Tuesday, August 10, 2021

Tax Rebate for investment

(5) Tax Rebate for investment :[Section 44(2)/only allowable for Resident/Non-Resident Bangladeshi]

(a)Rate of Rebate:

Amount of allowable investment is - actual investment or 30% of total (taxable) income or Tk.

1,50,00,000/- whichever is less. Tax rebate amounts to 15% of allowable investment.

(b)Types of investment qualified for the tax rebate are:-

 Life insurance premium up to 10% of the face value.

 Contribution to Provident Fund to which Provident Fund Act, 1925 applies. 

 Self contribution and employer's contribution to Recognized Provident Fund.

 Contribution to Superannuation Fund.

 Contribution up to TK 60,000 to deposit pension scheme sponsored by any scheduled bank or a 

financial institution.

 Investment in approved debenture or debenture stock, Stocks or Shares.

 Contribution to Benevolent Fund and Group Insurance premium.

 Contribution to Zakat Fund.

 Donation to charitable hospital approved by National Board of Revenue.

 Donation to philanthropic or educational institution approved by the Government.

 Donation to socio-economic or cultural development institution established in Bangladesh by Aga

Khan Development Network.

 Donation to ICDDRB.

 Donation to philanthropic institution-CRP, Savar, Dhaka.

 Donation up to tk. 5 lac to (1) Shishu Swasthya Foundation Hospital, Mirpur, Shishu Hospital,

Jessore and Hospital for Sick Children, Sathkhira run by Shishu Swasthya Foundation, Dhaka. (2)

Diganta Memorial Cancer Hospital, Dhaka. (3) The ENT and Head-Neck Cancer Foundation of

Bangladesh, Dhaka and (4) Jatiya Protibandhi Unnayan Foundation, Mirpur, Dhaka.

 Donation to Dhaka Ahsania Mission Cancer Hospital.

 Donation to Sylhet Diabetic Samity, Islamia Eye Hospital and MA Ispahani Institute of 

 Opthalmology, Kidney Foundation and National Heart Foundation of Bangladesh.

 Donation to Asiatic Society of Bangladesh.

 Donation to Muktijodha Jadughar.

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 Donation to National level institution set up in memory of liberation war.

 Donation to National level institution set up in memory of Father of the

Nation.

 Any investment by an individual in savings certificate and Bangladesh Government Treasury Bond.

 Investment in purchase of one computer or one laptop by an individual assessee.

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