Income Tax Manual Part-II – Rule 51-60

Income Tax Manual Part-II – Contents

51. Repayment of withdrawals, etc.—

  1. (1) Where a withdrawal is allowed for a purpose specified in clause (d) or clause (e) of sub-rule (1) of rule 50, the amount withdrawn need not be repaid.
  2. (2) Where a withdrawal is allowed for a purpose other than that referred to in sub-rule (1), the amount withdrawn shall be repaid in not more than twenty-four equal monthly installments and shall bear interest in accordance with rule 52 and subject to the provisions of rule 50(3), no further withdrawal shall be permitted until repayment has been effected in full.

52. Interest on repayment of withdrawals and mode of recovery.—

  1. (1) In respect of withdrawals which are repaid in not more than twelve monthly instalments an additional instalment at the rate of 4 per cent of the amount withdrawn shall be paid on account of interest; and, in respect of withdrawals which are repaid in more than twelve monthly installments, two such instalments at the rate of 4 per cent, of the amount withdrawn shall be paid on account of interest:
  2. Provided that the trustees of the fund may recover interest on the amount withdrawn or the balance thereof outstanding from time to time at 1 per cent, above the rate which is payable for the time being on the balance in the fund at the credit of the member.
  3. (2) The employer shall deduct such installments from the employee’s salary and pay them to the trustees and such deductions shall commence from the second monthly payment made after the withdrawal or, in the case of an employee on leave without pay, from the second monthly payment made after his return to duty.
  4. (3) In case of default of repayment of installments under sub-rules (1) and (2), the Commissioner may order that the amount of the withdrawal of the amount outstanding shall be added to the total income of the employee for the year in which the default occurs and the Deputy Commissioner of Taxes shall assess the employee accordingly.

53. Withdrawal at the time of leave preparatory to retirement,—

  1. Notwithstanding anything contained in rules 50, 51 and 52 the trustees of the recognised provident fund may permit withdrawal of ninety per cent, of the amount standing at the credit of an employee if the employee takes leave preparatory to retirement, provided that if the rejoins duty on the expiry of his leave, he shall refund the amount drawn together with interest at the rate allowed by the fund.

54. Supply of certified copy of accounts maintained outside Bangladesh.—

  1. Where the accounts of a recognised provident fund are kept outside Bangladesh, certi­fied copies of the accounts shall be supplied not later than the fifteenth day of September in each year to a local representative of the employer in Bangladesh.
  2. Provided that the Deputy Commissioner of Taxes may, in any year, fix a date later than the fifteenth day of September as the date by which the certified copies shall be supplied.

55. Limitation on contribution by a shareholder who is an employee,—

  1. Where an employee of a company owns shares in the company, with a voting power exceedign five percent of the whole of such power, the sum of the contributions of the employee and employer to the recognised provident fund main­tained by the company shall not exceed taka 500 in any month.

56. Effect of assignment or charge upon his beneficial interest in a recognised provident fund.—

  1. If an employee assigns or creates a charge upon his beneficial interest to a recognised provident fund, the Deputy Commissioner of Taxes shall, on the fact of the assignment or charge coming to his knowledge, give notice to the employee that if he does not secure the cancellation of the assignment or charge within two months of the date of receipt of the notice, the consideration received for such assignment or charge shall be deemed to be income received by him in the year in which the fact became known to the Deputy Commissioner of Taxes and shall be assessed accordingly.

57. Effect of withdrawal of recognition.—

  1. If the Commissioner withdraws recognition of a recognised provident fund, the balance to the credit of each employee at the end of the financial year prior to the date of the withdrawal of recognition shall be paid to him free of tax at the time when such employee receives the accumulated balance due to him and the remainder of the accumula­ted balance due to him shall be liable to tax as if the fund had never been recognised.

58. Restrictions as respects contribution, etc., by the employers.—

  1. (1) For the purpose of paragraph 3(c) proviso (i) of Part B of the First Schedule to the Ordinance, the employer’s aggregate contribution in any year, including the normal contribution to the individual account of any one employee whose salary does not exceed five hundred taka per menses shall not exceed double the amount of the contribution of the employee in that year.
  2. (2) The amount of the periodical bonuses and other contributions of a con­tingent nature which may be credited by an employer in any year under para­graph 3(c) proviso (ii) of Part B of the First Schedule to the Ordinance to the individual account of an employee shall not exceed the amount of the contri­bution of the employee in that year.

