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Income Tax Act, 2023
Income Tax Guidelines
TDS Rules
Income Tax SRO
Paripatra
Individual Tax Rate
Company Tax Rate
Finance Act
Income Tax Act, 2023
Income Tax Guidelines
TDS Rules
Income Tax SRO
Paripatra
Individual Tax Rate
Company Tax Rate
Finance Act

Income Tax Act, 2023

According to the Finance Act, 2024, in the Income Tax Act, 2023, wherever the terms "financial institution," "to financial institution," "in financial institution," and "of financial institution" are mentioned, these terms shall be replaced with "finance company," "to finance company," "in finance company," and "of finance company," respectively.

According to the Finance Act, 2024, in the Income Tax Act, 2023, wherever the term "{Customs Act, 1969 (Act No. IV of 1969)}" is mentioned, it shall be replaced with "{Customs Act, 2023 (Act No. 57 of 2023)}."
  • 1 ) Short Title and commencement
  • 2 ) Definitions
  • 3 ) Precedence of law
  • 4 ) Income tax authorities
  • 5 ) Appointment of Income Tax Authorities
  • 6 ) Delegation of powers
  • 7 ) Subordination and control of income tax authorities
  • 8 ) Duties and functions and jurisdiction of tax authorities
  • 9 ) Exercise of authority by successor
  • 10 ) Following the directions of the Board
  • 11 ) Guidance to the Deputy Commissioner of Taxes
  • 12 ) Exercise of powers of Inspecting Additional Commissioner of Taxes in charge of assessment proceeding
  • 13 ) Establishment of Taxes Appellate Tribunal.
  • 14 ) Exercise of power of the Tribunal by the
  • 15 ) Decision of the Bench
  • 16 ) Exercise of power by a member
  • 17 ) Control of Proceedings
  • 18 ) Charge of income tax
  • 19 ) Charge of additional tax
  • 20 ) Charge of tax on the difference of import, export or Investment
  • 21 ) Penalty on foreign property not disclosed in the return
  • 22 ) Charge of tax on retained earnings, reserves, surplus etc.
  • 23 ) Charge of tax on Stock Dividend
  • 24 ) Self-motivated display of investment or income by paying special taxes, etc
  • 25 ) Special provisions for computation of taxes
  • 26 ) Scope of total income
  • 27 ) Income deemed to accrue or arise in Bangladesh
  • 28 ) Same income not to be included twice under total income
  • 29 ) Computation of total income
  • 30 ) Heads of income
  • 31 ) Consolidation of income
  • 32 ) Income from Employment
  • 33 ) Valuation of perquisites, allowances and benefits
  • 34 ) Determination of income derived from Employee Share Scheme
  • 35 ) Definitions
  • 36 ) Income from rent
  • 37 ) Computation of total rental value
  • 38 ) Allowable deductions in computing rental income
  • 39 ) Limitations of expenditure approval
  • 40 ) Income from agriculture
  • 41 ) Special income from agriculture
  • 42 ) Deduction from agricultural income
  • 43 ) Computation of special deduction in case of non-maintenance of books accounts
  • 44 ) Deduction will not be allowed in certain circumstances
  • 45 ) Income from business
  • 46 ) Computation of income from business
  • 47 ) Calculation of profit in some business
  • 48 ) Speculation business considered separately
  • 49 ) General deduction allowable in computing income from business
  • 50 ) Special deduction allowable in computing income from business
  • 51 ) Approval of bad debit expenditure
  • 52 ) Computation of special deduction of interest or profit
  • 53 ) Special limits on approval of interest
  • 54 ) General terms of approval of deductions
  • 55 ) Deductions not permissible in certain circumstances
  • 56 ) Computation of special business income
  • 57 ) Capital gains
  • 58 ) Computations of capital gains
  • 59 ) Computation time
  • 60 ) Limitation of allowable deductions
  • 61 ) Other factors in determination of capital gains
  • 62 ) Income from financial assets
  • 63 ) Time for computation of income
  • 64 ) Allowable expenditure in computing income from financial assets
  • 65 ) Deductions not permissible in certain cases
  • 66 ) Income from other sources
  • 67 ) Special areas of income from other sources
  • 68 ) Allowable deductions in computing income from other sources
  • 69 ) Deductions and allowed in certain cases
  • 70 ) Adjustment and carry forward of losses
  • 71 ) Carry forward of depreciation allowance
  • 72 ) Accounting method
  • 73 ) Filling of audited financial reports by computing, etc.
