(1) Every ¹[individual] assessee shall mandatorily furnish a statement of expense relating to life style in the return, if—

(a) the income of the said person in the relevant income year exceeds 5 (five) lakh Taka;

(b) the person acquires ownership of any motor vehicle at any time during the relevant income year;

(c) the person derives any income from the business;

(d) the person being a shareholder director of any company; or

(e) the person invests in house property or apartment within a City Corporation area during the relevant income year.

(2) The Deputy Commissioner of Taxes, by notice in writing, may require any person to file a statement of life style expense for any income year, if—

(a) such person has not filed such statement of expenses in the relevant income year; or

(b) such statement of expense appears to be necessary for determining the tax liability of the assessee for the relevant income year.