SC rules in favour of surcharge on wealthy

The Supreme Court yesterday ruled that collection of surcharge from the rich will continue until its further order.

According to the Income Tax Ordinance, 1984, a person with property worth more than Tk 2 crore have to pay the additional tax as surcharge to the government.

A five-member bench of the Appellate Division headed by Justice Md Abdul Wahhab Miah, performing the functions of chief justice, passed the order after hearing 26 leave to appeal petitions filed by different people including businessmen challenging a High Court verdict.

The HC in January last year in a judgment declared imposition of additional tax as surcharge on the wealthy is constitutional.

Yesterday, the Appellate Division, however, allowed the businessmen to move separate appeals against the HC verdict, Deputy Attorney General Rashed S Jahangir told The Daily Star.

The collection of surcharge from the people who have properties worth more than Tk 2 crore can be collected until the apex court hearing on the appeal, he said.

Barrister Fida M Kamal and Advocate Ramzan Ali appeared for the petitioners.