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16. Deduction of tax from payment to contractors, etc.-
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1[16. Deduction of tax from payment to contractors, etc.-
The rate of deduction of income tax under section 52 shall be the following-
(a) subject to clause (b), in case of a payment made under sub-section (1) of section 52, the deduction on payment shall be at the rate specified in the Table-1 below:-
Table-1
| Sl. No. | Amount | Rate of Deduction of tax |
| 1. | Where base amount does not exceed taka 15 lakh | 2% |
| 2. | Where base amount exceeds taka 15 lakh but does not exceed taka 25 lakh | 3% |
| 3. | Where base amount exceeds taka 25 lakh but does not exceed taka 1 crore | 4% |
| 4. | Where base amount exceeds taka 1 crore but does not exceed taka 5 crore | 5% |
| 5. | Where base amount exceeds taka 5 crore but does not exceed taka 10 crore | 6% |
| 6. | Where base amount exceeds taka 10 crore |
7% |
(b) the rate of deduction from the following classes of persons shall be at the rate specified in the Table-2 below:-
Table-2
|
Sl No |
Amount | Rate of deduction of tax |
| 1 |
In case of oil supplied by oil marketing companies- (b) Where the payment exceeds taka 2 lakh |
Nil 0.60% |
| 2 |
In case of oil supplied by dealer or agent (excluding petrol pump station) of oil marketing companies, on any amount |
1% |
| 3 |
In case of supply of oil by any company engaged in oil refinery, on any amount |
3% |
| 4 |
In case of company engaged in gas transmission, on any amount |
3% |
|
5
|
In case of company engaged in gas distribution, on any amount
|
3% |
Provided that-
(a) the rate of tax shall be fifty percent (50%) higher if the payee does not have a twelve-digit Taxpayer’s Identification Number at the time of makintg the payment;
(b) Where the payee or the income of the payee,which is subject to tax at source under section 52, is exempted from tax or is subject to a reduced tax rate in an income year, the Board may on an application made by the payee in this behalf gives a certificate in writting that the payment referred to section 52 for that income year shall be made without any deduction or with deduction at a proportionately reduced rate, as the case may be..]
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1 Subs by এস,আর, ও নং ২৫৭-আইন/আয়কর/২০১৭,তাং ০১/০৮/২০১৭
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Md. Jahangir Alam
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