Regulatory Alerts2025-07-31
Added
DMD Circular Letter No. 12: Regarding Proof of Submission of Tax Return (PSR) for investment in Sanchayapatra
The document mandates that individuals must submit proof of filing their tax return to open or maintain a fixed deposit exceeding 10 lakh Taka or to purchase Sanchayapatra (government savings certificates) exceeding 10 lakh Taka. This requirement is enforced by scheduled banks in Bangladesh following the replacement of item 22 in Section 264(3) of the Income Tax Ordinance, 2023, via Ordinance No. 28 of 2025. The regulation applies to all scheduled banks operating in Bangladesh and requires them to implement the necessary measures to verify this documentation.
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