Tax Return Submission
NBR asks field offices to strengthen monitoring on time-seekers
The National Board of Revenue has instructed its field offices to strengthen monitoring on time-petitioners so that all of them submit income tax returns by extended time, officials said.
Every year a significant numbers of taxpayers’ identification number holders, being failed to submit income tax returns within scheduled deadline, seek additional time for filing returns, they said.
They said that though the revenue board did not have any official data, many time-seekers do not submit returns by the given time.
In the current fiscal year of 2014-15, around 1.95 lakh taxpayers filed applications to NBR field offices seeking time extension.
In last year, 1.80 lakh people sought additional time for filing returns, according to NBR data.
Usually, a deputy commissioner of taxes may give three months time after expiry of regular deadline of September 31 to a taxpayer for filing returns based on his application.
In addition, a joint commissioner of taxes may also approve another three months to a taxpayer based on his appeal if he failed to submit returns by extended time given by a deputy commissioner.
In practice, most of the DCTs give one month time to time seekers for submission of returns.
Officials of different circles of Zone 7 said that many taxpayers applied again seeking additional time while many neither submitted returns nor time petitions.
In final calculation, the total number of returns remains equivalent of the number of returns submitted by deadline and the number of time petition, a high official of the revenue board said.
‘But we are not sure that all time-seekers submitted their returns in previous years as we don’t have any record,’ he said.
There are many instances that field offices compelled many defaulters who even did not submit time petitions to submit returns while some defaulters willingly filed returns later, he said.
This year, the income tax wing of the NBR asked its filed offices to strengthen monitoring on time-seekers and send report to the board, he added.
According to the Article 124 of the ordinance, the deputy commissioner of taxes may impose a penalty amounting to 10 per cent of his/her tax amount last year or a minimum Tk 1,000 for not submitting returns within the deadline and Tk 50 for each day delay after the deadline.
-With New Age input
