82BB. Universal Self Assessment.-


1[82BB. Universal Self Assessment.(1) Where an assessee files a return of income mentioning twelve-digit Taxpayer's Identification Number (TIN) in compliance with the conditions and within the time specified in section 75 and pays tax in accordance with the provision of section 74, he shall be issued by the Deputy Commissioner of Taxes or any other official authorised by him, an acknowledgment of receipt of the return and such acknowledgment shall be deemed to be an order of assessment of the Deputy Commissioner of Taxes.

 

 (2) The Deputy Commissioner of Taxes shall process the return filed under sub-section (1) in the following manner, namely:-

 (a)  income shall be computed after making the adjustments in respect of

       any arithmetical error in the return or any incorrect claim which is

       apparent from the existence of any information in the return or in any

        statement or document filed therewith;

 

 (b)  tax and any other amount payable under this Ordinance shall be

        computed on the basis of the income computed under clause (a); and

 

(c)  the sum, payable by or refundable to the assesse, shall be determined  

     after giving credit of the sum paid by way of advance tax including  

      the tax paid at source and the tax paid under this Ordinance.

(3) Where the process of return results in a difference in the amount of income, tax or other material figures than the amount mentioned in the return filed under sub-section (1), the Deputy Commissioner of Taxes shall serve a notice to the assessee-

 (a) communicating him about the difference and enclosing with the notice a  

       sheet of computation of income, tax, refund or other related particulars

       that resulted from the process of return;

 

(b)  giving him an opportunity to explain his position in writing within the

       time specified in the notice where the process of return results in

       additional liability or in reduction of refund, as the case may be; and

 

(c)  giving him an opportunity to-

                  (i)  file an amended return, in the applicable cases, within the time

                        specified in the notice, addressing the difference mentioned in the

                        notice; and

           (ii) pay, within the time specified in the notice, the tax and any other  

                 amount that becomes payable as a result of the process;

 (4) Where a notice under sub-section (3) is served, the Deputy Commissioner of Taxes shall-

 

       (a) send a letter of acceptance of amended return within sixty days where all of the following conditions are fulfilled-

           (i)  an amended return is filed in accordance with the provision of clause   

                (c) of sub-section (3);

           (ii)  any tax or any other amount, payable under this Ordinance as a result

                  of the process, has been paid on or before the submission of the

                  amended return; and

          (iii)  the difference mentioned in sub-section (3) has been duly resolved in

                   the return;

       (b)   serve, after the expiry of the date of response of the assessee as  mentioned in the notice under sub-section (3), a notice of demand along with a sheet of computation of income, tax, refund or other related particulars where any of the conditions mentioned in clause (a) is not fulfilled:
Provided that a notice of demand shall be served within six months from the date of serving notice under sub-section (3).

 

(5) Where, after filing the return under sub-section (1), the assessee finds that owing to any unintentional mistake the tax or any other amount payable under this Ordinance has been paid short or computed short by reasons of underreporting of income or overreporting of rebate, exemption or credit or for any other reasons, he may file to the Deputy Commissioner of Taxes an amended return-

(a) attaching with the amended return a written statement mentioning the nature and the reason for the mistake;

 (b) paying in full, on or before filing the amended return –

       (i) the tax and any other amount that was paid short or computed short;

            and

      (ii) an interest at the rate of two percent (2%) per month on the amount

            mentioned in sub-clause (i);

 and if the Deputy Commissioner of Taxes is satisfied that the amended return is filed in compliance with the conditions mentioned in clause (a) and (b), he may allow the amended return:

  Provided that no amended return shall be allowed-

 

 (a) after the expiry of one hundred and eighty days from the date   of filing   

       the original return under sub-section (1); or

 

(b)  after the original return has been selected for audit under

       sub-section (7).

 

(6) No notice under sub-section (3) shall be served after the expiry of twelve months from the date of the submission of return under sub-section (1) or amended return under sub-section (5), as the case may be.

