For the purposes of this Part,

(1) “person responsible for payment” means—

(i) in respect of any payment deemed to be income under the head “Income from employment”, the employer himself, or where any local authority, company or institution is the employer, such authority, company or institution and shall also include the Principal Officer thereof;

(ii) in the case of any payment under the heading “Income from Financial Assets”, any agency, company or other institution issuing the said financial asset or the Principal Officer of such agency, company or institution; and

(iii) in respect of any other payment treated as taxable income under this Act, or any other payment to which deduction or collection of tax at source is applicable under this Part, the payer himself or, where the payer is a company or other body, shall also include the Principal Officer thereof;

(2) “contract” includes a sub- contract, sub-sub-contract, subsequent contract, agreement or arrangement, called by whatever name;

(3) “specified person” means—

(a) any company, firm, association of persons, any trust or fund;

(b) public-private partnership;

(c) any foreign contractor, foreign enterprise or any association or organization established outside Bangladesh;

(d) any hospital, clinic or diagnostic center;

(e) any e-commerce platform with a turnover of more than Taka 1 (one) crore per annum, other than any other specified person, by whatever name called;

(f) any hotel, ¹[resort, motel, restaurant, convention center,] community center, transport agency with a turnover of more than Taka 1 (one) crore per annum;

(g) a person other than a farmer engaged in production and supply of tobacco leaf, cigarette, bidi, jorda, gul and other tobacco products;

(4) “payment” includes transfer, credit, adjustment of payment or any payment order or instructions;

(5) “base value” means any of the following 3 (three) items whichever is higher,-

(i) contract value;

(ii) amount in the bill or invoice; or

(iii) payment.