83AA. Self-assessment for private limited companies.-

¹ [83AA. Self-assessment for private limited companies.-

(1) Where, an assessee, being a private limited company within the meaning of the Companies Act, 1913(VII of 1913) or কোম্পানী আইন, 1994 (1994 সনের ১৮নং আইন) files a return on or before the date specified in clause (c) of sub-section (2) of section 75 showing income ²[for the assessment year commencing on or after the first day of July,1997 and ending on or before thirtieth day of June, 1999 (both days inclusive)] and the income shown in such return is higher by not less than ³[five per cent.] over the last assessed income and has also increased by at least a further sum of ⁴[five per cent.] for each preceding assessment year in respect of which the assessment is pending and pays tax on the basis of such income ⁵[or pays tax which is not less than ten per cent. Of the equity or two and a half per cent , of the turnover] or ⁶[fifty] thousand taka, and shows income which is proportionate to the tax so paid, the return filed by the assessee shall be deemed to be correct and complete and the Deputy Commissioner of Taxes shall assess total income of the assessee on the basis of such return and communicate the assessment order to the assessee within thirty days next following:

Provided that-

(a) such return shall be accompanied by a copy of the accounts of the company audited by a chartered accountant;

(b) the amount of tax payable shall be the highest of the taxes computed in the manner specified in this sub-section and the tax so payable shall be paid on or before the date on which the return is filed;

(c) the assessment on the basis of such return shall not result in any refund.

⁷ [(3) Notwithstanding anything contained in sub-section (1) 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,⁸[a portion, not exceeding twenty per cent.] of the 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 :

⁹[Provided that the Deputy Commissioner of Taxes shall not proceed to make any audit in respect of a return, where such return shows at least ¹⁰[fifteen per cent.] higher income than the income last assessed, even if the return is selected for audit.]

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¹ Ins by F. A. 1997

² Omitted by F. A. 1998

³ Subs for “ten percent” by F. A. 2004.

⁴ Omitted by F. A. 1998

⁵ Omitted by F. A. 1998

⁶ Subs. for “twenty five” by F. A. 2002

⁷ Ins by F. A. 1998, Subs by F. A. 1999

⁸ Omitted by F. A. 2004

⁹ proviso omitted by F. A. 2004

¹⁰ Subs. for “twenty percent” by F. A. 2000

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