 

(7) The Board or any authority subordinate to the Board, if so authorised by the Board in this behalf, may select, in the manner to be determined by the Board, a number of returns filed under subsection (1) or of amended returns accepted under clause (a) of subsection (4) or of amended returns allowed under sub-section (5), and refer the same to the Deputy Commissioner of Taxes for the purpose of audit:

 

 Provided that a return filed or an amended return accepted or allowed under this section shall not be selected for audit where-

 

  1. such return or amended return shows at least fifteen percent (15%) higher total income than the total income assessed in the immediately preceding assessment year; and

 

  1. such return or amended return-

 

  1. is accompanied by corroborative evidence in support of income    

        exempted from tax;

  1. is accompanied by a copy of bank statement or account statement, as the case may be, in support of any sum or aggregate of sums of loan exceeding taka five lakh taken other than from a bank or financial institution;

 

  1. does not show the receipt of gift during the year;

 

  1. does not show any income which is subject to tax exemption or   

         reduced tax rate under section 44; or

 

  1. does not show or result any refund.

 

(8) Where after conducting the audit the Deputy Commissioner of Taxes is satisfied that the affairs of the assessee has not been duly reflected in the return or the amended return or in statements and documents submitted therewith, he shall communicate the findings of the audit to the assessee and serve a notice requiring him to file a revised return reflecting the findings of the audit, and pay tax and any other applicable amount on the basis of the revised return on or before the filing of such revised return.

 

(9) Where a revised return is filed and the Deputy Commissioner of Taxes is satisfied that the findings of audit has been duly reflected in the revised return and the tax and any other applicable amount have been fully paid in compliance with the provision of sub-section (8), he may accept the revised return and issue a letter of acceptance to the assessee.

 

(10) Where after the service of notice under sub-section (8) no revised return is filed or the revised return that has been filed does not reflect the findings of the audit, or tax or other applicable amount has not been paid in compliance with the provisions of sub-section (8), the Deputy Commissioner of Taxes shall proceed to make assessment under section 83 or 84, whichever is applicable.

 

 (11) In the case of a return submitted under sub-section (1), no question as to the source of initial capital of the business or profession of a new assessee shall be raised, if the assessee-

 

    (a) shows income which exceeds the tax exemption threshold and which is not    

          less than twenty percent (20%) of the initial capital invested in the business

          or profession;

 

  1. pays tax on such income at regular tax rate along with any other  

             applicable amount on or before filing of return; and

 

  1. mentions in writing that the return falls under this subsection.

 

 (12) In the case of a return for which the provision of subsection (11) applies, the minimum amount of capital maintained in the business or profession at the end of the income year and four subsequent income years shall be equal to the initial capital; and any amount of shortfall of the capital in any income year shall be deemed as "income from business or profession" for that income year and shall be included in total income of the assessee.

(13) For the purpose of this section-

(a) a return includes any statement required to be filed under section 80;

 

 (b) “an incorrect claim which is apparent from the existence of any information  in the return or in any statement or document filed therewith” shall mean a claim, on the basis of an entry, in the return or in the statement or document submitted with the return-


(i) of an item, which is inconsistent with another entry of the same, or some other

item, in such return, statement or document; or


(ii) in respect of a deduction, exemption, rebate or credit, where such deduction, exemption, rebate or credit exceeds the specified statutory limit which may have been expressed as monetary amount, percentage, ratio or fraction;

 

(c) “regular tax rate” means the rate of tax that would be applicable if the tax exemption or the reduced rate were not granted;

 

(d) in calculating fifteen percent (15%) higher total income, the income from the sources that are common between the assessment years for which the return under sub-section (1) has been filed and the immediately preceding assessment year shall be considered.]

1Ins. by F.O. 2017

1[82BB. Universal Self Assessment.-

2(1) Subject to sub-sections (2) or (3) and section 93,

where an assessee, either manually or electronically, furnishes a return of income mentioning twelve-digit Taxpayers Identification Number (TIN) in compliance with the conditions and within time specified in 3[sub-section (2) of] section 75 and pays tax in accordance with section 74, he shall be issued by the Deputy Commissioner of Taxes or any other official authorised by him, an acknowledgement of receipt of the return and such acknowledgement shall be deemed to be an order of the Deputy Commissioner of Taxes for the purpose of assessment.

