Assessee for such income year classifiable under the head “Income from other sources”.
  • Where, in any income year, the Assessee has incurred any expenditure and he offers no explanation about the nature and source of the money for such expenditure, or the explanation offered is not in the opinion of the Deputy Commissioner of Taxes, satisfactory, the amount of the expenditure shall be deemed to be the income of the Assessee for such income year classifiable under the head “Income from other sources”.
  • Where, in the financial year immediately preceding the assessment year, the Assessee has made investments which are not recorded in the books of account, if any, maintained by him for any source of income, and the Assessee offers no explanation about the nature and source of fund for the investments, or the explanation offered is not, in the opinion of the Deputy Commissioner of Taxes, satisfactory, the value of the investments shall be deemed to be the income of the Assessee for such financial year classifiable under the head “Income from other sources”.
  • Where, in the financial year immediately preceding the assessment year, the Assessee is found to be the owner of any money, bullion, jewellery or other valuable article which is not recorded in the books of account, if any, maintained by him for any source of income, and the Assessee offers no explanation about the nature and source of fund for the acquisition of the money, bullion, jewellery or other valuable article, or the explanation offered is not, in the opinion of the Deputy Commissioner of Taxes, satisfactory, the money or the value of the bullion, jewellery or other valuable article, shall be deemed to be the income of the Assessee for such financial year classifiable under the head “Income from other sources”.
  • Any income derived by an Assessee in any income year (hereinafter in this sub-section referred to as the said income year) from any business or profession, which has been or was, discontinued at any time before the commencement, or during the course, of the said income year shall, if such income would have been chargeable to tax if it had been received in the income year in which it accrued or arose, be deemed to be income chargeable to tax from such business or profession which shall, for the purposes of this Ordinance, be deemed to have been carried on before the commencement, or during the course, of the said income year.
  • Any dividend declared or distributed by a company shall be deemed to be the income of the 1 [income year in which it is received] and shall be included in the total income of the Assessee of that year.
  • Where any assets, not being stock-in-trade or stocks, and shares, are purchased by an Assessee from any company and the Deputy Commissioner of Taxes has reason to believe that the price paid by the Assessee is less than the fair market value thereof, the difference between the price so paid and the fair market value shall be deemed to be income of the Assessee classifiable under the head “Income from other sources”.
  • Where any lump sum amount is received or receivable by an Assessee during any income year on account of salami or premia receipts by virtue of any lease, such amount shall be deemed to be income of the Assessee of the income year in which it is received and classifiable under the head “Income from other sources”:

Provided that at the option of the Assessee such amount may be allocated for the purpose of assessment proportionately to the years covered by the entire lease period, but such allocation shall in no case exceed five years.

Subs. for “income year in which it is declared” by F.O. 2007

  • Where any amount is received by an Assessee during any income year by way of goodwill money or receipt in the nature of compensation or damages for cancellation or termination of contracts and licenses by the Government or any person, such amount shall be deemed to be the income of such Assessee for that income year classifiable under the head “Income from other sources”.
  • Where any benefit or advantage, whether convertible into money or not, is derived by an Assessee during any income year on account of cancellation of indebtedness [2][***], the money value of such advantage or benefit shall be deemed to be his income for that income year classifiable under the head “Income from other sources”:

2[Provided that the provisions of this sub-section shall not apply in case of a loan or interest waived in respect of an Assessee by a commercial bank including Bangladesh Krishi Bank, Rajshahi Krishi Unnyan Bank, 3[Bangladesh Development Bank Ltd]. or a leasing company or a financial institution registered under Wlf_K cZ&tb ABb,1993 (1993 mtb$21 bs ABb)];

  • Any managing agency commission including compensation received during any income year by an Assessee for termination of agencies or any modification of the terms and conditions relating thereto shall be deemed to be his income for that income year classifiable under the head “Income from other sources”.
  • Any amount received by an Assessee during any income year by way of winnings from lotteries, crossword puzzles, card games and other games of any sort or from gambling or betting in any form or of any nature whatsoever shall be deemed to be his income for that income year classifiable under the head “Income from other sources”.
  • Any profits and gains derived in any income year from any business of insurance carried on by a mutual insurance association computed in accordance with the provisions of paragraph 8 of the fourth schedule shall be deemed to be the income of such association for that income year.
  • Where, for the purpose of computation of income of an Assessee under section 28, any deduction has been made for any year in respect of any loss, bad debt, expenditure or trading liability incurred by the Assessee, and- [3] [4] [5]
  • subsequently, during any income year, the Assessee has received, ‘[except as provided in clause (aa)] whether in cash or in any other manner whatsoever, any amount in respect of such loss, bad debt, or expenditure, the amount so received shall be deemed to be his income from business or profession during that income year;

