প্রকাশ্য নিলামের বিক্রি হইতে কর সংগ্রহ

(1) If a person sells any product or property of a particular owner by sealed tender at public auction, tax shall be collected at the rate of 10% (ten percent) on the total sale price before the transfer of ownership of said product or property or permission to exercise any right.

(2) Tax shall be collected at source at the rate of 1% (one percent) in case of sale of tea in public auction.

(3) Deduction of tax under this section shall not apply if any land is sold in plot form by public auction.

(4) For the purposes of this section,

(a) “the sale of any goods or property”; implies the right to grant any lease in the name of any person including the right to collect any goods or property, jalmahal, balumhal, sayrat mahal, lease of rights of  any kind, duties or other levies, by whatever name called, but shall not include the sale of any plot of land;

b) “specified owner”; means any corporation or body including the Government or any other authority, unit, an entity or a company whose activities or main activities are authorized by any law, ordinance, order or instrument having the status of law or authorized or established under any law in force in Bangladesh.