58A. Application for approval of a gratuity fund.—

  1. (1) The application required to be made under sub-paragraph (1) of paragraph 4 of part C of the First Schedule to the Ordinance for approval of gratuity fund shall contain the following information, namely:-
    1. (a) Name and address of employer, his business or profession and principal place of business;
    2. (b) Classes and number of employees entitled to the benefits of the gratuity fund:-
      1. (i) in Bangladesh;
      2. (ii) outside Bangladesh;
    3. (c) The age of retirement of the employees prescribed in the concerned regulations of the organization;
    4. (d) The minimum period of service prescribed in such regulations as condition of eligibility to receive the gratuity in case of termination of employment;
    5. (e) Place, where the accounts of the gratuity fund are or will be maintained;
    6. (f) If the gratuity fund is already is existence, the details of investment of the fund.
  2. (2) A verification in the following form shall be annexed to the application, namely:-
  3. We/I, the trustees/trustee of the above fund, do declare that what is stated in the application is true to the best of our/my information and belief and that the documents annexed herewith are the original or ture copies thereof.

58B. Return, statements, etc., that may be required to be furnished.—

  1. The trustees of an approved gratuity fund and an employer who contributes to an approved gratuity fund may be required by notice from the Deputy Commissioner of taxes under paragraph 8 of Part C of the First Schedule to the Ordinance to-
    1. (a) furnish a return containing such particulars of contributions as the notice may require;
    2. (b) prepare and deliver a return containing-
      1. (i) the name and place of residence of every person in receipt of a gratuity from the fund; and
      2. (ii) the amount of the gratuity paid to each employee; and
    3. (c) furnish a copy of the accounts of the fund together with such other information and particulars as may be reasonable required.

58C. Limits on contribution by the employer.—

  1. (1) the ordinary annual contribution by the employer to an approved gratuity fund in respect of any particular employee shall be made on such reasonable definite basis as may be approved by the Board with regard to the length of service of the employee so that such contribution shall not exceed salary of the employee for the last month of each financial year.
  2. (2) Subject to any condition which the Board may think fit to specify under this rule, the amount to be allowed as a deduction on account of initial contribution which an employer may make in respect of the past services of an employee admitted for the last month of each financial year during the course of his past services with the employer.
  3. (3) Notwithstanding the provisions of sub-rules (1) and (2), an employer may, with the prior approval of the Board, make a special contribution to an approved gratuity fund to meet the deficit in the fund, if any.

58D. Investment or deposit moneys of a gratuity fund.—

  1. All moneys contribution to an approved gratuity fund and interest on the accumulated balances of such contributions shall be deposited of invested in accordance with the provisions of rule 49.

58E. Treatment of consideration in lieu of assignment, etc. of beneficial interest.—

  1. If an employee assigns or creates a chare upon his beneficial interest in an approved gratuity fund, the Deputy Commissioner of Taxes shall, on the fact of the employee that if he does not secure the cancellation on the receipt of the notice, the consideration received for such assignment or charge shall be deemed to be the income received by him in year in which the fact became known to the Deputy Commissioner of taxes and shall be assessed accordingly.

58F. Circumstances in which approval may be withdrawn.—

  1. The Board may withdraw approval awarded under part C of the First Schedule to the Ordinance on the case of a fund which ceases to satisfy the requirements of the said part or fails to fulfill the requirements of rule 58B or 58D.

59. Form of application for seeking exemption from tax to be made by a company.—

  1. An application under clause (f) of sub-section (2) of section 46A of the ordinance for approval for the purposes of that section in respect of an industrial under taking, tourist industry or physical infrastructure facility shall be made in the following from, in duplicate, duly signed and verified by the Managing Director or form of Application under section 46A of the Ordinance:
  2. From of Application under section 45/46 of the Income Tax Ordinance, 1984 (XXXVI of 1984)