2[(aa) such amount on account of any interest which was to have been paid to any commercial bank or the 3[Bangladesh Development Bank] or on account of any share of profit which was to have been paid to any bank run on Islamic principles and which was allowed as a deduction in respect of such expenditure though such interest or share of profit was not paid by reason of the Assessee having maintained his accounts on mercantile basis, within 4[three years] after expiry of the income year in which it was allowed, shall, to such extent as it remains unpaid, be deemed to be income of the Assessee from business or profession during the income year immediately following the expiry of the said 4[three years;]

  • the Assessee has derived, during any income year, some benefit in respect of such trading liability, the value of such benefit, if it has not already been treated as income under clause (c), shall be deemed to be his income from business or profession during that income year;
  • such trading liability or portion thereof as has not been paid within three years of the expiration of the income year in which deduction was made in respect of the liability, such liability or portion, as the case may be, shall be deemed to be the income of the Assessee from business or profession during the income year immediately following the expiry of the said three years;

and the business or profession in respect of which such allowance or deduction was made shall, for the purposes of section 28, be deemed to be carried on by the Assessee in that year:

5[Provided that where any interest or share of profit referred to in clause (aa) or a trading liability referred to in clause (c) is paid in a subsequent year, the amount so paid shall be deducted in computing the income in respect of that year.] 1

  • Where any building, machinery or plant having been used by an Assessee for purpose of any business or profession carried on by him is disposed of during any income year and the sale proceeds thereof exceeds the written down value, so much of the excess as does not exceed the difference between the original cost and the written down value shall be deemed to be the income of the Assessee for that income year classifiable under the head “Income from business or profession”.
  • Where any machinery or plant exclusively used by an Assessee for agricultural purposes has been disposed of in any income year and the sale proceeds thereof exceeds the written down value, so much of the excess as does not exceed the difference between the original cost and the written down value shall be deemed to be the income of the Assessee for that income year classifiable under the head “Agricultural income”.
  • Where any insurance, salvage or compensation moneys are received in any income year in respect of any building, machinery or plant which having been used by the Assessee for the purpose of business or profession is discarded, demolished or destroyed and the amount of such moneys exceed the written down value of such building, machinery or plant, so much of the excess as does not exceed the difference between the original cost and the written down value less the scrap value shall be deemed to be the income of the Assessee for that income year classifiable under the head “Income from business or profession”.
  • Where any insurance, salvage or compensation moneys are received in any income year in respect of any machinery or plant which having been used by the Assessee exclusively for agricultural purpose is discarded, demolished or destroyed and the amount of such moneys exceed the written down value of such machinery or plant, so much of the excess as does not exceed the difference between the original cost and the written down value less the scrap value shall be deemed to be the income of the Assessee for that income year classifiable under the head “Agricultural income”.
  • Where an asset representing expenditure of a capital nature on scientific research within the meaning of section 29 (1) (xx) is disposed of during any income year, so much of the sale proceeds as does not exceed the amount of the expenditure allowed under the said clause shall be deemed to be the income of the Assessee for that income year classifiable under the head “Income from business or profession”.

Explanation 1.- For the purposes of this sub-section and sub-sections (16) and (17), “sale proceeds” shall have the same meaning as in the Third Schedule.

Explanation 2.- For the purposes of this sub-section and sub-sections (16) and (18), the business or profession in which the building, machinery, plant or assets, as the case may be, was used before its disposal, shall be deemed to be carried on by the Assessee during the income year in which such disposal takes place.

