(1) Subject to the other provisions of this section, every natural tax payer shall compulsorily file return of assets and liabilities if such person-

(a) owns a total property of more than Tk. 40 (forty) lakhs as on the last date of the income year; or

(b) owns a motor vehicle at any time during the income year; or

(c) invests in house property or apartment in the relevant income year within the City Corporation area; or

(d) owns any asset abroad at any time during the income year; or

(e) a shareholder director of a company:

Provided that, subject to compliance with the provisions of this sub-section, all public servants shall compulsorily file return of the assets and liabilities.

(2) Every resident Bangladeshi natural tax payer shall file in his return statement of all assets and liabilities situated in Bangladesh and outside Bangladesh.

(3) Every non-resident Bangladeshi ordinary taxpayer shall file in his return statement of all assets and liabilities situated in Bangladesh.

(4) Every such foreign ordinary taxpayer who is not a Bangladeshi shall file in his return of all assets and liabilities situated in Bangladesh.

(5) Even if it is not mandatory for a normal taxpayer to file a return of all assets and liability under sub-section (1), may voluntarily file a return of all assets and liabilities .

(6) In the return of assets and liabilities of a normal taxpayer, the assets and liabilities of the spouse or minor children of the concerned person shall also be filed if they do not have separate TINs.

(7) The Deputy Commissioner of Taxes may, by notice in writing, require any person to file a statement of assets and liabilities for any income year, if-

 (a) the said person has not filed the statement of assets and liabilities in the relevant income year; or

(b) The said assets and liabilities appear to be necessary for determining the tax liability of the said taxpayer for the relevant income year.