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Tue, Sep 24, 2019 2:44 AM
Mon, Jul 29, 2019 3:03

5pc tax at source in savings certificate up to Tk 5 lakh

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Finance Minister AHM Mustafa Kamal has said five per cent tax at source will be applicable for family savings certificate for up to Tk 5 lakh investment.

Finance Minister AHM Mustafa Kamal has said five per cent tax at source will be applicable for family savings certificate for up to Tk 5 lakh investment.

Meanwhile, for investment above Tk 5 lakh on family savings certificate the tax at source will be ten per cent, Mustafa Kamal said at a press briefing at the secretariat this afternoon

The decision was taken on Monday considering the fixed income population as they would be the ones who are most affected by this change, he added.

An amended circular will be handed out in this regard.

In the budget for fiscal 2019-20, the government imposed a five per cent tax at source on the profit on savings certificate along with the previous five percent.

 

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