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Bangladesh Tax Structure > Income Tax

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Tax Rebate for investment : 

Rate of Rebate: 

Amount of allowable investment is either actual investment in a year or up to 25% of total income or Tk. 10,00,000/- whichever is less. Tax rebate amounts to 10% of allowable investment. 

Types of investment qualified for the tax rebate are :- 

  • Life insurance premium , 

  • Contribution to deferred annuity , 

  • Contribution to Provident Fund to which Provident Fund Act, 1925 applies ,

  • Self contribution and employer's contribution to Recognized Provident Fund , 

  • Contribution to Super Annuation Fund , 

  • Investment in approved debenture or debenture stock, Stocks or Shares , 

  • Contribution to deposit pension scheme approved by the government, 

  • Contribution to Benevolent Fund and Group Insurance premium , 

  • Contribution to Zakat Fund , 

  • Donation to charitable hospital approved by National Board of Revenue ,

  • Donation to philanthropic or educational institution approved by the Government ,

  • Donation to socio-economic or cultural development institution established in Bangladesh by Aga Khan Development Network, 

  • Donation to ICDDR,B, Dhaka Community Hospital, 

  •  Donation to philanthropic institution- CRP, Savar, Dhaka, 

  • Donation upto five lac to (1) Shishu Swasthya Foundation Hospital Mirpur, Shishu Hospital, Jessore and Hospital for Sick Children, Satkhira run by Shishu Swasthya Foundation, Dhaka, (2) Diganta Memorial Cancer Hospital, Dhaka, (3) The ENT and Head-Neck Cancer Foundation of Bangladesh, Dhaka; and (4) Jatiya Protibandhi Unnayan Foundation, Mirpur, Dhaka; 

  • Asiatic Society of Bangladesh; 

  • Muktijudha Jadughar; 

Who should submit Income Tax Return ? 

  • If total income of any individual (other than female taxpayers, senior taxpayers of 65 years and above and retarded taxpayers) during the income year exceeds Tk 1,65,000/-. 

  • If total income of any female taxpayer, senior taxpayer of 65 years during the income year exceeds Tk 1,80,000/- 

  • If total income of any retarded taxpayer during the income year exceeds Tk 2,00,000/-. 

  • If any person was assessed for tax during any of the 3 years immediately preceding the income year. 

  • A person who lives in any city corporation/paurashava/divisional HQ/district HQ and owns a building of more than one storied and having plinth area exceeding 1,600 sq. feet/owns motor car/owns membership of a club registered under VAT Law. 

  • If any person subscribes a telephone. 

  • If any person runs a business or profession having trade license and operates a bank account.

  • Any professional registered as doctor, lawyer, income tax practitioner, Chartered Accountant, Cost & Management Accountant, Engineer, Architect and Surveyor etc. 

  • Member of a Chamber of Commerce and Industries or a trade Association. 

  • Any person who participates in a tender. 

  • A person who has a Taxpayer's Identification Number (TIN). 

  • Candidate for Union Parishad, Paurashava, City Corporation or Parliament elections.

  • Any company registered under Companies Act, 1930 or Kvvbx AvBb, 1994 

Time to Submit Income Tax Return: 

For Company 
By fifteenth day of July next following the income year or, where the fifteenth day of July falls before the expiry of six months from the end of the income year, before the expiry of such six months. 
For Other than Company 
Unless the date is extended, by the thirtieth day of September next following the income year. 

Consequences of Non-Submission of Return 

  • Imposition of penalty amounting to 10% of tax on last assessed income subject to a minimum of Tk. 1,000/- 

  • In case of a continuing default a further penalty of Tk. 50/- for every day of delay.

Assessment Procedures : 

  • For a return submitted under normal scheme, assessment is made after hearing. 

  • For returns submitted under Universal Self Assessment Scheme, the acknowledgement slip is determined to be an assessment order. Return filed under Universal Self Assessment is of course subject to audit. 

Appeal against the order of DCT : 

A taxpayer can file an appeal against DCT's order to the Commissioner (Appeals)/Additional or Joint Commissioner of Taxes (Appeals), to the Taxes Appellate Tribunal against an Appeal order and to Commissioner of Taxes of the respective taxes Zone for the revision of DCT's order. 

 

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