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THE INCOME-TAX ORDINANCE, 1984

(ORDINANCE NO. XXXVI OF 1984).
  Part No : Chapter No : Section No: [ 4th June, 1984  
  
     An Ordinance to consolidate and amend the law relating to Income-tax.
 
    WHEREAS it is expedient to consolidate and amend the law relating to income-tax;



NOW, THEREFORE, in pursuance of the Proclamation of the 24th March, 1982, and in exercise of all powers enabling him in this behalf, the President is pleased to make and promulgate the following Ordinance:-
 
CONTENTS
 
SECTIONS
 
CHAPTER I
PRELIMINARY
1. Short title and commencement
2. Definitions
CHAPTER II
ADMINISTRATION
3. Income-tax authorities
4. Appointment of income-tax authorities
4A. Delegation of powers
5. Subordination and control of income-tax authorities
6. Jurisdiction of income-tax authorities
7. Exercise of jurisdiction by successor
8. Officers, etc. to follow instructions of the Board
9. Guidance to the Deputy Commissioner of Taxes, etc.
10. Exercise of assessment functions by the Inspecting Joint Commissioners [and the Inspecting Additional Commissioners]
CHAPTER III
TAXES APPELLATE TRIBUNAL
11. Establishment of Appellate Tribunal
12. Exercise of power of the Tribunal by Benches
13. Decision of Bench
14. Exercise of power by one member
15. Regulation of procedure
CHAPTER IV
CHARGE OF INCOME TAX
16. Charge of income-tax
16A. Charge of surcharge
16B. Charge of additional tax
16C. Charge of excess profit tax
16CC. [Omitted]
16D. [Omitted]
16CCC. Charge of minimum tax
16E. [Omited]
17. Scope of the total income
18. Income deemed to accrue or arise in Bangladesh
19. Un-explained investments, etc., deemed to be income
19A. [Omitted]
19AA. [Omitted]
19AAA. [Omitted]
19B [Omitted]
19BB [Omitted]
19BBB [Omitted]
19BBBBB. Special tax treatment in respect of investment residential building and apartment.
19C. Special tax treatment in respect of investment in the purchase of bond under Bangladesh Infrastructure Finance Fund
19D. Special tax treatment in respect of investment in the purchase of Bangladesh Government Treasury Bond.
19E. Voluntary disclosure of income.
CHAPTER V
COMPUTATION OF INCOME
20. Heads of income
21. Salaries
22. Interest on securities
23. Deductions from interest on securities
24. Income from house property
25. Deductions from income from house property
26. Agricultural income
27. Deductions from agricultural income
28. Income from business or profession
29. Deductions from income from business or profession
30. Deduction not admissible in certain circumstances
30A. Provision for disallowance
31. Capital gains
32. Computation of capital gains
33. Income from other sources
34. Deductions from income from other sources
35. Method of accounting
36. Allocation of income from royalties, etc., for literary works, etc.
37. Set off of losses
38. Carry forward of business losses
39. Carry forward of loss in speculation business
40. Carry forward of loss under the head “Capital gains”
41. Carry forward of loss under the head “Agricultural income”
42. Conditions and limitations of carrying forward of loss, etc.
43. Computation of total income
CHAPTER VI
EXEMPTIONS AND ALLOWANCES
44. Exemption
45. Exemption of income of an industrial undertaking
46. Exemption of income of a tourist industry
46A. Exemption from tax of newly established industrial undertakings, etc. in certain cases
46B. Exemption from tax of newly established industrial undertakings set up between the period of July, 2011 and [June,2015],etc, in certain cases.
46C. Exemption from tax of newly established physical infrastructure facility set up between the period of July, 2011 and[June,2015], etc, in certain cases.
47. Exemption of income of co-operative societies
CHAPTER VII
PAYMENT OF TAX BEFORE ASSESSMENT
48. Deduction at source and advance payment of tax
49. Income subject to deduction at source
50. Deduction at source from salaries
50A. Deduction at source from discount on the real value of Bangladesh Bank bills
50B. Deduction of tax from payment of remuneration to Members of Parliament
51. Deduction at source from interest on securities
51A. [Omitted]
52. Deduction from payment to contractors, etc.
52A. Deduction at source from fees for professional or technical services
