DHAKA: National Board of Revenue (NBR) has relaxed the rules for house rent payment through banks.

From now, Landlords may deposit the rents (mandatory for over Tk. 25,000) in any of their existing bank accounts. 

In a guideline, the board, on the day same, said that a landlord has to deposit his house rents over Tk. 25,000 (including rents of furniture, fixture and fittings) derived from one or more houses (both used for commercial and residential purposes) in any of the scheduled banks.

The landlord can deposit the house rent and advance house rent, along with other incomes in any of his existing bank accounts, the guideline adds.

The tenants could pay the house rents through crossed cheques or could directly deposit the amount to the landlord’s bank account, according to the guideline. If any tenant pays the rent in cash, the landlord will have to deposit the rent to the bank account.

The NBR issued the guideline to clarify the newly introduced system as many of the taxpayers were confused on the system including who will deposit the rent, methods of rent payment under the system, responsibilities of people having power of attorney etc.

BDST: 0905 HRS, JULY 23, 2014