Up tax exemption limit on savings bonds: Matia

Agriculture Minister Matia Chowdhury has proposed raising tax exemption limit on savings certificates to Tk 6 million from Tk 3 million. She came up with this proposal during a discussion on proposed budget for 2014-15 fiscal year in the Parliament on Tuesday. Chowdhury also suggested an advance income tax of 10 per cent on saving certificates as final. She admitted that this was not done during the past tenure of the Awami League-led Grand Alliance. ‘Perhaps we could not bring in adequate investment as expected,’ the AL leader said. The minister stressed the need for infrastructure development along with growth of agriculture. 'We need peace and investment for development. For that we have to eradicate terrorism and maintain friendly relation with neighbours,' Chowdhury said.