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Tax return submission deadline extended till Dec 31

News Desk | banglanews24.com
Update: 2022-11-30 15:35:13
Tax return submission deadline extended till Dec 31

The National Board of Revenue (NBR) has extended the income tax return submission deadline for individual taxpayers by a month till December 31.

The deadline for the tax year 2022-2023 has been extended until December 31 this year as per the section 184G of the Income Tax Ordinance 1984, said a notification of the NBR today (Nov 30).

During this extended period, the taxpayers will not have to pay any fine.

There are more than 80 lakh online Tax Identification Number (e-TIN) holders in the country while around 23 lakh of them filed their tax returns in the last tax year 2021-22.

NBR officials expect that the tax return submission would reach a significant number in this year due to a new provision in the relevant law that has made tax return submission proof mandatory for availing around 40 types of services.

But, till November 29, just a day before the deadline, only 16 lakh returns have been submitted, according to NBR sources.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the country's apex trade body, yesterday requested the revenue board to extend the deadline for filing tax returns by a month.

The Bangladesh Tax Lawyers Association has also made a similar request to the revenue authority.

Currently, annual income up to Taka 3 lakh is exempted from tax. An individual earning more than this is required to submit an income tax return every year.

In the current budget, the NBR has taken a strict stance on tax return filing.

BDST: 1535 HRS, NOV 30, 2022
MN/SMS
 

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