53H. Collection of tax on transfer, etc. of property.-

¹[53H.  Collection  of  tax  on  transfer,  etc.  of  property.- 

(1)  Any  registering officer  responsible  for  registering  any  document  of  a  person  under  the provisions  of  clause  (b),  (c)  or  (e)  of  sub-section  (1)  of  section  17  of  the Registration Act, 1908 (XVI of 1908) shall not register any document unless tax is paid  at  such rate  as may  be  prescribed  in  relation to the  property  to which  the  document  relates  and  on  which  stamp-duty  is  chargeable  under Stamp Act, 1899 (II of 1899) by the person whose right, title or interest is sought  to  be  transferred,  assigned,  limited  or  extinguished  thereby,  at  the time of registration of such document:

Provided  that  the  rate  of  tax  shall  not  exceed   taka  ten  lakh  and  eighty thousand  per  katha  (1.65  decimal)  for  land,  taka  six  hundred  per  square meter  for any structure, building, flat, apartment or floor space on the land, if any, or four per cent of the deed value, whichever is higher.

(2) Nothing in this section shall apply to a document relating to:

(a)  sale  by  a  bank  or  any  financial  institution  as  a  mortgagee empowered to sell;
(b)  mortgage  of  any  property  to  any  bank  or  any  financial  institution against any loan 2[;

“(c) transfer of property to a trust or special purpose vehicle established only for the purpose of issuing sukuk approved by government or Securities Exchange Commission and vice versa.”।]

³[Explanation.-For  the  purpose  of  this  sub-section,  ―financial  institution‖ shall  mean  the  Bangladesh  House  Building  Finance  Corporation  or  the Bangladesh Development Bank Ltd.]

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¹Subs. by F.A. 2014

2 Subs for ";" for "." && ins new clause (c) by F. A. 2021

³ Onitted by F. A. 2015

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