For the purposes of this section,-

(1) the words “person liable for payment”, shall mean-

(a) any such payment deemed to be income under the head “Income from Employment” shall include the employer himself or where the employer is a local authority, company or institution, such authority, company or institution and its chief officer;

(b) in respect of any payment under the heading “Income from Financial Assets”, any body, company or other institution issuing the said financial asset or the principal officer of such body, company or institution; and

(c) in respect of any other payment treated as taxable income under this Act or to which deduction or collection of tax at source is applicable under this Part, includes the principal officer of the payer himself or a company or other body making the payment;

(2) “Agreement” shall include a sub-agreement, sub-sub-agreement, subsequent agreement,

 agreement or arrangement by whatever name called;

(3) “Specified person” means-

(a) any company, firm, association, 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, other than a specified person, by whatever name called, having an annual turnover exceeding Tk. 1 (one) crore;

(f) hotels, community centers, transport agencies with annual turnover exceeding Tk. 1 (one) crore;

(g) any person other than a farmer engaged in the production and supply of tobacco leaves, cigarettes, bidis, jorda, gul and other tobacco products;

(4) “Payment” includes transfer, credit, adjustment of payment or order or direction to make any payment;

(5) “Base Price” shall mean the higher of the following 3 (three) items:

(a)contract price;

(b) the amount of the bill or invoice; or

(c) Payment.