50 Section Tax Deduction from Salaries

November 9, 2021 Income Tax Legal law

A private limited company has to submit its half-yearly Withholding Tax Return under section 75 (A) of the Income Tax Ordinance 1984. Section 75A of the Income Tax 1984 has given below:

Section 75A: Withholding Tax Return Submission

“(1) Every person, being a company or a co-operative society or a non-government organization registered with NGO Affairs Bureau[a Micro Credit Organization having licence with Micro Credit Regulatory Authority,[a university], a private hospital, a clinic, a diagnostic centre, [an English medium school providing education following international curriculum, artificial juridical person, local authority,] a firm or an association of persons], shall file or cause to be filed, with the Deputy Commissioner of Taxes under whose jurisdiction he is an assessee, a return of tax deducted or collected under the provisions of Chapter VII of this Ordinance.

(2) The return under sub-section (1) shall be-

(a) furnished in the prescribed form setting forth therein such particulars and information, and accompanied by such schedules, statements, accounts, annexures or documents as may be prescribed;

(b) signed and verified in the manner as specified in [clause (b)] of sub-section (3) of section 75;

(i) First return: by Thirty-first January of the year in which the deduction or collection was made;

(ii) Second return: by Thirty-first July of the next year following the year in which the deduction or collection was made:
Provided that the last date for the submission of a return as specified in this sub-section may be extended by the Deputy Commissioner of Taxes upto fifteen days from the date so specified.

(3) The Board may, by notification in the official Gazette, –

(a) specify [the cases in which the] return required to be filed under this section shall be filed electronically or in any other machine readable or computer readable media;

(b) specify the form and the manner in which such electronic, machine readable or computer readable returns shall be filed.”

Reference: http://bdlaws.minlaw.gov.bd/act-672/section-41480.html

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5 Comments

Editorial Stuff
November 13, 2021 at 9:32 pm
To contribute to the dream of “Digital Bangladesh” and offer every household of Bangladesh an opportunity to be part of the development of Income Tax & Company Law, develop professional capabilities and engaged in businesses and development activities for economic and social benefits. The Rahamat & Associates Limited has a proud tradition of making an actual, direct impact on the communities we serve. We believe when our community thrives, so does our business. We are committed to making a positive impact with the same energy that characterizes our practice of legal services. Our commitment to community involvement is a testament to the company’s core values.
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- Editorial Stuff
  November 13, 2021 at 9:32 pm
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  - Editorial Stuff
    November 13, 2021 at 9:32 pm
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Editorial Stuff
November 13, 2021 at 9:32 pm
Our vision is to provide our clients with skilled legal advice in a timely and efficient manner. We strive to handle each matter with accountability and responsiveness, as if we were representing ourselves. We focus our attention on the tax & legal aspects of our clients’ business so that our clients can focus their attention on the success of their business. Our vision reflects our values: integrity, loyalty, accountability, innovation, service, excellence and teamwork.
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Editorial Stuff
November 13, 2021 at 9:32 pm
In 2017, the firm was registered as a limited company named “RAHAMAT & ASSOCIATES LIMITED”. For the last couple of years, the company has evolved to provide unmatched clients’ services and has grown considerably to be able to provide top class clients’ services which are unique, idiosyncratic and unprecedented in the income tax history of Bangladesh. As of March 2018, Rahamat & Associates Limited is an affiliated company of RKIS Inc., CANADA as a global alliance.
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