:[(21) Where any sum, or aggregate of sums [6] [7][not exceeding taka five lakh] is claimed or shown to have been received as loan by an Assessee [8][, not being a company] during any income year from any person, not being a banking company or a financial institution, otherwise than by a crossed cheque drawn on a bank [9][or bank transfer], and has not been paid back in full within [10] [11] [12][three years] from the end of the income year in which it is claimed or shown to have been received, the said sum or part thereof which has not been paid back, shall be deemed to be the income of the Assessee for the income year immediately following the expiry of the said 5[three years] and be classifiable under the head “Income from other sources”:

Provided that where the loan referred to in this sub-section is paid back in a subsequent income year, the amount so paid shall be deducted in computing the income in respect of that subsequent year.]

6[(21A) Where any sum is claimed to have been received by an Assessee as loan or gift during any income year from a person who has transferred the sum within the period of limitation stipulated in the rule made under this Ordinance, from the initial capital of his business or profession shown in his return filed under section 83A, the amount of such loan or gift so received by the Assessee shall be deemed to be his income of the year in which such loan or gift was received and shall be classifiable under the head “income from other sources.”]

7[(21B) Where any sum, shown as initial capital of business or profession in return of income filed under section 82BB, is [13][transferred by a person partly or fully from that business or profession within the period of limitation] stipulated in the said section, the sum so transferred shall be deemed to be his income of the year in which such sum was transferred and shall be classifiable under the head “Income from other sources”.;]

‘[(22) Where an Assessee, being the owner of a house property, receives from any person to whom such house property or any part thereof is let out any amount which is not adjustable against the rent payable, the amount so received shall be deemed to be the income of the Assessee for the income year in which it is received and be classifiable under the head “Income from house property”:

Provided that at the option of the Assessee such amount may be allocated, for the purpose of assessment in equal proportion to the year in which such amount is received and the four years next following:

Provided further that where such amount or part thereof is refunded by the Assessee in a subsequent income year the amount so refunded shall be deducted in computing the income of the Assessee in respect of that income year.]

2[(23) Where during any income year an Assessee, being an exporter of garments, transfers to any person, the export quota or any part thereof allotted to him by the Government, such portion of the export value of the garments exportable against the quota so transferred as may be prescribed for this purpose shall be deemed to be the income of the Assessee for that income year, classifiable under the head “Income from business or profession”.]

3[(24) Where a company, not listed with any stock exchange, receives paid up capital from any shareholder during any income year in any other mode excepting by crossed cheque or bank transfer, the amount so received as paid up capital shall be deemed to be the income of such company for that income year and be classifiable under the head “Income from other sources”.;]

4[(25)***] [14] [15] [16] [17]

  • [(26)Where an Assessee, being a company, receives any amount as loan 2[from any other person] otherwise than by a crossed cheque or by bank transfer, the amount so received shall be deemed to be the income of such Assessee for that income year in which such loan was taken and shall be classifiable under the head “Income from other sources”3[:

Provided that where the loan or part thereof referred to in this sub-section is repaid in a subsequent income year, the amount so repaid shall be deducted in computing the income for that subsequent year.]

(27)Where an Assessee, being a company, purchases directly or on hire one or more motor car or jeep and value of any motor car or jeep exceeds ten percent of its 4[paid up capital together with reserve and accumulated profit], then fifty percent of the amount that exceeds such ten percent of the 5[paid up capital together with reserve and accumulated profit] shall be deemed to be the income of such Assessee for that income year classifiable under the head “Income from other sources”.]

6 [(28) Where an Assessee, being an individual, receives any sum or aggregate of sums exceeding taka five lakh as loan or gift from any other person otherwise than by a crossed cheque or by bank transfer, the amount so received shall be deemed to be the income of such Assessee for that income year in which such loan or gift was taken and shall be classifiable under the head ” Income from other sources”.] n

[(29) 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 building or house property or its unit and fails to pay the sum or any part thereof representing the liability in respect of such purchase, the sum or any part thereof, which has not been paid in the following year in which such purchase was made, shall be deemed to be the income of the assessee for that income year classifiable under the head “Income from other sources”.

