No more time extension for returns submission: NBR chairman
Those who will be unable to file their income tax returns within the given time can apply to the concerned tax office
Tax identification number (TIN) holders will have to submit their income tax returns by tomorrow. The deadline will not be extended further after 30 November.
Abu Hena Md Rahmatul Muneem, National Board of Revenue (NBR) chairman, said this at a press conference on Sunday morning.
He said that those who would be unable to file their income tax returns within the stipulated time could apply to the tax offices concerned.
However, giving two percent fine is not mandatory. The fine will be waived if the taxpayer can show a valid reason of why he could not submit the return on time.
If the reason does not seem rational to the commissioner, the fine has to be paid.
The number of returns had increased by 63,199 till 26 November this year compared to 26 November last year, said the NBR chairman.
However, income tax collection had decreased by Tk193 crore at the same time, he added.
It is to be noted that under the Income Tax Act, the deputy commissioner of taxes may give a taxpayer two months to file a return following the application from the taxpayer.
In that case, the taxpayer will have to pay two percent fine.
A few years ago, the return submission deadline was extended every time. But in 2016, by bringing changing in the Income Tax Ordinance, it was decided not to accept returns after the National Tax Day on 30 November.
