(1) Any person making sale, by public auction through sealed tender, of any goods or property belonging to the specified owner shall, before delivering the possession of the goods or the property or allowing to exercise the rights, collect tax at the rate of 10% (ten percent) of the total sale price of such goods or property.

(2) The rate of collection shall be 1% (one percent) in case of sale of tea by public auction.

(3) Deduction of tax under this section shall not apply in the case of sale of land in the form of plots by public auction.

(4) For the purposes of this section,—

(a) “sale of any goods or property” includes lease of any goods or property, lease of jalmahal, sand quarry, sairatmahal, lease of rights of any kind, the right to award a lease in the name of any person with the right of collection of octroi duties or other applicable taxes, called by whatever name, but does not include the sale of any plot of land;

(b) “specified owner” means any corporation or body including the Government or any other authority, unit, the activities or main activities of which are authorized by any Act, Ordinance, order or instrument having the force of law, or any other entity or company authorized or established under any law in force in Bangladesh.