  3. (i) The name of the company:
  4. (ii) Date of incorporation of the company;
  5. (iii) Location of its registered office (with full address);
  6. (iv) The location of the industrial undertaking/ tourist industry/ physical infrastructure facility;
  7. (v) Tax Identification Number (TIN) and name of the Zone of Commissioner of Taxes and the circle of the Deputy Commissioner of Taxes under whose jurisdiction the company is assessed or will be assessed;
  8. (vi) Date of opening of the letter of credit;
  9. (vii) Date on which the machinery installed was ready for production/ operation/service;
  10. (viii) Date or dates on which the industrial undertaking/ tourist industry/ physical infrastructure facility for which approval is sought started—
    1. (a) trial production/operation/service;
    2. (b) commercial production/operation/service;
  11. (ix) Date on which the issued, subscribed and paid up capital of the company reached the figure of taka one lakh;
  12. (x) The present paid up capital of the company;
  13. (xi) Authorised share capital of the company;
  14. (xii) Amount of share capital issued;
  15. (xiii) Amount of investment involved in setting up and running the industrial undertaking/tourist industry/physical infrastructure facility for which approval is sought;
  16. (xiv) Minimum number of employees required to be engaged in one shift;
  17. (xv) whether the industrial undertaking/tourist industry/physical infrastructure facility uses electric energy or gas (the date or which the electricity or gas connection was physically given should be mentioned);
  18. (xvi) Value added tax (VAT) Registration Number/Turn over tax number;
  19. (xvii) Exact nature of business of the industrial undertaking/ tourist industry/physical infrastructure facility and in case of an industrial undertaking the list of items manufactured;
  20. (xviii) Raw materials to be used in the industrial undertaking;
  21. (xix) Whether any building plant or machinery has been taken on rent or lease for the industrial undertaking/tourist industry/ physical infrastructure facility; if so, detailed description shall be given;
  22. (xx) Name and address of the Managing Director and Directors of the company with particulars of their holdings and interest in the company and other companies or enterprises.
  23. Date …………………………………….. Signature of the
    Managing Director/Director
  24. VERIFICATION

  25. I, ………………….., do hereby solemnly affirm that the information given above is correct and complete.
  26. Date …………………………………….. Signature of the
    Managing Director/Director
  27. *Delete whichever is inapplicable.

  28. (2) The application shall be accompanied by—
    1. (a) an attested copy of certificate of incorporation;
    2. (b) an attested copy of the certificate of commencement of business;
    3. (c) an attested copy of the letter of the Government conveying sanction to the issue of capital;
    4. (d) an attested copy of the Memorandum and Articles of Association of the company;
    5. (e) in case the company has already commenced business, certified copy of the audited balance sheets and profit and loss accounts for the three latest completed years or any lesser period for which the accounts have been prepared (for an incomplete year trial balance may be submitted);
    6. (f) an attested copy of the complete scheme of the unit as submitted to the Government at the time of obtaining the sanction;
    7. (g) a certified copy of blue print of the building where the industrial under­taking/tourist industry for which exemption of income sought is located, showing the installed position of the machinery; and
    8. (h) in case the industrial undertaking/tourist industry for which approval is sought has been acquired from another party, an attested copy of the agreement between the applicant company and the seller entered into for the acquisition of the undertaking/industry with list and value of assets acquired.
  29. (3) The application shall be accompanied by—
    1. (i) an attested copy of the certificate of incorporation;
    2. (ii) an attested copy of the certificate of commencement of business;
    3. (iii) an attested copy of the Memorandum and Articles of Association of the company;
    4. (iv) in case the company has already commenced business, certified copy of the audited balance sheet and profit and loss accounts for the period for which the accounts have been prepared (for and incomplete year trial balance may be submitted);
    5. (v) in case the industrial undertaking/tourist industry/physical infrastructure facility for which approval is sought has been acquired from another party, an attested copy of the agreement between the applicant company and the seller entered into for the acquisition of the undertaking/tourist industry/physical infrastructure facility with list and value of assets acquired;
    6. (vi) a certificate to the effect that industrial undertaking/tourist industry/physical infrastructure facility has not applied or shall not apply for accelerated depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance in the following form, namely:-
  30. “I hereby certify that no application in respect of the industrial undertaking/tourist industry/physical infrastructure facility ……………. (name of the undertaking, etc.) has been made or shall be made to the Board for, and that the said industrial undertaking/tourist industry/physical infrastructure facility has not been allowed, accelerated depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance, for any period.
  31. Place……………………………………..
    Date ……………………………………..
    Signature of the
    Managing Director/Director
  32. (4) If the Board is satisfied that the company setting up the industrial undertaking or tourist industry is one which should be approved for the purposes ofsection 45 or, as the case may be, section 46 of the Ordinance, it shall make an order to that effect and send a copy thereof to the company.