(30) Where an assessee, in the course of any proceedings under this Ordinance, is found to have any sum or part thereof allowed or deducted but not spent in accordance with the provision of clause (h) of sub-section (1) of section 25 of this Ordinance, such unspent sum or

  • sub-sections (26) and (27) by F.A. 2011
  • Subs for “from any other company” by F.A. 2012

3

Ins by F.A. 2014

  • by F.A. 2015
  • by F.A. 2015
  • sub-section (28) by F.A. 2012
  • sub-sections (29),(30) and (31) by F.A. 2015

part thereof shall be deemed to be the income of such assessee for that income year classifiable under the head “Income from house property”.

(31) Where an assessee files a revised return under sections 78 or 93 and shows tax exempted income or income that is subject to reduced tax rate, so much of the excess as it exceeds the amount shows in the original return shall be deemed to be income for that income year classifiable under the head “Income from other sources”.]

1[(19A.)***]

  • [(19AA.)***]
  • [(19AAA.)***]
  • [(19B.)***]
  • [(19BB.)***]
  • [(19BBB.)***]
  • [(19BBBB.)***] [18] [19] [20] [21]

1[19BBBBB. Special tax treatment in respect of investment in residential building and apartment.- (1) Notwithstanding anything contained in this Ordinance, source of any sum invested by any person, in the construction or purchase of any residential building or apartment, shall be deemed to have been explained if the Assessee pays, before the assessment for the relevant assessment year in which the investment is completed, tax at the following rate –

  • for building or apartment situated in the area of Gulshan Model Town, Banani, Baridhara, Motijheel Commercial Area and Dilkusha Commercial Area of Dhaka-
  • taka five thousand per square meter in the case of a building or apartment the plinth area of which does not exceed two hundred square meter;
  • taka seven thousand per square meter in the case of a building or apartment the plinth area of which exceeds two hundred square meter;
  • for building or apartment situated in the area of Dhanmandi Residential Area, Defence Officers Housing Society (DOHS), Mahakhali, Lalmatia Housing Society, Uttara Model Town, Bashundhara Residential Area, Dhaka Cantonment, Kawran Bazar, Bijaynagar, Segunbagicha, Nikunja of Dhaka, and Panchlaish, Khulshi, Agrabad and Nasirabad Area of Chittagong-
  • taka four thousand per square meter in the case of a building or apartment the plinth area of which does not exceed two hundred square meter;
  • taka five thousand per square meter in the case of a building or apartment the plinth area of which exceeds two hundred square meter;
  • for building or apartment situated in the area of any City Corporation other than areas mentioned in clauses (a) or (b)-
  • taka two thousand per square meter in the case of a building or apartment the plinth area of which does not exceed two hundred square meter;
  • taka three thousand per square meter in the case of a building or apartment the plinth area of which exceeds two hundred square meter;
  • for building or apartment situated in the area of a Paurasabha of any district headquarters-

(i) 2[taka six hundred] per square meter in the case of a building or apartment the plinth area of which does not exceed two hundred square meter; [22] [23]

(ii) [24] [taka eight hundred] per square meter in the case of a building or apartment the plinth area of which exceeds two hundred square meter;

  • for building or apartment situated in the area other than the areas

mentioned in clauses (a) to (d)-

  • [25][taka four hundred] per square meter in the case of a building or apartment the plinth area of which does not exceed two hundred square meter;
  • [26][taka six hundred] per square meter in the case of a building or apartment the plinth area of which exceeds two hundred square meter.
  • The rate of tax mentioned in sub-section (1) shall be twenty per cent higher in case where the Assessee already owns a building or apartment in any City Corporation before such investment is completed; or the Assessee makes such investment in two or more buildings or apartments.
  • The provision of this section shall not apply where the source of such investment, made by the Assessee for the purchase or construction of such residential building or apartment, is-
  • derived from any criminal activities under any other law for the time being in force; or
  • not derived from any legitimate source.]

1[19C. Special tax treatment in respect of investment in the purchase of bond under Bangladesh Infrastructure Finance                                         Fund.-Notwithstanding

anything contained in any other provision of this Ordinance, no question as to the source of any sum invested by any person in the purchase of bond issued or caused to be issued under Bangladesh Infrastructure Finance Fund during the period between the first day of July, 2010 and thirtieth day of June, 2012 (both days inclusive), shall be raised if the Assessee pays, before the filing of return of income for the relevant income year, tax at the rate of ten per cent on such sum invested.]

2[19D***].

