Proposed Changes in the Budget 2021-2022
* Minimum Tax for Individual Tax payer business income is proposed to be reduced from .50% to .25%
* Tax Rate for publicly traded/listed company is reduced from 25% to 22.5%
* Tax Rate for private Lt. company is reduced from 35% to 32.5%
* Private University, Medical College & Engineering Colleges are going to be liable for tax 15%
* Publicly Traded provider of Mobile Financial Services (MFS) are proposed as like as publicly listed Banks & insurance Company.
* One Person Company -OPC ( Sole Proprietorship Company) tax rate has fixed 25%
* Company will get tax concession @5% on tax liability or 75% of salary for 3rd gender whichever is less if they employ 3rd gender employee.
* There is no change in individual tax rate and tax slab.
* Surcharge on net wealth has cancelled if no income and minimum surcharge has proposed to abolish.
* Sucharge has proposed 3-10 crore-10%, 10-20 crore-20%, 20-50 crore-30%, Above 50 crore-35%
* Highest tax rate has proposed to increase from 10% to 15% for agricultural income
* Proposed TDS at supply stage 0-50 lac 3%, 50-2 Crore 5%, Above 2Crore 7%
* Import and supply stage tax rate has been reduced from 3% to 2% for cement & Rod; this may help little in current price increased trend.
* Electricity bills are coming under withholding tax clause, details will in approved budget.
* Tax amount up to 5 lac to be deposited through automated challan.
* 20 years tax exemption has proposed for mega project for more than 100 crore investment in three and four wheeler manufacturing company
* 10 years tax exemption has proposed for Home Appliance, i.e washing machine, blander, microwave oven, electric sewing machine, induction cooker, kitchen hood etc.
* 10 years tax exemption has proposed for Agricultural development manufacturing company.
* 10 years tax exemption has proposed for IT Hardware Based companies.
* 10 years tax exemption has proposed for making entrepreneur of light Engineering and creating employment opportunity.
* 10 years tax exemption has proposed for development of industry of agriculture and making entrepreneur.
* Extra new 6 sectors like Cloud Service, System integration, e-learning platform, e-book publications, Mobile Application development service, and IT Freelancing are declared as tax free with existing 22 sectors in Bangladesh Digital Transformation.
* 10 years tax exemption has proposed for hospital outside Dhaka, Narayangonj, Gazipur and Chittagong (250 Bed General or 200 Bed specialized hospital)
* Women SME investor will get tax exemption 70 lac turnover
* Profit from islami bond Shukuk has declared as tax free
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