109. Information regarding payment of interest.-

 

109. Information regarding payment of interest.- 

Every person responsible for making  any  payment  of  interest  constituting  income  not  classifiable  under the  head  "Interest  on  securities"  shall,  if  such  payment  exceeds 1[fifteen thousand  taka],  before  the  first  day  of  September  each  year,  furnish  to  a prescribed officer a statement prepared in the prescribed form and verified in the prescribed manner so as to give the following information, namely:-


(a) the name and address of every person to whom such payment has been made, or was due, during the preceding financial year;
(b) the amount of payment so made or due; and
(c) such other particulars as may be prescribed.

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1Subs. for "five thousand taka" by F.O. 1986

 

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