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Dhaka Tribune

Tax returns a must for savings tools over 5L

Tax return documents also mandatory to open an account of more than Tk5 lakh in Bangladesh Post Office Savings Bank

Update : 26 Jul 2022, 05:14 PM

The Bangladesh Bank has made it mandatory to show proof of last year's income tax return for investment in savings certificates worth more than Tk5 lakh. 

In addition, income tax return documents were made mandatory to open an account of more than Tk5 lakh in Bangladesh Post Office Savings Bank. 

The central bank's data management department issued a circular in this regard on Monday.

According to the Directorate of National Savings Certificate and government gazette, Bangladesh Bank directed the banks to take necessary measures for proper compliance with Section 48 of the Finance Act, 2022 for investments over Tk5 lakh as savings certificate and in Post Office Savings Banks.

Similarly, if the credit balance exceeds Tk10 lakh in bank accounts, individuals must submit proof of income tax return deposit. 

It will also be required when applying for a bank loan of more than Tk5 lakh or taking a credit card worth more than the amount.

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