  • 74 ) Accounting method in case of long term contracts
  • 75 ) Incomplete or incorrect accounts, etc.
  • 76 ) Exemption from tax
  • 77 ) Exclusion from total income
  • 78 ) General tax relief in respect of certain investments and expenditure
  • 79 ) Exemption of certain incomes of co-operative societies
  • 80 ) Averaging
  • 81 ) Income of approved tax holiday entity
  • 82 ) Approval of tax-holiday entity by the Board
  • 83 ) Transaction with associated entities
  • 84 ) Computation of income of approved tax-exempted entity
  • 85 ) Cancellation or disallowance of tax exemption
  • 86 ) Deduction of tax at source from employment income
  • 87 ) Deduction of tax from honorarium of parliament members.
  • 88 ) Deduction at source from payment to the Worker’s Participation fund
  • 89 ) Deduction of tax from payment to contractors, suppliers etc.
  • 90 ) Deduction from payment in case of services.
  • 91 ) Deduction from payment for intangible property.
  • 92 ) Deduction of tax from advertising income of media.
  • 93 ) Deduction from payment to actors, actresses, producers, etc.
  • 94 ) Deduction or collection of tax at source from commission, discount, fees, etc.
  • 95 ) Collection of tax from travel agent.
  • 96 ) Deduction from money received as commission on letter of credit.
  • 97 ) Deduction from money received as commission on local letter of credit.
  • 98 ) Deduction of tax from payment by cellular mobile phone operator.
  • 99 ) Deduction of tax from any payment in excess of premium paid on life insurance policy.
  • 100 ) Deduction from the amount of insurance commission.
  • 101 ) Deduction of tax at source from fees, etc. of surveyors of general insurance company.
  • 102 ) Deduction of tax from saving deposits and fixed deposits, etc.
  • 103 ) Deduction of tax at source on income from interest on deposit kept in Post Office Savings bank
  • 104 ) Deduction of tax from resident's interest income
  • 105 ) Deduction of tax from profits of savings certificates
  • 106 ) Deduction of tax at source from interest on securities
  • 107 ) Deduction of tax at source on rebate on the actual value of Bangladesh Bank bills
  • 108 ) Deduction of tax from money received for international phone calls
  • 109 ) Deduction of tax at source from rent
  • 110 ) Deduction of tax for providing services from convention hall, conference center, etc.
  • 111 ) Deduction of tax at source from compensation against acquisition of property.
  • 112 ) Deduction of tax at source from• export cash subsidy.
  • 113 ) Collection of tax from transport freight forward agency commission.
  • 114 ) Deduction of tax against purchase of electricity.
  • 115 ) Deduction of tax from any sum paid by real estate developer to landowner
  • 116 ) Deduction of tax from commission or remuneration paid to agent of foreign buyer.
  • 117 ) Deduction of tax from dividends.
  • 118 ) Deduction of tax from income received from lottery, etc.
  • 119 ) Deduction or collection of tax from the income of non-residents.
  • 120 ) Collection of taxes from importers
  • 121 ) Collection of tax from manpower export
  • 122 ) Collection of tax from clearing and forwarding agents
  • 123 ) Collection of tax from export earnings
  • 124 ) Deduction of tax from any income remitted from abroad in connection with any service, revenue sharing, etc.
