1. Applicability.—

This Part shall apply for resident ²[individual] assessee and non-resident Bangladeshi ³[individual] assessee.

2. Applicable eligible investments and allowances for general tax rebate.—

General tax rebate shall be applicable in respect of the following investments and expenditure, namely:—

(1) Any sum paid by a assessee, being an individual, to effect an insurance, or a contract for deferred annuity, on the life of the assessee or on the life of a wife or husband or a minor child of the assessee, subject to the limit of such payment, in the case of insurance, to 10% (ten percent) of the actual sum assured (excluding bonus or other benefits).

(2) Any sum paid by a assessee, being a Hindu undivided family, to effect an insurance on the life of any male member of the family or the wife of any such member:

Provided that no exemption under this paragraph or paragraph

(1) shall be allowed unless the premium and the proceeds of the life insurance policy or the contract for deferred annuity, as the case may be, are both payable in Bangladesh;

(3) Any sum deducted from salary payable by or on behalf of the Government to any individual, being a sum deducted in accordance with the conditions of his service for the purpose of securing to him a deferred annuity or of making provisions for his wife or children:

Provided that the sum so deducted shall not exceed one-fifth of the salary;

(4) Any sum paid by the assessee as a contribution to any Provident Fund to which Provident Fund Act, 1925 (Act No. 19 of 1925), applies;

(5) Any sum representing the assessee’s ⁴[and] the employer’s contribution to a recognized Provident Fund in which the assessee is a participant subject to the limits laid down in Part 3 of the
Second Schedule;

(6) Any sum paid by the assessee as ordinary annual contribution to approved Superannuation Fund in which the assessee is a participant;

(7) Any amount invested in the following in any income year, namely:—

(a) Government securities not exceeding Taka 5 (five) lakh;

(b) Unit certificate and mutual fund, ETF or joint investment scheme unit certificate issued by any ⁵[finance company] or Investment Corporation of Bangladesh or asset manager or fund manager not exceeding 5 (five) lakh of Taka;

(c) an amount not exceeding Taka 1 (one) lakh and 20 (twenty) thousand in deposit pension scheme sponsored by a scheduled bank or a ⁶[finance company].

⁷[ (d) any amount of contribution payable to Universal Pension Scheme; ]

(8) Any sum invested by a assessee, in any securities listed any stock exchange under Bangladesh Securities and Exchange Commission;

(9) Any sum paid as donation by an assessee to a charitable hospital which is established outside the city corporation area one year before such payment and is approved by the Board for this purpose;

(10) Any sum paid as donation by an assessee to an organization set up for the welfare of retarded people, established at least one year before such payment and is approved by the Social Welfare Department and by the Board for this purpose;

(11) Any sum paid by an assessee as Zakat to the Zakat Fund or as donation or contribution to a charitable fund established by or under the Zakat Fund Management Act 2023 (Act No. 5 of 2023);

(12) Any sum paid by an assessee, in order to make provision for his wife, children or other persons’ dependent on him, to a benevolent fund or any premium paid under a group insurance scheme if such fund or the scheme is approved by the Board for this purpose;

(13) Any sum paid by an assessee as donation to a philanthropic or educational institution which is approved by the Government for this purpose;

(14) Any sum paid by an assessee as donation to a national level institution set up in memory of the liberation war;

(15) ⁸[***]