Tax at source has been imposed on family and all kind of savings certificate. Five per cent tax will be applicable for savings certificate for up to Tk 5 lakh investment.
Finance Minister AHM Mustafa Kamal on Monday afternoon revealed this at a press conference held in the conference room of the Ministry of Finance.For investment above Tk 5 lakh on family savings certificate the tax at source will be ten per cent, Mustafa Kamal added.
However, no benefits and advantages for pensioners and fixed income population have been cut off. They will enjoy all the previous facilities.
An amended circular will be issued in this regard, the minister said. This has been effective from July 1, 2019.
In the budget for fiscal 2019-20, the government imposed a 5 percent tax at source on the profit on savings certificate along with the previous five percent.