[59A. Form of application to be made by a company for exemption form tax under section 46B of the Ordinance.—

  1. (1) An application under clause (e) of sub-section (4) of section 46B of the Ordinance for approval for the purposes of that section in respect of an industrial undertaking, shall be made in the following form, in duplicate, duly signed and verified by the Managing Director or Director of the company, namely:-
  2. From of Application under section 46B of the Income-tax Ordinance, 1984 (XXXVI of 1984).

    1. (i) Name of company:
    2. (ii) Date of incorporation of the company:
    3. (iii) Location of its registered office (with full address):
    4. (iv) Location of the industrial undertaking:
    5. (v) Tax Identification Number (TIN) and name of the Zone of Commissioner of Taxes and the Circle of Deputy Commissioner of Taxes under whose jurisdiction the company is assessed or will be assessed:
    6. (vi) Date of opening of the letter of credit:
    7. (vii) Date on which the machinery installed was ready for production:
    8. (viii) Date or dates on which the industrial undertaking/tourist industry/physical infrastructure facility for which approval is sought stated-
      1. (a) trial production:
      2. (b) commercial production:
    9. (ix) Date on which the issued, subscribed and paid up capital of the company reached the figure of take two million:
    10. (x) The present paid up capital of the company:
    11. (xi) Authorized capital of the company:
    12. (xii) Amount of share capital issued:
    13. (xiii) Amount of investment involved in setting up and running the industrial undertaking/tourist industry/physical infrastructure facility for which approval is sought:
    14. (xiv) Minimum number of employees required to be engaged in one shift:
    15. (xv) Whether the industrial undertaking uses electric energy or gas (the date on which the electricity or gas connection was physically given should be mentioned):
    16. (xvi) Value Added Tax (VAT) Registration Number/Turn over tax Number:
    17. (xvii) List of items manufactured:
    18. (xviii) Raw materials to be used in the industrial undertaking:
    19. (xix) Whether any building, plant or machinery has been taken on rent or lease for the industrial undertaking if so detailed description shall be given:
    20. (xx) Names, addresses and TINs of the Managing Director and Directors of the company with particulars of their holdings and interest in the company and other companies or enterprises:
  3. Date …………………………………….. Signature of the
    Managing Director/Director
  4. VERIFICATION

  5. I, ………………….. do hereby solemnly affirm that the information given above is correct and complete.
  6. Date …………………………………….. Signature of the
    Managing Director/Director
  7. *Delete whichever is inapplicable.

  8. (2) The application shall be accompanied by—
    1. (i) an attested copy of certificate of incorporation;
    2. (ii) a certificate of commencement of business;
    3. (iii) an attested copy of the Memorandum and Articles of Association of the company;
    4. (iv) in case the company has already commenced business, certified copy of the audited balance sheet and profit and loss accounts for the period for which the accounts have been prepared (for an incomplete year trial balance may be submitted);
    5. (v) in case of industrial undertaking for which approval is sought has been acquired for another party, an attested copy of the agreement between the applicant company and the seller enter into for the acquisition of the industrial undertaking with list and value of assets acquire;
    6. (vi) a certificate to the effect that the industrial undertaking has not applied or shall not apply for accelerated, depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance in the following form, namely:-
  9. “I hereby certify that no application in respect of the industrial undertaking………….. (name of the undertaking etc.) has been made or shall be made to the Board for, and that the said industrial undertaking has not been allowed, accelerated depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance for any period.
  10. Place……………………………………..
    Date ……………………………………..
    Signature of the
    Managing Director/Director
  11. (3) On receipt of an application under sub-rule (1), the Board may make such enquires as it may consider necessary and may call for such further particulars as if may think fit.
  12. (4) If the Board is satisfied that the company setting up the industrial undertaking or the tourist industry or the physical infrastructure facility or the expansion unit thereof is one which should be approved for the purposes of section 46B of the Ordinance, it shall make an order to that effect and send a copy thereof to the company.
  13. (5) where the Board has passed an order in writing refusing to approve the industrial undertaking or the tourist industry or the physical infrastructure facility or the expansion unit thereof for purposes of section 46B of the Ordinance, the person aggrieved by such order may make an application in writing to the Chairman of the Board for review who will either himself review the order or may constitute a committee consisting of three Members of the Board to review the same. The review order shall be passed after giving the applicant an opportunity of being heard and the decision of the review shall be final and conclusive.]Added by S.R.O. No. 232/F.A. 2011/05-07-2011

