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Compliance’s of a Private Limited Company in Bangladesh

A Private Limited Company must maintain the following compliance according to Company Act 1994 and Income Tax Ordinance 1984:

1. Deduction of Source Tax & VAT (TDS & VDS):

A private limited company must deduct tax and VAT when make any payment which are deductible payment according to the Income Tax Ordinance 1984 and Value Added Tax and Supplementary Duty Act, 2012.

2. Statement of Tax Deduction from Salaries:

A private limited company has to submit TDS challan with the Statement of Tax Deduction from Salaries Under Section 50 & Rule 21 of the Income Tax Ordinance 1984 in every month.

3. Statement of Tax Deducted or Collected from Other Sources:

A private limited company has to submit TDS challan with the Statement of Tax Statement of Tax Deducted or Collected Under Chapter VII & Rule 18 (7) of the Income Tax Ordinance 1984 in every month.

4. Withholding Tax Return Submission:

A private limited company has to submit its half-yearly Withholding Tax Return under section 75 (A) of the Income Tax Ordinance 1984.

5. 108 Form Submission:

A private limited company has to submit its yearly Statement regarding the Payment of Salary Under Section 108 & Rule 23 of the Income Tax Ordinance 1984.

6. 108A Form Submission:

A private limited company has to submit its yearly Statement regarding the filling of Return of Employees Under Section 108A & Rule 23A of the Income Tax Ordinance 1984.

7. Auditor’s Report:

A private limited company must submit its yearly auditor’s report with Balance Sheet, Comprehensive Income Statement& Others to the Tax Office and RJSC.

8. Submission of Company Income Tax Return:

A private limited company must submit its yearly Income Tax Return with Audited Accounts under section 74 of Income Tax Ordinance 1984.

9. VAT Return (9.1) Submission:

A private limited company must submit its monthly VAT Return to the VAT Office Under Value Added Tax and Supplementary Duty Act, 2012.

10. RJSC Return Filing (Schedule X):

A private limited company must submit or update its yearly Schedule X, Form 23B with Audited Accounts to the RJSCB Office according to Company Act 1994.

11. Bangladesh Bank, BIDA & Etc.:

It depends on the Company Nature of the Business.

So, all about the compliance’s of a private limited company must be maintained for doing business in Bangladesh.

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