4[Explanation.- In this section, return furnished “electronically” means a return filed in accordance with the provisions of sub-section(4)of section 75.]

(2) On receipt of such return under sub-section (1), the Deputy Commissioner of Taxes shall

(a) process such return in the following manner, namely:-

  1. the income shall be computed after making the adjustments in respect of any arithmetical error in the return and any incorrect claim, if such incorrect claim is apparent from the existence of any information in the return; 5[and the statements and documents submitted therewith]
  2. the tax shall be computed on the basis of the income computed under sub-clause (i); and
  3. the sum payable by, or the amount of refund due to, the assesse shall be determined after adjustment of the tax and interest, if any, computed under sub-clause (ii) by any tax deducted at source, any tax collected at source, any advance tax paid, any tax paid under section 74 and any other amount paid by way of tax and interest;

(b) send, after processing such return in accordance

with the provision of clause (a), a notice of demand along with an intimation to the assesse specifying the income so computed, the liability to pay tax on such income, the amount of tax credit allowed, the sum determined to be payable by, or refundable to, him and such other particulars within thirty days of such computation as may be specified: Provided that no such intimation shall be sent after the expiry of a period of twelve months from the end of the financial year in which the return is furnished: Provided further that no demand notice requiring the assesse to pay more taxes shall be made unless the assesse is given an opportunity in writing in this regard.

 

Explanation.- For the purposes of this section, “an incorrect claim apparent from the existence of any information in the return” shall mean a claim, on the basis of an entry, in the return—

  1. of an item, which is inconsistent with another entry of the same, or some other item, in such return; or
  2. in respect of a deduction, where such deduction exceeds the specified statutory limit which may have been expressed as monetary amount, percentage, ratio or fraction|

(3) Notwithstanding anything contained in sub-section (1) 6[and section 93] , the Board or any authority subordinate to    the    Board,   if so authorised by the    Board in this  behalf,   may   select,   in   the  manner  to be  determined  by  the  Board, 7[a number of these returns filed  under sub-section (1)] and refer the returns so selected to the Deputy Commissioner of Taxes for the purpose of audit and the Deputy Commissioner of Taxes shall thereupon proceed, if so required, to make the assessment under section 83 or section 84, as the case may be 8[:

Provided  that  a  return  of  income  filed  under  this  section  shall  not  be selected  for  audit  where  such  return  shows  at  least  twenty  per  cent  higher income than the income assessed or shown in the return of the immediately preceding assessment year and such return-

(a)   is accompanied by corroborative evidence in support of income exempted from tax;
(b)   is accompanied by a copy of bank  statement  or account statement, as the case  may  be,  in  support  of  any  sum  or  aggregate  of  sums  of  loan exceeding taka five lakh taken from any person during the income year;
(c)  does not show receipt of gift during the year;
(d)  does  not  show  any  income  chargeable  to  tax  at  a  rate  reduced  under section 44; or
(e)  does not show or result any refund.]


9[(4)  No  question  as  to  the  source  of  investment  made  by  a  new  assessee deriving  income  from  business  or  profession  shall  be  raised,  if  he  shows income  at  least  not  less  than  twenty  five  percent  of  the  capital  invested  in business or profession and pays tax on such income before 10 [filing of return]

11[(5) The initial capital investment of business or profession or any fraction of such  initial  capital  shall  not  be  transferred  from  that  business  or  profession within the income year when the investment was  made or within five years from the end of that income year.]]

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1Ins. by F.O. 2007
2 Subs. by F. A. 2015

3 Omittede by F.A. 2016

4 Added F. A. 2016

5 Added F. A. 2016

6 Omitted by F.A. 2011
7 Subs. for "of three returns filed under sub-section (1)" by F.O. 2008
8 Subs. "colon" for "full-stop" and ins. new proviso by F.A. 2014

9 Ins. by F.A. 2009

10Subs. by F. A. 2016

11 Subs. by F.A. 2012

 

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