  • 125 ) Collection of tax on transfer of property, etc
  • 126 ) Collection of tax from real estate or land developers
  • 127 ) Collection of taxes from Government stamps, court fees, and commissions paid on cartridge papers.-
  • 128 ) Collection of tax from lease of property
  • 129 ) Collection of tax from cigarette manufacturers
  • 130 ) Collection of tax from brick manufacturers
  • 131 ) Collection of tax at the time of issue or renewal of trade license
  • 132 ) Collection of tax from shipping business of a resident
  • 133 ) Collection of tax from public auction sale
  • 134 ) Collection of tax on transfer of shares
  • 135 ) Collection of tax from transfer of securities
  • 136 ) Collection of tax from transfer of shares of shareholder of Stock Exchanges
  • 137 ) Collection of tax from Member of Stock Exchanges
  • 138 ) Collection of tax from commercially operated motor vehicles
  • 139 ) Collection of tax from operation of ships
  • 140 ) Definitions
  • 141 ) Deduction or collection of tax by gross-up in case of payment without tax
  • 142 ) General provisions for deduction or collection of tax at source
  • 143 ) Consequences of failure to deduct, collect, etc.
  • 144 ) Consequences of the issuance of certificate of tax deduction, collection or payment without actual deduction, collection or payment
  • 145 ) Certificate of tax deduction, etc.
  • 146 ) Payment of taxes levied in favor of the Government
  • 147 ) Confirmation and verification of tax deducted or collected at source
  • 148 ) Power to impose taxes without violating other Methods
  • 149 ) Exemption in respect of deduction or collection of tax at source
  • 150 ) Credit of tax deducted or collected at source
  • 151 ) Payment of tax in case of no deductions
  • 152 ) Collection of advance tax from cigarette manufacturers
  • 153 ) Collection of advance tax from private motor vehicle owners
  • 154 ) Payment of advance tax
  • 155 ) Amount of advance tax and time of payment thereof
  • 156 ) Payment of advance tax by new taxpayer
  • 157 ) Failure to pay installments of advance tax
  • 158 ) Credit of advance tax
  • 159 ) Explanation
  • 160 ) Imposition of interest for failure to pay advance tax
  • 161 ) Interest payable by Government on excess advance tax
  • 162 ) Interest payable by the assessee on deficiency in payment of advance tax
  • 163 ) Minimum tax
  • 164 ) Additional tax deducted or collected at source not being basis of minimum tax
  • 165 ) Return
  • 166 ) Filing of return
  • 167 ) Submission of the statements of assets and liabilities
  • 168 ) Submission of the statement of expenses relating life
  • 169 ) General rules of Return Submission
  • 170 ) Obligation to file Self-Assessment Return
  • 171 ) Time for filing return
  • 172 ) Notice for filing return
  • 173 ) Regarding payment of income tax and surcharge on or before the date of filing return
  • 174 ) Computation of tax in case of filing of return after tax day
  • 175 ) Filing of revised return in respect of “ordinary return”
  • 176 ) Consequences of filing incomplete return
  • 177 ) Return of withholding tax
  • 178 ) Concurrent jurisdiction
  • 179 ) Presentation of accounts, documents etc.
  • 180 ) Self-assessment
  • 181 ) Return Process
  • 182 ) Audit
  • 183 ) Assessment of tax on the basis if return
  • 184 ) Best judgement assessment
  • 185 ) Provisional assessment
  • 186 ) Audit of the return of withholding tax
  • 187 ) Assessment of firm or association
  • 188 ) Assessment in case of change in the constitution of a firm
  • 189 ) Assessment in case of constitution of new successor firm
  • 190 ) Assessment in case of succession of business otherwise than on death
  • 191 ) Assessment in case of discontinued business
  • 192 ) Assessment in case of partition of a Hindu undivided family
  • 193 ) Assessment in case of persons leaving Bangladesh
  • 194 ) Assessment in case of income of a deceased person
  • 195 ) Spot assessment
  • 196 ) Bar to question the assessment of tax
  • 197 ) Time limitation for assessment
  • 198 ) Definitions
  • 199 ) Application of provisions for collection of information
  • 200 ) Collection of information
  • 201 ) Automatic furnishing of information
  • 202 ) Inspection of business records
  • 203 ) Search for source of income
  • 204 ) Inquiries and investigation
  • 205 ) Power of survey
  • 206 ) Power of search and seizure
  • 207 ) Records relating to seized income to be handed over to the Deputy Commissioner of Taxes
  • 208 ) Period of preservation of records relating to seized income
  • 209 ) Retention of seized assets
  • 210 ) Application of retained assets
  • 211 ) Power to take evidence on oath, etc.
