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After the government publishes a reliable translated text in English through an official gazette, we will incorporate the Authentic English Text here.

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44.Exemption

(4) The Government may, by notification in the official Gazette,-

(a) make such amendments by way of addition, omission, alteration or qualification in the Sixth Schedule as it may deem fit; and

(b) make any exemption, reduction in rate or other modifications in respect of tax in favour of any class of income or in regard to the whole or any part of the income of any class of persons 8.

(5) Notwithstanding anything contained in clause (b) of sub-section (4) or any other section in Chapter VI-

(a) the income of a person for the relevant income year shall not be-

(i) exempted from tax; or

(ii) subject to reduced rate of tax;

in an assessment year if the person fails to-

(i) submit the return of income as required under section 75; or

(ii) comply with any provision of Chapter VII of this Ordinance; or

(iii) receive all the receipts from the sources, income from which is subject to tax exemption or reduced rate of tax, through bank transfer:

Provided that the provision of receiving the receipts through bank transfer shall not be applicable for an assessee being individual having gross receipts not exceeding Taka one crore in an income year:

Provided further that the provision of receiving the receipts through bank transfer shall not be applicable for income derived from agriculture or farming.

(b) any disallowance of expenditure under section 30, in calculating the income of a source or of a person that is exempted from tax or is subject to a reduced rate of tax, shall be treated as income for that source or of that person, as the case may be, and tax shall be payable on such income at the regular rate.