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18/08/2022
Laws of Bangladesh

The Finance Act, 1981

( ACT NO. XI OF 1981 )

Amendments of Act X of 1950
6. The following amendments shall be made in the Estate Duty Act, 1950 (X of 1950), namely:-
 
 
 
 
(1) in section 25A,-
 
 
 
 
(a) in clause (3), in the proviso for the words “Ten lakh Taka” the words “Twenty lakh Taka” shall be substituted; and
 
 
 
 
(b) after clause (10) and the proviso thereto the following new clause shall be added, namely:-
 
 
 
 
“(11) Unit Certificates issued by the Investment Corporation of Bangladesh up to the value of Taka two lakh if held continuously for a period of three years by the deceased person.”; and
 
 
 
 
(2) for the Schedule the following shall be substituted, namely:-

THE SCHEDULE

 

(See section 4)

 

Rates of Estate Duty

 

1.

Where the principal value of the estate does not exceed Taka twenty lakh.

  5 per  cent.

2.

Where the principal value of the estate exceeds Taka twenty lakh but does not exceed Taka thirty lakh.

Taka 1,00,000 plus 10 per cent of the amount exceeding Taka twenty lakh.  

3.

Where the principal value of the estate exceeds Taka thitry lakh but does not exceed Taka forty lakh.

Taka 2,00,000 plus 15 per cent of the amount exceeding Taka thirty lakh.

4.

Where the principal value of the estate exceeds Taka forty lakh but does not exceed Taka fifty lakh.

Taka 3,50,000 plus 20 per cent of the amount exceeding Taka forty lakh.

5.

Where the principal value of the estate exceeds Taka fifty lakh.

Taka 5,50,000 plus 25 per cent of the amount exceeding Taka fifty lakh.”.


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