3[19E. Voluntary disclosure of income.- (1) Notwithstanding anything contained in this Ordinance, any person-

  • who has not been assessed to tax for previous assessment year or years and he has not submitted return of income for those year or years may disclose such income in the respective heads of income in the return of income along with the income for the current assessment year; or
  • who has been assessed to tax for previous assessment year or years and any income has escaped assessment in those assessments or the amount of income assessed is less than the actual income, may disclose that income for respective heads of income in the return of income along with the income for the current assessment year. [27] [28] [29]
  • Return of income mentioned in sub-section (1) shall be treated as valid, if-
  • the Assessee pays before the submission of return-
  • tax payable at applicable rate on total income including such income under respective heads of income; and
  • penalty at the rate of ten percent of tax proportionate to such income under respective heads of income;
  • the return of income is submitted within the time specified in sub­section (2) of section 75; and
  • a declaration is enclosed with the return of income in respect of the following:
  • name of the person declaring;
  • head of the declared income and amount thereof; and
  • amount of tax and penalty paid thereof.
  • The provision of this section shall not apply, where-
  • a notice under clause (b) of sub-section (3) of section 93 has been issued before submission of such return of income;
  • a notice on a banking company under clause (f) of section 113 has been issued before submission of such return of income;
  • any proceeding under sections 164, 165 or 166 has been initiated before submission of such return of income; :[**]
  • Any income declared under this section is-
  • not derived from any legitimate source of income ; or
  • derived from any criminal activities under any other law for the time being in force 2[; or
  • any income declared under this section which is –

(i) exempted from tax in the concerned income year; or [30]

[1]    any income accruing or arising, whether directly or indirectly, through or from-

  • any business connection in Bangladesh;
  • any property, asset, right or other source of income in Bangladesh; or
  • transfer of capital assets in Bangladesh:

Provided that in the case of a business all the operations of which are not carried out in Bangladesh, only such part of the income as is reasonably attributable to the operation carried out in Bangladesh shall be deemed to accrue or arise in Bangladesh;

[2] Ins. by F.A. 1991

  • by F.A. 1991
  • by F.A. 2014

A

Subs. for “twoyears” by F.A. 1999 5 Subs. by F.A. 2003

[3]  Omitted by F.A. 1999

[4]  Subs. by F.A. 2003

[5]  Subs. by F.A. 2014

[6] Ins. sub-sec. (21) by F.A. 1993

[7] Subs. for “exceeding taka one lakh” by F.A. 2012

[8]

  • Ins by F.A. 2012.

[9] Ins. by F.A 2015

[10]          Subs. for “two years ” by F.A. 1999

[11]          Ins. by F.A. 2002.

[12]          Ins. by F.A. 2011.

[13] Subs. for “transferred by A person partly or fully within the period oflimitation ” by FA. 2012

[14]                     Ins by Sub-sec.(22) by F.A. 1993

[15]          Ins. Sub-sec. (23) by F.A. 1993

[16] Subs. by F.A. 2012

[17] Omitted by F.O. 2007

[18]          Subs. by F.A. 2009 and subsequently omitted by F.A. 2010

[19]          Subs. by F.A. 2009 and subsequently omitted by F.A. 2010

[20]

Subs. by F.A. 2009 and subsequently omitted by F.A. 2010

[21]

Section 19B inserted by F.A. 1999 and subsequently omitted by F.O. 2007 Section 19BB inserted by F.A. 2002 and subsequently omitted by F.O. 2007 Section 19BBB inserted by F.A. 2004 and subsequently omitted by F.O. 2007

Section 19BBBB Ins. by F.A. 2009 and subsequently omitted by F.A. 2010

[22]          Ins. sec 19BBBBB by F.A. 2013

[23]          Subs. for “taka one thousand” by F.A. 2015

[24]          Subs. for “taka one thousand and five hundred ” by F.A. 2015

[25]          Subs. for “taka seven hundred ” by F.A. 2015

[26]          Subs. for “taka one thousand ” by F.A. 2015

[27]                   Ins. section 19C by F.A. 2010

[28]                   Ins. section 19D by F.A. 2011 and omitted by F.A. 2014

[29]                   Ins. new section 19E by F.A. 2012

[30]          Omitted by F.A 2015

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