Income tax return mandatory for investment over Tk 5 lakh

Savings certificates

Industry Desk: The government has made income tax return mandatory for investment more than 5 lakh Taka in the savings certificates and for opening post office savings accounts. It will be effective from this fiscal year.
A circular in this regard was issued by the Debt Management Department of the Central Bank yesterday. Bangladesh Bank (BB) has sent the circular to the chief executive officers of the banks across the country.
Mentionable, earlier investment of Tk 1 lakh in Savings Certificates did not require Tax Identification Number (TIN). However, TIN number had to be provided for investments in Savings Certificates above Tk 1 lakh. In the current fiscal year 2022-2023, TIN is mandatory for any amount of investment in savings paper and income tax return has been made mandatory for investment of more than Tk 5 lakh and as post office savings accounts.