52AA. Deduction from the payment of certain services
52AAA. Collection of tax from clearing and forwarding agents
52B. Collection of tax from Cigarette manufacturers
52C. Deduction at source from compensation against acquisition of property
52D. Deduction at source from interest on savings instruments
52E. [Omitted]
52F. Collection of tax from brick manufacturers
52G. [Omitted]
52H. [Omitted]
52I. Deduction from the commission of letter of credit
52J. [Omitted]
52K. Collection of tax by City Corporation or Pourashava at the time of renewal of trade licence.
52L. [Omitted]
52M. Collection of tax from freight forward agency commission.
52N. Collection of tax on account of rental power.
52O. Collection of tax from a foreign technician serving in a diamond cutting industry
52P. Deduction of tax for services from convention hall, conference centre, etc.
52Q. Deduction of tax from resident for any income in connection with any service provided to any foreign person.
52R. Deduction of tax from receipts in respect of international phone call.
52S. Collection of tax from manufacturer of soft drink
53. Collection of tax from importers [***]
53A. Deduction at source from income from house property
53AA. Collection of tax from shipping business of a resident
53B. Deduction of tax from income derived on account of export of manpower
53BB. Collection of tax from export of certain items
53BBB. Collection of tax from Member of Stock Exchanges
53BBBB. Collection of tax from export of any goods except knit-wear land woven garments.
53C. Collection of tax on sale price of goods or property sold by public auction
53CC. Deduction or collection of tax at source from courier business of a non-resident
53D. Deduction from payment to actors, actresses, producers, etc.
53DD. [Omitted]
53DDD. Deduction of tax at source from export cash subsidy.
53E. Deduction or collection at source from [commission, discount or fees]
53EE. Deduction of tax from commission or remuneration paid to agent of foreign buyer
53F. Deduction at source from interest on saving deposits and fixed deposits, etc.
53FF. Collection of tax from persons engaged in real estate or land development business
53G. Deduction at source from insurance commission
53GG. Deduction at source from fees, etc. of Surveyors of general insurance company
53GGG. [Omitted]
53H. Collection of tax on transfer, etc. of property
53I. Deduction at source from interest on deposit of Post Office Savings Bank Account.
53J. Deduction at source from rental value of vacant land or plant or machinery.
53K. Deduction of tax from advertising bill of newspaper or magazine or private television channel [or private radio station].
53L. [Omited]
53M. Collection of tax from transfer of securities or mutual fund units by sponsor shareholders of a company etc.
54. Deduction of tax from dividends
55. Deduction from income from lottery, etc.
56. Deduction from income of non-residents
57. Consequences of failure to deduct, etc.
58. Certificate of deduction, etc., of tax
59. Payment to Government of tax deducted
60. Unauthorised deduction prohibited
61. Power to levy tax without prejudice to other mode of recovery
62. Credit of tax deducted or collected at source
62A. [Omitted]
63. Payment of tax where no deduction is made
64. Advance payment of tax
65. Computation of advance tax
66. Instalments of advance tax
67. Estimate of advance tax
68. Advance payment of tax by new assessees
69. Failure to pay instalments of advance tax
70. Levy of interest for failure to pay advance tax
71. Credit of advance tax
72. Interest payable by Government on excess payment of advance tax
73. Interest payable by the assessee on deficiency in payment of advance tax
74. Payment of tax on the basis of return
CHAPTER VIII
RETURN AND STATEMENT
75. Return of income
75A. Return of withholding tax.
75B. Obligation to furnish Annual Information Return.
75C. Concurrent jurisdiction.
76. Certificate in place of return
77. Notice of filing return
78. Filing of revised return
79. Production of accounts and documents
80. [Statements of assets, liabilities and life style]
CHAPTER IX
ASSESSMENT
81. Provisional assessment
82. Assessment on correct return.
82A. Assessment under simplified procedure
82B [Omitted]
82BB. Universal Self Assessment.