  • 212 ) Tax, etc. escaping payment
  • 213 ) Power of the Inspecting Additional Commissioner of Taxes to revise the erroneous order
  • 214 ) Notice of demand
  • 215 ) Direct collection and refund
  • 216 ) Certificate for recovery of tax
  • 217 ) Method of recovery by the Tax Recovery Officer
  • 218 ) Power to withdrawal of certificate and stay proceeding
  • 219 ) The validity of certificate for recovery not to dispute
  • 220 ) Collection of tax through District Collectors
  • 221 ) Other modes of recovery
  • 222 ) Taking simultaneous action in tax recovery
  • 223 ) Interim attachment or seizure of property
  • 224 ) Entitlement to refund
  • 225 ) Claim adjustment and refund
  • 226 ) Claim of refund
  • 227 ) Claim of refund for deceased or disabled person
  • 228 ) Correctness of assessment, etc., not to be questioned
  • 229 ) Refund on the basis of orders in appeal
  • 230 ) Definitions
  • 231 ) Adjustment of tax benefits
  • 232 ) Procedure for adjustment
  • 233 ) Definitions
  • 234 ) Determination of income from international transactions at arm's length price
  • 235 ) Computation of arm's length price
  • 236 ) Reference to Transfer Pricing officer
  • 237 ) Maintenance and keeping of information, documents and records
  • 238 ) Filing of statements relating to international transactions
  • 239 ) Report from an accountant to be furnished
  • 240 ) Avoidance of tax through transactions with non-residents
  • 241 ) Avoidance of tax through transfer of assets
  • 242 ) Avoidance of tax by transactions in securities
  • 243 ) Tax clearance certificate required for persons leaving Bangladesh
  • 244 ) Tax agreements
  • 245 ) Definitions
  • 246 ) Relief in respect of income arising outside Bangladesh
  • 247 ) Foreign tax credit
  • 248 ) Effect of computation of income on approval of foreign tax adjustment
  • 249 ) Limitation on claim of foreign tax credit
  • 250 ) Appeal
  • 251 ) Provisions for deduction of tax at source in case of Double Taxation Agreement
  • 252 ) Liability of representative in certain cases
  • 253 ) Persons to be treated as agent
  • 254 ) Right of agent to recover tax paid
  • 255 ) Liability of firm or association for unrecoverable tax due from partners or members
  • 256 ) Liability of partners, etc., for discontinued business of a firm, etc.
  • 257 ) Liability of directors for unrecoverable tax of private companies
  • 258 ) Liability of liquidator for tax of private companies under liquidation
  • 259 ) Liability to tax in case of shipping business of non-residents
  • 260 ) Liability to tax in case of air transport business of non-residents
  • 261 ) Registration of taxpayer
  • 262 ) Cancellation of registration of taxpayer
  • 263 ) Withholder Identification Number (WIN)
  • 264 ) Proof of submission of return required in certain cases-
  • 265 ) Displaying proof of submission of return
  • 266 ) Penalty for failure to file return, etc.
  • 267 ) Penalty for not maintaining accounts in the prescribed manner
  • 268 ) Penalty for using false Taxpayer's Identification Number (TIN)
  • 269 ) Penalty for failure to pay advance tax, etc.