[59AA. Form of application to be made by a physical infrastructure facility for exemption from tax under section 46C of the Ordinance-

  1. (1) An application under clause (d) of sub-section (3) of section 46C of the Ordinance for approval for the purposes of that section in respect of a physical infrastructure facility shall be made in the following form, in duplicate, duly signed and verified by the managing Director or Director of the company, namely-
    Form of application under section 46C of the Income-tax Ordinance, 1984(XXXVI of 1984).

    1. (i) Name of the company:
    2. (ii) Date of incorporation of the company:
    3. (iii) Location of its registered office (with full address):
    4. (iv) Location of the physical infrastructure facility:
    5. (v) Tax Identification Number (TIN) and name of the Zone of Commissioner of Taxes and the Circle of Deputy Commissioner of Taxes under whose jurisdiction the company is assessed or will be assessed:
    6. (vi) Date of opening of the letter of credit;
    7. (vii) Date or dates on which the physical infrastructure facility for which approval is sought started
      1. (a) Trial operation:
      2. (b) Commercial operation:
    8. (viii) Date on which the issued, subscribed and paid up capital of the company reached the figure of taka two million;
    9. (ix) The present paid up capital of the company:
    10. (x) Authorized capital of the company:
    11. (xi) Amount of share capital issued;
    12. (xii) Amount of investment involved in setting up and running the physical infrastructure facility for which approval is sought;
    13. (xiii) Minimum number of employees required to be engaged:
    14. (xiv) Whether the physical infrastructure facility uses electric energy or gas (the date on which the electricity of gas connection was physically given should be mentioned):
    15. (xv) Value added Tax (VAT) Registration Number/Turn over tax Number (if required):
    16. (xvi) Exact nature of business of the physical infrastructure facility:
    17. (xvii) Names, addresses and TINs of the Managing Director and Directors of the company with particulars of their holdings and interest in the company and other companies or enterprises:
  2. Date …………………………………….. Signature of the
    Managing Director/Director
  3. Verification

  4. I, ……………………..do hereby solemnly affirm that the information given above is correct and complete.
  5. Signature of the
  6. Managing Director/Director.
  7. (2) The application shall be accompanied by-
    1. (i) an attested copy of certificate of incorporation;
    2. (ii) a certificate of commencement of business;
    3. (iii) an attested copy of the Memorandum and Articles of Association of the physical infrastructure facility company;
    4. (iv)in case the physical infrastructure facility has already commenced business, certified copy of the audited balance sheet and profit and loss accounts for the period for which the accounts have been prepared (for an incomplete year trail balance may be submitted);
    5. (v) in case the physical infrastructure facility for which approval is sought has been acquired from another party, an attested copy of the agreement between the applicant company and the seller enter into for the acquisition of the physical infrastructure with list and value of assets acquire;
    6. (vi) a certificate to the effect that the physical infrastructure facility has not applied or shall not apply for accelerated depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance in the following form, namely:
  8. “I hereby certify that no application in respect of the physical infrastructure facility……………….(name of the undertaking etc.) has been made or shall be made to the Board for, and that the said physical infrastructure facility has not been allowed, accelerated depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance for any period.
  9. Place……………………………………..
    Date ……………………………………..
    Signature of the
    Managing Director/Director
  10. (3) On receipt of an application under sub-rule (1), the Board may make such enquirers as it may consider necessary and may call for such further particulars as if may think fit.
  11. (4) If the Board is satisfied that the company setting up the physical infrastructure facility for the purposes of section 46C of the Ordinance, it shall make an order to that effect and send a copy there of to the company.
  12. (5) Where the Board has passed an order in writing refusing to approve the physical infrastructure facility for purposes of section 46C of the Ordinance, the person writing to the Chairman of the Board for review, who will either himself review the order or may constitute a committee consisting of three Members of the Board to review the same. The review order shall be passed after giving the applicant an opportunity of being heard and the decision of the review shall be final and conclusive.]Added by S.R.O. No. 232/F.A. 2011/05-07-2011

