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Presented by

Hadee Lutful & Co.


Chartered Accountants
Date: 01 July 2020
Particulars Section 19AAAA Section 19AAAAA Section 19BBBBB Section 82BB (11)

Overriding Notwithstanding anything Notwithstanding anything Notwithstanding anything Not addressed explicitly
provisions contained in this contained in this Ordinance contained in this
Ordinance or any other or any other law for the Ordinance….
law for the time being time being in force…..
in force…..
Way of No question as to the No question as to the Source shall be deemed No question as to the
dealing source source to have been explained source
with
source
Relevant Any authority Any authority Tax authority (deduced) Tax authority (deduced)
authority

Investment Any sum invested in Any undisclosed Any sum invested in the Initial capital of the
field securities movable and construction or business/profession of a
immovable property purchase of any new assessee
building/apartment 2
Particulars Section 19AAAA Section 19AAAAA Section 19BBBBB Section 82BB (11)
Detailed (i) Stocks, shares, mutual (i) Land, building or Apartment or building Initial capital if shown
scope fund units, bonds, apartment (immovable income: (i) exceeds tax
debentures and other property); (ii) Cash, exemption threshold
securities listed in and bank deposits, financial and (ii) not less than 20%
approved by BSEC; (ii) schemes and instruments, of the initial capital
All other government all kinds of deposits or invested
securities and bonds saving deposits, savings
tradable in the capital instruments or certificates
market (movable property)

Past/future Investment shall be Existing movable/ Investment completed in Investment made in an


event made from 01 July 2020 immovable property not any income year income year for which
to 30 June 2020 disclosed earlier corresponding return submitted under
assessment of which is section 82BB (Universal
pending Self)
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Particulars Section 19AAAA Section 19AAAAA Section 19BBBBB Section 82BB (11)

Tax rate 10% on investment (i) movable property @ At varying rates before At regular tax rate, i.e.,
and within 30 days from the 10% and (ii) the assessment for the not applicable to
payment date of such investment immovable property @ relevant assessment year business/professional
varying rates; before in which the investment is income subject to
submission of completed reduced tax
return/revised return rate/exemption; on or
from 01 July 2020 to 30 before filing return
June 2021
Declaration Declaration in the Disclosure in Disclosure/declaration in Disclosure in return with
/Disclosure prescribed form and return/revised return return/revised return written statement that it
manner shall be made falls under section 82BB
and submitted to the (11)
DCT

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Particulars Section 19AAAA Section 19AAAAA Section 19BBBBB Section 82BB (11)

Higher tax Not applicable Not applicable (i) If already owns a Not applicable
rate building/apartment in any
City Corporation or
makes investment in
1+ buildings/apartments,
tax rate shall be 20%
higher; (ii) If notice
issued under section
93/113 (f) or
proceeding initiated
under section 164, 165
and 166 before
submission of return, tax
rate shall be 100%
higher 5
Particulars Section 19AAAA Section 19AAAAA Section 19BBBBB Section 82BB (11)
Lock-in 1 year from the day of Not applicable Not applicable 4 subsequent income
period investment years
Legality of Not addressed Not addressed Not applicable to the Not addressed explicitly
source explicitly but implied by explicitly but implied by source of investment
the overriding provisions the overriding provisions derived from (i) criminal
activities or (ii)
illegitimate source

Application Not applicable to Not applicable to cases Not applicable to the Not applicable
of cases where any where any proceeding case if the relevant
provisions proceeding drawn drawn on/before the assessment is
on/before the day of day of submission of complete
making such return/revised return
investment under under tax/any other law
tax/any other law
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