  • 270 ) Penalty for non-compliance with notice
  • 271 ) Penalty for failure to pay tax on the basis of return
  • 272 ) Penalty for concealment of income
  • 273 ) Penalty for preparation of false audit report by chartered accountant
  • 274 ) Penalty for filing false audit report
  • 275 ) Penalty for default in payment of tax
  • 276 ) Penalty for non-compliance to section 235
  • 277 ) Penalty for non-compliance to section 237
  • 278 ) Penalty for failure to comply with the provision of section 238
  • 279 ) Penalty for failure to furnish report under section 239
  • 280 ) Bar to imposition of penalty without hearing
  • 281 ) Prior approval of Inspecting Joint Commissioner of Taxes for imposing penalty
  • 282 ) Orders of penalty to be sent to the Deputy Commissioner of Taxes
  • 283 ) Penalty to be without prejudice to other liability
  • 284 ) Revision of penalty based on the revised amount of income
  • 285 ) Revisional power of Commissioner
  • 286 ) Appeal to the Appellate Income Tax
  • 287 ) Form of appeal and limitation
  • 288 ) Procedure to be followed in settlement of appeals
  • 289 ) Decision on appeal
  • 290 ) Appeal against order of Tax Recovery Officer
  • 291 ) Appeal to the Appellate Tribunal
  • 292 ) Disposal of appeal by Appellate Tribunal
  • 293 ) Reference to the High Court Division
  • 294 ) Decision of the High Court Divisions
  • 295 ) Appeal to the Appellate Division
  • 296 ) Definitions
  • 297 ) Alternative Dispute Resolution
  • 298 ) Application for alternative resolution of disputes
  • 299 ) Representative of the Commissioner
  • 300 ) Facilitator in alternative dispute resolution (ADR) process
  • 301 ) Rights and duties of the assessee for ADR
  • 302 ) Procedures of disposal by the Alternative Dispute Resolution
  • 303 ) Stay of proceeding in case of pending appeal or reference at Appellate Tribunal or High Court Division
  • 304 ) Decision of the ADR
  • 305 ) Effect of agreement
  • 306 ) Limitation for appeal where agreement is not concluded
  • 307 ) Post verification of the agreement
  • 308 ) Bar on civil or criminal cases
  • 309 ) Confidentiality of statements, returns, etc.
  • 310 ) The provisions of this part shall be consistent with other provisions
  • 311 ) Punishment for non-compliance of certain obligations
  • 312 ) Punishment for tax evasion
  • 313 ) Penalty for proven false statement subject to verification
  • 314 ) Punishment for false certificate
  • 315 ) Penalty for failure to deduct or collect tax at source and deposit the same in the Government treasury
  • 316 ) Penalty for filing false audited statement subject to verification
  • 317 ) Penalty for inconsistent use of Taxpayer Identification Number
  • 318 ) Punishment for obstructing an income tax authority
  • 319 ) Punishment for disposal of property to prevent attachment
  • 320 ) Punishment for non-compliance with section (7) of section 221
  • 321 ) Punishment for provocation
  • 322 ) Punishment for disclosure of protected information
  • 323 ) Offense committed by any company, firm or association of persons
  • 324 ) Sanction for prosecution
  • 325 ) Power to compound officers
  • 326 ) Trial by Special Judge
  • 327 ) Appearance by authorized representative
  • 328 ) Electronic tax management
  • 329 ) Assistance to income tax authorities
  • 330 ) Correction of errors
  • 331 ) Tax to be calculated to nearest taka
  • 332 ) Evidence given for money paid or recovered
  • 333 ) Computation of the period of limitation
  • 334 ) Power to amend or extend, etc.