59B. Form of application of tax exemption for foreign technician.—

  1. (1) An application under paragraph 15 of Part-A of the Sixth Schedule of the Ordinance for approval for tax exemption for foreign technician shall be made in the following form, if duplicate, duly signed and verified.
  2. Form of application under paragraph 15 of part-A of the Sixth Schedule.

  3. The First Secretary (Approval)
  4. National Board of Revenue,
  5. Government of the People’s Republic of Bangladesh, Dhaka.
  6. Under paragraph-15 of part-A of the Sixth Schedule of the Income Tax Ordinance, 1984 (XXXVI of 1984) the undertaking…………….applies for approval of the enclosed service contract with the foreign technician.
  7. The necessary particulars/ information are given below:
  8. PARTICULARS

  9. 1. Name of Technician :
  10. 2. Nationality :
  11. 3. Educational qualification :
  12. 4. Designation or post in which he is to be employed in Bangladesh :
  13. 5. Details of previous experience (if any) :
  14. 6. Date of joining in present service :
  15. 7. Exact period of employment :
  16. 8. The actual date of arrival in Bangladesh for joining the present post :
  17. 9. Period of stay in Bangladesh year No. of days in the previous four years :
  18. 10. Particulars of employer company’s operation:
    1. (a) Name and address of company :
    2. (b) Nature of business :
    3. (c) Date of incorporation :
    4. (d) Tax payers Identification Number
      1. (TIN):……………..
      2. Circle:………………
      3. Zone:………………….
    5. (e) Date of completion of factory building :
    6. (f) Date of installation of plant and machinery :
    7. (g) Date of electric connection :
    8. (h) Date of trial operation :
    9. (i) Date of commercial operation :
    10. (j) No. of persons employed in the undertaking:
  19. Date…………………………… Signadure:………………..
    Name of Designation
    of the employer.
  20. DECLARATION

  21. I……………. solemnly declare that the information furnished about me in the above application dated the…………… for approval of the contract of my service under paragraph 15 of part-A of the Sixth Schedule to the Income Tax Ordinance, 1984 is correct to the best of my knowledge and belief. I also declare that I am a citizen of…………………
  22. Date…………………………… Signadure:………………
    Name of Designation
    of the technician.
  23. 2. The application shall be accompanied by:–
    1. (a) Copy of word permit of Board of Investment/ Ministry of Home.
    2. (b) Copy of contract of service of the technician.
    3. (c) Copy of memorandum and Articles of Association of the employer’s company.
    4. (d) Copy of certificate of incorporation of the employer’s company.
    5. (e) Photocopy of passport with visa.
    6. (f) Evidences of previous experience.
    7. (g) Copy of certificates of academic/technical qualification.
  24. (3) On receipt of an application under sub-rule (1), the Board may make such inquiries as it may consider necessary and may call for such further particulars/information as it may think fit.
  25. (4) If the Board is satisfied that the technician should be approved for the purposes of paragraph 15 of Part-A of the Sixth Schedule, it shall make an order to that effect and send a copy thereof to the applicant.

