Depositing money above Tk10 lakh in banks will be costlier
The applicable excise duty rates will remain unchanged in cases where the bank account balance does not exceed Tk10 lakh at any time during a year
Depositing money above Tk10 lakh in banks will be costlier as the government has increased excise duty in various rates in the proposed budget for the next fiscal year.
In cases, where the balance exceeds Tk10 lakh but does not exceed Tk1 crore, excise duty has been proposed to increase from Tk2,500 to Tk3,000.
However, where the balance exceeds Tk 1 crore, but does not exceed Tk 5 crore, excise duty has been proposed to increase from Tk12,000 to Tk15,000.
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And, where the balance exceeds Tk5 crore, excise duty has been proposed to increase from Tk25,000 to Tk40,000.
However, the applicable excise duty rates will remain unchanged in cases where the bank account balance does not exceed Tk10 lakh at any time during a year.
