Regulatory Alerts2014-07-08
Added · Updated
DMD Circular No. 04: Deducting Source Tax from Pensioner Sanchayapatra and Wage Earners Development Bond
The Department of Management and Development (DMD) amends Section 52 of the Income Tax Ordinance, 1984, to exempt interest income up to 500,000 BDT from source tax on Pensioner Sanchayapatra and Wage Earners Development Bond investments, while maintaining a 5% withholding tax rate on interest exceeding this threshold. This exemption is treated as final tax for the taxpayer. The directive applies to bonds purchased on or after July 1, 2014, and instructs scheduled banks to implement these rules at all branch counters.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.
Share