[60.]Deleted F. A. 1995

[60A.]Deleted F. A. 1995

[60B.]Deleted F. A. 1995


  1. [60. Application by company or other body corporate for approval by the Board for exemption of investments by an assessee not being a company.—
    1. (1) A company or a body corporate desiring to be declared as a company engaged in or formed for the purpose of earring on an approved industrial undertaking in Bangladesh within the meaning of paragraph 8 of Part B of the Sixth Schedule to the Ordinance shall make an application to the Board duly filled in the form given hereunder:—
    2. Form of A pplication for Approval under paragraph 8 of Part B of the §ixth Schedule to the Income Tax Ordinance, 1984 (XXXVI of 1984).
    3. (1) Name of the company:
    4. (2) Location of its registered office:
    5. (3) The location of the industrial undertaking and if the undertaking has not yet been set up, the place where it is intended to be set up:
    6. (4) Date of incorporation:
    7. (5) Date of commencement of business, if any:
    8. (6) Whether it is a public company as defined by the Companies Act, 1913 (VII of 1913) and listed in a Stock Exchange:
    9. (7) Whether it is a subsidiary company of a company falling within the description of item (6) above, and if so—
      1. (i) whether the whole of its share capital is held by the parent company :
      2. (ii) whether the whole of the share capital is held by the nominees of the parent company :
      3. (iii) the name(s) and address(es) of the parent company or the nominees there­of, as the case may be :
    10. (8) Whether the approval of the Government has been obtained to the capital issue; if so, the amount permitted to be issued :
    11. (9) Authorised share capital of the company and classes of shares and their value :
    12. (10) The amount of share capital issued or proposed to be issued and the classes of shares and their value :
    13. (11) If the business has already commenced, the number of employees engaged in the undertaking:
    14. (12) If the business has not commenced, the minimum number of employees expee ted to be engaged :
    15. (13) Whether the undertaking involves or will involve the use of—
      1. (i) electrical energy :
      2. (ii) any other form, of energy which is mechanically transmitted and is not generated by human or animal agency:
    16. (14) Whether it is—
      1. (i) an undertaking engaged in the manu­facture of goods or materials or the subjection of goods or materials to any such process (the exact nature of the undertaking should be stated):
      2. (ii) an undertaking engaged in shipbuild­ing and navigation :
      3. (iii) electricity undertaking (that is, an under­taking for the transformation, generation, conversion, transmission or distribution of electrical energy):
      4. (iv) hydraulic power undertaking (that is, an undertaking for the supply of hydraulic power):
      5. (v) an undertaking engaged in the working of a—
        1. (a) mine :
        2. (b) oil-well:
        3. (c) any other source of mineral depo­sits (to be specified):
      6. (vi) any other class of undertaking and if so—
        1. (a) whether it has been declared to be an undertaking to which section 45 or 46 of the Ordinance is applicable :
        2. (b) if such declaration has not been made, whether an application for that purpose has been made and date of such application :
  2. Date……………………………….. Signature of the
    Managing Director/Director
    1. VERIFICATION

    2. I, ………………...…….. do hereby solemnly affirm that the informa­tion given above is correct and complete.
  3. Place ……………………………….
    Date ………………………………..
    Signature of the
    Managing Director/Director
    1. * Deletewhichever is inapplicable.
    2. (2) The application shall be accompanied by the following documents, namely :—
      1. (a) Certificate of incorporation, with an attested copy thereof;
      2. (b) Certificate of the commencement of business, if any, with an attested copy thereof;
      3. (c) An attested copy of the Memorandum and Articles of Association;
      4. (d) An attested copy of the letter from the Government authorising the issues of the capital;
      5. (e) In the case of the company that has already commenced business certified copies of the audited balance sheets and profit and loss accounts for the three latest years (or any lesser period for which the accounts have been prepared); and
      6. (f) The names and addresses of the Managing Director and other Directors and their shareholdings.
    3. (3) On receipt of the application under sub-rule (1), the Board may make such enquiries and call for further information as it may deem necessary.
    4. (4) If the Board is satisfied that the company should be declared as an approved industrial undertaking within the meaning of paragraph 8 of Part 8 of the Sixth Schedule to the Ordinance, it shall make an order to that effect and send a copy thereof to the company.] Deleted 1995
  4. 60A. Application by an insurance company or approval by the Board for exemption of investments by an assessee not being a company.-
    1. (1) A company or a body corporate desiring to be declared as a company engaged in or formed for the purpose of carrying on the business of life insurance or general insurance in Bangladesh within the meaning of paragraph 8 of part B of THE SIXTH SCHEDULE to the Ordinance shall make an application to the Board duly filled in the form given hereunder;
    2. Form of Application for Approval under paragraph 8 of Part B of THE SIXTH SCHEDULE to the Income Tax Ordinance, 1984 (XXXVI of 1984)

