Budget FY26: Excise duty exemption on deposits proposed up to Tk3 lakh
With this new government facility, the tax-free burden for 75 lakh low and middle-income depositors will be reduced by approximately Tk112 crore
Finance Adviser Salehuddin Ahmed has proposed raising the excise duty exemption limit on bank deposits from Tk1 lakh to Tk3 lakh in the 2024-25 fiscal year budget.
This will allow 75 lakh new low and middle-income depositors to enjoy tax-free benefits.
The finance adviser made the announcement in a pre-recorded speech telecast today (2 June) while unveiling the national budget of Tk7,89,999 for FY26.
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With this new government facility, the tax-free burden for low and middle-income people will be reduced by approximately Tk112 crore.
National Board of Revenue (NBR) officials said the government took this step to enhance the dynamism of banking services for low- and middle-income individuals.
As a result, small customers will feel more comfortable depositing money in banks amid high inflation.
They said that currently, millions of small depositors keep their money in banks rather than elsewhere. As part of increasing bank dependency and creating a savings mindset among people, the government is making this decision for the upcoming fiscal year.