  • 335 ) Issuance of notice
  • 336 ) Assessment of tax for certain errors, etc. not to be treated as defective
  • 337 ) Procedure adopted in case of winding up of company
  • 338 ) Indemnity
  • 339 ) Implementation of pending legal provisions for taxation
  • 340 ) Incentives for officers and employees
  • 341 ) Power to amend the Schedules
  • 342 ) Removal of difficulties
  • 343 ) Power to make rules
  • 344 ) Repeal and custody
  • 345 ) Publication of translated text in English
  • Pera-1 ) Showing investment in building or apartment by paying special tax
  • Pera-2 ) Special tax treatment in respect of investment in economic zones or hi-tech parks
  • Voluntary disclosure of income ) Voluntary disclosure of income
  • Pera-1 ) Conditions for Approval of Superannuation und or Pension Fund
  • Pera-2 ) Method of approval
  • Pera-3 ) Withdrawal of approval
  • Pera-4 ) Provisions relating to fund income and contributions
  • Pera-5 ) Liability of trustee on deauthorization of fund
  • Pera-6 ) Particulars to be furnished in relation to superannuation fund or pension fund
  • Display of undisclosed resources ) Display of undisclosed resources
  • Pera-1 ) Conditions of approval
  • Pera-2 ) Method of approval
  • Pera-3 ) Withdrawal of approval
  • Pera-4 ) Provisions relating to income and contributions to funds
  • Pera-5 ) Management of refunded contributions
  • Pera-6 ) Particulars to be furnished in respect of gratuity funds
  • Pera-7 ) Provisions of this Part to prevail against regulations of the fund
  • Pera-8 ) Explanation
  • Pera-1 ) Inapplicability
  • Pera-2 ) Conditions to be fulfilled by a recognised provident fund
  • Pera-3 ) -Method Of approval-
  • Pera-4 ) Withdrawal of approval
  • Pera-5 ) Provisions relating to income and subscriptions of the fund
  • Pera-6 ) Tax on accumulated balance
  • Pera-7 ) Accounts of recognized provident funds
  • Pera-8 ) Recognition of provident fund with existing balances
  • Pera-9 ) Treatment of fund transferred by employer to trustee
  • Pera-10 ) Provisions of this Part to prevail against regulations of the fund
  • Pera-11 ) Appeals
  • Pera-12 ) Explanation
  • Pera-1 ) Depreciation allowance on assets used for agricultural purposes
  • Pera-2 ) Depreciation allowance on assets used in business
  • Pera-3 ) Determination of the purchase price of an asset
  • Pera- 4 ) Rate of normal depreciation allowance
  • Pera- 5 ) Initial Depreciation Allowance
  • Pera-6 ) Accelerated depreciation allowance on machinery or plant
  • Pera- 7 ) Provisions relating to sale or transfer assets and profit or loss thereon
  • Pera-8 ) Explanation
  • Pera-1 ) Computations
  • Pera-2 ) Amortization of license fee
  • Pera-2 ) Amortization of pre-commencement cost
  • Pera-3 ) Amortization of research and development expenditure
  • Pera-4 ) Amortization of computer software and applications
  • Pera-5 ) Amortization of unauthorized expenditure
  • Pera-6 ) Explanation
  • Pera-1 ) Profits of life insurance business to be computed separately
  • Pera-2 ) Computation of profits and gains of life insurance business
  • Pera-3 ) Computation of profits and gains of pension and annuity business
  • Pera-4 ) Deduction
  • Pera-5 ) Adjustment of tax paid by deduction at source
  • Pera-6 ) Computation of profits and gains of other insurance business
  • Pera-7 ) Profits and gains of non-resident persons
  • Pera-8 ) Mutual Insurance Associations
  • Pera-9 ) Explanation
  • Pera-1 ) Computation of profits arising from exploration and production of petroleum
  • Pera-2 ) Computation of Profits
  • Pera-3 ) Depletion allowance
  • Pera-4 ) Amounts and taxes payable to Government
  • Pera-5 ) Adjustments of payments to the Government and taxes
  • Pera-6 ) Carry forward of excess payments
  • Pera-7 ) Sale price of oil
  • Pera-8 ) Explanation
  • Pera-1 ) Separate account of profits earned from exploration and extraction of mineral reserves
  • Pera-2 ) Computation of Profits
  • Pera-3 ) Depletion allowance
  • Pera-4 ) Tax exemption of profits from refining or concentrating mineral reserves
  • Part-1 ) EXCLUSIONS FROM TOTAL INCOME
  • Part-2 ) DEDUCTIONS FROM TOTAL INCOME
  • Pera-1 ) Application
  • Pera-2 ) Such allowable investment and expenditure on which general tax relief is applicable
  • Pera-1 ) Industrial establishment eligible for tax holiday
  • Pera-2 ) Tax-exempt income for entities referred to in paragraph 1
  • Pera-3 ) Physical infrastructure eligible for tax relief
  • Pera-4 ) Tax-exempt income for entities referred to in section 3
  • 7th-Schedule ) THE SEVENTH SCHEDULE SPECIAL TAX RATE (See section 18)
  • Part-1 ) BUSINESS RESTRUCTURING
  • Part-2 ) STARTUP SANDBOX

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