It is a gift tax presentation. according to the income tax ordinance in Bangladesh it is prepared. It is helpful for all

1. Gift Tax

2. Sec 2 (d), The Gift Tax Act 1990
Gift means the transfer by one person to another of any
existing immovable or moveable property made voluntarily
and without consideration of any money or money’s worth.
Gift

3. The gift tax is leviable on gift made in any financial year on
and from the 1st day of July 1990.
at the prescribed rate in the schedule [u/s-3].
Gift Tax

4. Transfer of existing property.
Transfer made by one person (donor) to another person
(donee).
Should be made voluntarily.
Without or with inadequate consideration.
Chargeability

5. Gift Tax Rate is applied on the market value of the gift.
If MV is not available, Section 5 and Rule 6 of Gift Tax Act
and Rules, 1990 shall be applicable.
Valuation of Gift

6. Valuation of Gift
Property Valuation
Cash Amount of Cash transferred
Property
other than
Cash
a)If MV is the known, the price the property
would be sold at the market on the day when the
gift was made.
b) If MV is not known,
i. In case of gifted insurance, the amount that
can be en-cashed on that day
ii. In case of shares of private ltd co. or firm, the
value of shares have to be determined for the
year in which the shares were gifted
Others The value is determined by the NBR.

7. Valuation of Gift Tax
Particulars
(Slab Amount of Taxable Gifts)
Rate (Percentage)
On the first Tk. 500,000 of the value of all
taxable gifts
5%
On the next Tk. 1,000,000 of the value of
all taxable gifts
10%
On the next Tk. 2,000,000 of the value of
all taxable gifts
15%
On the balance of the value of all taxable
gifts
20%
Rates of Gift Tax U/S 3

8. U/S 4
Gift tax shall not be charged under the Act in respect of the
following gifts made by any person:
1) of property situated outside Bangladesh;
2) to the Government or any local authority;
Exemption from Gift Tax

9. 3) to the following funds or institutions, for charitable purpose:
i. any University established under the law in force in
Bangladesh or any educational institution recognized or run
by the Government;
ii. any hospital recognized or run by the Government;
iii. any flood or disaster management fund established or
approved by the Government;
Exemption from Gift Tax

10. iv. such institutions or funds for religious or charitable purpose
upto 20% of the total income determined for the concerned
year or Tk. 100,000 whichever is less;
4) to dependent relative upto Tk. 20,000 on the occasion of
his/her marriage;
Exemption from Gift Tax

11. 5) by way of payment of policy of insurance or annuity for any
person (other than wife/ spouse) dependent upon him for
support and maintenance upto Tk. 20,000;
6) under a will;
7) under contemplation of death;
Exemption from Gift Tax

12. 8) to sons, daughters, father, mother, his or her spouse, own
brothers and sisters;
In addition to the above exemptions, gifts made in any
financial year up to value of Tk. 20,000 are exempt from gift
tax. The Government may by notification exempt any class of
gift or any class of person from gift tax.
Exemption from Gift Tax

13. U/S 20
Provisions of the Gift Act shall NOT apply to following gifts
made by
1) a body corporate established or constituted by or under any
law
2) any institution or fund, income whereof is exempt from
income tax under Income Tax ordinance 1984;
Gift Tax not Applicable

14. Return of Gift Tax
U/S 7
Every person who had made taxable gift during any financial
year of an amount as to render him liable to gift tax under the
gift tax act shall before the fifteenth day of September of the
corresponding assessment year furnish a return to the Deputy
Commissioner of Taxes.
DCT gives a 30 days notice if it believes that a person is liable
to pay gift tax.
Tax on the basis of the return is payable on or before the date
on which such return is furnished.

15. Return of Gift Tax
U/S 9
If the assessee fails to submit the return within due day,
he may submit the return or do corrections before the
assessment.

16. Assessment
Assessment
On Correct
Return Basis
After Hearing Best
Assessment

17. Assessment
On Correct Return Basis:
1. Submitted return is correct and complete.
2. The DCT is satisfied.
3. Physical presence is not required

18. Assessment
After Hearing:
1. The DCT is not satisfied.
2. Physical presence and evidence needed
3. After hearing, taxable gift and tax payable amount are
determined.

19. Assessment
Best Assessment
1. The assessee fails to present physically and to produce
evidence
2. The DCT determines taxable gift and tax to the best of
his judgment.

20. Penalty for Default and Concealment
If:
 The assessee furnishes inaccurate information or,
Fails to furnish a return after receiving a notice,
The penalty will be not more than fifty percent of the
gift tax determined by him plus the tax.
However, the assessee is given opportunity of being
heard by the IJCT.

21. Notice of Demand
When any tax or penalty is due, NOD is served to the
assessee in Form 3 specifying the sum of the tax payable
and the due time.

22. Appeal
 Any person aggrieved by the DCT or TRO may appeal in
Form 4 to the AJCT.
Any person aggrieved by the decision of the above
appellate authority can appeal for revision and reference
by Form 5 to Appellate Tribunal.
A certified copy of the order against which appeal is
being made must be enclosed with the application of
appeal.

23. That was enough!