Income tax anomalies
According to an earlier government order a sanchaypatra holder who had submitted statement of sanchaypatras purchased by him, had to pay income tax for income above Tk 25,000/-. Subsequently, income up to Tk 1,50,000/- was precluded from taxation, and this order was given retrospective effect to from 1-7-2007 vide Income Tax (Modified) Ordinance, 2007 (Ordinance No 32, 2007) as passed on 29-10-2007. It further enjoined that the excess payment of I/T so made during this period would be paid back to the taxpayer or adjusted against his tax liability. The Income Tax Fixation Ordinance, 2008 and the Income Tax Fixation Supplementary Ordinance, 2008 (Finance Ordinance, 2008), have raised the ceiling of tax from Tk 1,50,000/- to Tk 1,65,000/- for general public and to Tk 1,80,000/- for women and people above 70. But despite the said statutory limits of tax from income, the agencies obtain the statement of sanchaypatras from an individual and realise income tax for income below Tk 1,80,000/- from a woman or a person above 70. Nor do they adjust the refundable excess amount earlier realised while deducting tax.
We would like to draw the attention of the Finance Adviser to this anomaly.
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