82C. Tax on income of certain persons
82D. Spot assessment
83. Assessment after hearing
83A[Omitted]
83AA [Omitted]
83AAA. Assessment on the basis of report of a chartered accountant
84. Best judgment assessment
84A. [Omitted]
85. Special provisions regarding assessment of firms
86. Assessment in case of change in the constitution of a firm
87. Assessment in case of constitution of new successor firm
88. Assessment in case of succession to business otherwise than on death
89. Assessment in case of discontinued business
90. Assessment in case of partition of a Hindu undivided family
91. Assessment in case of persons leaving Bangladesh
92. Assessment in the case of income of a deceased person
93. Assessment in case of income escaping assessment, etc.
94. Limitation for assessment
94A. [Omitted]
CHAPTER X
LIABILITY IN SPECIAL CASES
95. Liability of representative in certain cases
96. Persons to be treated as agent
97. Right of representative to recover tax paid
98. Liability of firm or association for unrecoverable tax due from partners or members
99. Liability of partners, etc., for discontinued business of a firm, etc.
100. Liability of directors for unrecoverable tax of private companies
101. Liability of liquidator for tax of private companies under liquidation
102. Liability to tax in case of shipping business of non-residents
103. [Omitted]
103A. Liability to tax in case of air transport business of non-residents
CHAPTER XI
SPECIAL PROVISIONS RELATING TO AVOIDANCE OF TAX
104. Avoidance of tax through transactions with non-residents
105. Avoidance of tax through transfer of assets
106. Avoidance of tax by transactions in securities
107. Tax clearance certificate required for persons leaving Bangladesh
1CHAPTER XIA
Transfer Pricing
107A. Definitions.
107B. Determination of income from international transaction having regard to arm’s length price.
107C. Computation of arm’s length price.
107D. Reference to Transfer Pricing Officer.
107E. Maintenance and keeping of information, documents and records.
107F. Report from an accountant to be furnished.
107G. Penalty for failure to keep, maintain or furnish information, documents or records to the Deputy Commissioner of Taxes.
107H. Penalty for failure to comply with the notice or requisition under section 107C.
107I. Penalty for failure to furnish report under section 107F.
107J. Applicability of this Chapter.
CHAPTER XII
REQUIREMENT OF FURNISHING CERTAIN INFORMATION
108. Information regarding payment of salary
109. Information regarding Payment of interest
110. Information regarding payment of dividend
CHAPTER XIII
[REGISTRATION OF FIRMS-Omitted]
111. [Omitted]
CHAPTER XIV
POWERS OF INCOME TAX AUTHORITIES
112. Powers under this Chapter not to prejudice other powers
113. Power to call for information
114. Power to Inspect registers of companies
115. Power of survey
116. Additional powers of enquiry and production of documents
116A. Power of giving order for not removing property
117. Power of search and seizure
117A. Power to verify deduction or collection of tax
118. Retention of seized assets
119. Application of retained assets
120. Power of Inspecting Joint Commissioner to revise orders of Deputy Commissioner of Taxes
121 [Omitted]
121A. Revisional power of Commissioner
122. Power to take evidence on oath, etc.
CHAPTER XV
IMPOSITION OF PENALTY
123. Penalty for not maintaining accounts in the prescribed manner
124. Penalty for failure to file return, etc.
124A.Penalty for using fake Tax-payer's Identification Number
125. Failure to pay advance tax, etc.
126. Penalty for non-compliance with notice
127. Failure to pay tax on the basis of return
128. Penalty for concealment of income
129. [Omitted]
130. Bar to imposition of penalty without hearing
131. Previous approval of Inspecting Joint Commissioner for imposing penalty
131A. Previous approval of the Board for imposing penalty
132. Orders of Appellate Joint Commissioner, etc., to be sent to Deputy Commissioner of Taxes
133. Penalty to be without prejudice to other liability
CHAPTER XVI
RECOVERY OF TAX
134. Tax to include penalty, interest, etc.
135. Notice of demand
136. [Omitted]
137. Penalty for default in payment of tax
138. Certificate for recovery of tax
139. Method of recovery by Tax Recovery Officer
