 |
|
Deduction of Tax for Services from Convention Hall, Conference Centre, etc. under Section 110 of the Bangladesh Income Tax Act 2023 |
Deduction of tax for services from convention hall, conference centre, etc under Section 110 | Bangladesh Income Tax Act -2023
As per section-110(ITA-2023),
Deduction of Tax on Payments for Convention Hall, Conference Centre, and Similar Facilities
Where a specified person makes any payment to another person for the rental or use of a convention hall, conference centre, room, hall, hotel, community centre, restaurant, or any similar venue, the person making the payment shall, at the time of payment, deduct tax at the rate of 5% (five per cent) from the gross amount payable for such services.
This version preserves the legal meaning while improving readability and eliminating repetitive wording. If you need it in a more formal legislative drafting style or aligned with a specific tax statute's format, I can revise it accordingly.
You may learn more-
Duties and functions, and jurisdiction of income-tax authorities under Section 08
Special agricultural income under Section 41 | Bangladesh Income Tax Act -2023
Frequently Asked Question (FAQ):
1. What is Section 110 of the Bangladesh Income Tax Act 2023?
Section 110 of the Bangladesh Income Tax Act 2023 provides the rules for deduction of tax at source on payments made for services from convention halls, conference centers, community centers, and similar venues. The payer must deduct tax at the prescribed rate before making payment.
2. Who is required to deduct tax under Section 110?
Any person or entity responsible for making payment for convention hall, conference centre, community centre, or similar venue services must deduct tax at source if the payment falls within the scope of Section 110 and applicable tax rules.
3. What services are covered under Section 110?
Section 110 generally applies to payments for convention halls, conference centres, community centers, banquet halls, event venues, and other similar facilities used for meetings, seminars, conferences, weddings, or social events.
4. Why is tax deducted for convention hall and conference centre services?
Tax is deducted at source to ensure timely collection of government revenue and improve tax compliance. The deducted amount is treated according to the provisions of the Bangladesh Income Tax Act 2023.