(1) Anything in respect of exemption from tax on profits received on savings certificates   purchased with the money of superannuation fund or pension fund or gratuity fund or recognized provident fund or workers’ participation fund authorized by any other provision of this Act or any other law, any person responsible for payment of profit on savings certificates shall deduct tax  at the rate of 10% (ten percent) on such payment.

(2) No tax shall be deducted under this section from the profit earned from such investment if the accumulated investment in pensioner’s savings certificate in any income year does not exceed Tk. 5 (five) lakh.

(3) No tax shall be deducted from interest or dividends arising from Foreign Exchange Eamer Development Bonds, US Dollar Premium Bonds, US Dollar Investment Bonds, Euro Premium Bonds, Euro premium Bonds.