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The Finance Act, 1973

( ACT NO. XI OF 1973 )

[ 30th June, 1973 ]

Amendment of the Finance Act, 1966 (E. P. III of 1966)
20. In the Finance Act, 1966 (E.P. III of 1966), in section 5, for sub-section (3) the following shall be substituted, namely:-
 
 
 
 
“(3) the tax shall be levied according to the scale specified below:-

Amount of capital gain

Rate of tax

For the first Taka 3,000          ..            ..

Nil

For the next Taka 7,000          ..            ..

10%

For the next Taka 10,000        ..            ..

15%

For the next Taka 20,000        ..            ..

20%

For the next Taka 30,000        ..            ..

30%

For the next Taka 30,000        ..            ..

45%

For the balance                        ..            ..

60%
   

     Provided that there shall be a rebate according to the holding period of the property as indicated below:-
   

(i)    If the holding period does not exceed 5 years         ..

Nil

(ii)   If the holding period exceeds 5 years but does exceed 15 years.

15% of the tax payable;

(iii)  If the holding period exceeds 15 years          ..

30% of the tax payable:
   
      Provided further that where investment in the property is spread over in different periods the rebate under clauses (ii) and (iii) of the first proviso shall be allowed proportionately as prescribed in the rules.”
   

 

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