140. Power of withdrawal of certificate and stay of proceeding
141. Validity of certificate for recovery not open to dispute
142. Recovery of tax through Collector of District
142A. Recovery of tax through Special Magistrates
143. Other modes of recovery
CHAPTER XVII
DOUBLE TAXATION RELIEF
144. Agreement to avoid double taxation
145. Relief in respect of income arising outside Bangladesh
CHAPTER XVIII
REFUNDS
146. Entitlement to refund
147. Claim of refund for deceased or disabled persons
148. Correctness of assessment, etc., not to be questioned
149. Refund on the basis of orders in appeal
150. Form of claim and limitation
151. Interest on delayed refund
152. Adjustment of refund against tax
CHAPTER XVIIIA
[SETTLEMENT OF CASES.- Omitted]
152A, 152B, 152C, 152D and 152E. [Omitted]
2CHAPTER XVIIIB
Alternative Dispute Resolution
152F. Alternative Dispute Resolution.
152G. Commencement of ADR.
152H. Definition
152I. Application for alternative resolution of disputes.
152II. Stay of proceeding in case of pending appeal or reference at Appellate Tribunal or High Court Division.
152J. Eligibility for application for ADR.
152K. Appointment of Facilitator and his duties and responsibilities.
152L. Rights and duties of the assessee for ADR.
152M. Nomination and responsibility of the Commissioner's Representative in ADR.
152N. Procedures of disposal by the Alternative Dispute Resolution.
152O. Decision of the ADR.
152P. Effect of agreement.
152Q. Limitation for appeal where agreement is not concluded.
152R. Post verification of the agreement.
152S. Bar on suit or prosecution.
CHAPTER XIX
APPEAL AND REFERENCE
153. Appeal against order of Deputy Commissioner of Taxes [and Inspecting Joint Commissioner]
154. Form of appeal and limitation
155. Procedure in appeal before the Appellate Joint Commissioner [or the Commission (Appeals)]
156. Decision in appeal by the Appellate Joint Commissioner [or the Commission (Appeals)]
157. Appeal against order of Tax Recovery Officer
158. Appeal to the Appellate Tribunal
159. Disposal of appeal by the Appellate Tribunal
160. Reference to the High Court Division
161. Decision of the High Court Division
162. Appeal to the Appellate Division
CHAPTER XX
PROTECTION OF INFORMATION
163. Statement, returns, etc., to be confidential
CHAPTER XXI
OFFENCES AND PROSECUTION
164. Punishment for non-compliance of certain obligations
165. Punishment for false statement in [verifications, etc.]
165A. Punishment for improper use of Tax-payer's Identification Number
165B. Punishment for obstructing an income tax authority.
166. Punishment for concealment of income, etc.
167. Punishment for disposal of property to prevent attachment
168. Punishment for disclosure of protected information
169. Sanction for prosecution
170. Power to compound offences
171. Trial by Special Judge
CHAPTER XXII
MISCELLANEOUS
172. Relief when salary, etc., is paid in arrear or advance
173. Correction of errors
173A. Place of assessment
174. Appearance by authorised representative
175. Tax to be calculated to nearest taka
176. Receipts to the given
177. Computation of the period of limitation
178. Service of notice
179. Certain errors not to vitiate assessment, etc.
180. Proceeding against companies under liquidation
181. Indemnity
182. Bar of suits and prosecution, etc.
183. Ordinance to have effect pending legislative provision for charge of tax
184. [Omitted]
184A. [Requirement of certificate or acknowledgment receipt of return of income in certain cases]
184AA. Tax-payer’s identification number (TIN) in certain documents, etc.
184B. Tax-payer’s identification number
184BB. Tax collection account number
184BBB. Unified Taxpayer's Identification Number (UTIN).
184BBBB. Issuance of Temporary Registration Number (TRN).
184C. Displaying of tax payer’s identification number certificate
184D. Reward to officers and employees of the Board and its subordinate income tax offices for collection and detection of evasion of taxes
184E. Assistance to income tax authorities
184F. Ordinance to override other laws.
CHAPTER XXIII
RULES AND REPEAL
185. Power to make rules
186. Repeal and savings
187. Removal of difficulties
SCHEDULE
 
 

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Ministry of Law, Justice and Parliamentary Affairs