    3. (1) Name of the company:
    4. (2) Location of its registered office:
    5. (3) Date of incorporation:
    6. (4) Date of commencement of business, if any:
    7. (5) Nature of business:
    8. (6) Where it is a public company as defined by the Companies Act, 1913(VII of 1913) and listed in a Stock Exchange
    9. (7) Whether it is a subsidiary company of a company falling within the description of item:
      1. (i) whether the whole of its share capital is held by the parent company:
      2. (ii) whether the whole of the share capital is held by the nominees of the parent company:
      3. (iii) the name(s) and address(es) of the parent company of the nominees there of, as the case may be:
    10. (8) Whether the approval of the Government has been obtained to the capital issue; if so, the amount permitted to be issued:
    11. (9) Authorized share capital of the company and classes of shares and their value:
    12. (10) The amount of share capital issued or proposed to be issued and the classes of shares and their value:
    13. Date …………………………………….. Signature of the
      Managing Director/Director
    14. Verification

    15. I, ………………………………………….., do here by solemnly affirm that the information given above is correct and complete.
    16. Date …………………………………….. Signature of the
      Managing Director/Director
    17. *Delete whichever is inapplicable.

    18. (2) The application shall be accompanied by the following documents, namely-
      1. (a) Certificate of incorporation, with an attest copy there of;
      2. (b) Certificate of the commencement of business, if any, with an attested copy there of;
      3. (c) An attested copy of the Memorandum and Articles of Association;
      4. (d) An attested copy of the letter from the Government authorizing the issues of the capital;
      5. (e) In the case of the company that has already commenced business certified copies of the audited balance sheets and profit and loss accounts for the three years (or any lesser period for which the accounts have been prepared); and
      6. (f) The name and address of the Managing Director and other Directors and their shareholdings;
    19. (3) On receipt of the application under sub-rule (1), the Board may make such enquirers and call for further information as it may deem necessary.
    20. (4) If the Board is satisfied that the company should be declared as an approved industrial undertaking within the meaning of paragraph 8 of Part B of THE SIXTH SCHEDULE of the Ordinance, it shall make an order to the effect and send o copy there of the company.
  5. [60B. Application by a body corporate being a finance corporation sponsored by the Government for exemption of investments by an assessee not being a company;-
    1. (1) A body corporate being a finance corporation sponsored by the Government desiring to be declared by a body corporate engaged in or formed for the purpose of carrying on the business of investment in of advancing loans to industrial, agricultural or house building sectors in Bangladesh within the meaning of paragraph 8 of part B of THE SIXTH SCHEDULE to the ordinance shall made an application to the Board duly filled in the form given hereunder:
    2. (1) Name of the body corporate:
    3. (2) Location of its registered office:
    4. (3) Date of incorporation, if applicable:
    5. (4) Date of commencement of business; if any;
    6. (5) Nature of business;
    7. (6) Whether the body corporate has been established by or under an Act of parliament:
    8. (7) Whether the approval of the Government has been obtained to the capital issue; if so, the amount permitted to be issued:
    9. (8) Authorised share capital of the body corporate and classes of share and their value:
    10. (9) The amount of share capital issued or propose to be issued and the classes of shares and their value:
  6. Date …………………………………….. Signature of the
    Managing Director/Director
    1. VERIFICATION

    2. I, ………………………do hereby solemnly affirm that the information given is correct and complete.
  7. Date …………………………………….. Signature of the
    Managing Director/Director
    1. (2) The application shall be accompanied by the following documents, namely:
      1. (a) The Act of parliament by which the body corporate was established with an attested copy thereof;
      2. (b) Certificate of the commencement of business, if any, with an attested copy thereof;
      3. (c) An attested copy of the letter from the Government authorising the issues of the capital;
      4. (d) In the case of a body corporate that has already commenced business, certified copies of the audited balance sheet and profit and loss accounts for the last three years (or any lesser period for which the accounts have been prepared); and
      5. (e) The name and addresses of the managing Director and other Directors and their shareholdings, if any;
    2. (3) On receipt of the application under sub-rule (1), the Board may made such inquires and call for further information as it may deem necessary.
    3. (4) If the Board is satisfied that the body corporate should be declared as an approved undertaking within the meaning of paragraph 8 of part B of THE SIXTH SCHEDULE to the Ordinance, it shall made an order to that effect and send a copy thereof to the body corporate.] Deleted 1995