Wealth Statement & IT-10B Asset-Liability Declaration: Thresholds & Rules
Form IT-10B is mandatory if gross wealth exceeds ৳50 Lakhs, if you own a motor car, or own house property in city corporations. Surcharge slabs and family expense reporting.
- Gross assets exceeding ৳50 Lakhs make Form IT-10B mandatory.
- Owning any motor vehicle (car, SUV) makes IT-10B mandatory regardless of wealth amount.
- Owning residential flat or commercial space in any City Corporation mandates IT-10B.
- Net wealth exceeding ৳4 Crore triggers progressive Wealth Surcharges from 10% up to 35%.
1. Mandatory Criteria for IT-10B Submission
Under Section 167, filing IT-10B is mandatory if a taxpayer meets ANY of the following criteria:
- •Total gross wealth exceeds ৳50,00,000 (Fifty Lakh Taka)
- •Owns a motor car (personal vehicle, jeep, microbus)
- •Owns an apartment, house, or commercial space located in any City Corporation
- •Has made investments in foreign assets or property abroad
Frequently Asked Questions (FAQ)
Q: Do I have to list gold and jewelry?
A: Yes, quantity and purchase value (or ancestral inheritance) must be disclosed.
Conclusion & Tax Tips
Ensure your asset accumulation logically reconciles with your annual income and family living expenditures.
All data, tax brackets, thresholds, and statutory interpretations in this article are compiled directly from the Bangladesh Income Tax Act 2023, Finance Ordinance 2026, and official NBR circulars.
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Related Tax Articles & Statutory Guides
Relevant statutory guidelines based on Income Tax Act 2023 & NBR circulars