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05/03/2024
Laws of Bangladesh

The Finance Act, 1981

( ACT NO. XI OF 1981 )

Amendments of Act XIV of 1963
9. The following amendments shall be made in the Gift Tax Act, 1963 (XIV of 1963), namely:-
 
 
 
 
(1) in section 5, in sub-section (1),-(a) in clause (ix), for the colon a semi-colon shall be substituted and thereafter the following new clause shall be added, namely:-
 
 
 
 
“(x) to his real sons, daughters, father and mother, subject to a maximum of Taka three lakh in value in the aggregate in one or more pervious years:”; and
 
 
 
 
(b) in the proviso, for the full-stop at end a colon shall be substituted and thereafter the following new proviso shall be added, namely:-
 
 
“Provided further that the value of gifts exempted under clause (x) together with the value of gifts, if any, exempted under clause (v), shall in no case exceed Taka three lakh;”; and
 
 
 
 
(2) for the Schedule the following shall be substituted, namely:-

THE SCHEDULE
(Vide section 3)

   

 

Rate of tax

 

 

1.

On the first Taka two lakh of the value of all taxable gifts.

5 per cent.

2.

On the next Taka three lakh of the value of all taxable gifts.

7 ½  per cent.

3.

On the next Taka five lakh of the value of all taxable gifts.

10 per cent.

4.

On the next Taka ten lakh of the value of all taxable gifts.

12 ½  per cent.

5.

On the next Taka fifteen lakh of the value of all taxable gifts.

15 per cent.

6.

On the balance

20 per cent.;.”


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