Tax Returns Submission
NBR likely to extend time again
The National Board of Revenue is likely to extend the deadline for submission of income tax returns by individual taxpayers by one more month to November 30, NBR officials said.
They said the number of returns submitted till Tuesday was very low with only two days remaining for filing returns within the extended deadline that expires tomorrow.
The NBR on September 30 extended the deadline by one month to October 31.
‘The NBR is actively considering the proposal of the Federation of Bangladesh Chambers of Commerce and Industry for extending the deadline for filing returns by one more month,’ a high NBR official told New Age on Tuesday.
The FBCCI, the apex trade body of the country, on Tuesday requested the NBR for time extension for filing returns saying that it would not be possible for taxpayers to submit returns in time due to political tension and e-TIN-related complications.
Many business bodies and tax lawyers association
across the country also appealed to the NBR for extension of returns submission time, he said.
The official said, ‘Though the NBR is yet to count the number of returns it received till Tuesday, it feels that the number is very low,’ he said.
More than half of the regular taxpayers are yet to file their income tax returns, said another official.
He said that many taxpayers could not submit income tax returns because of long holidays on the occasions of Eid-ul-Azha and Durga Puja this month, political violence and new rule of obtaining 12-digit online generated taxpayers identification number (e-TIN).
In last year, the NBR extended the deadline twice, first by one month to October 31 and then 15 days to November 15.
Till Tuesday, only 6.6 lakh individual taxpayers including 1.20 lakh new taxpayers obtained e-TINs which are required in submitting returns.
There are 17 lakh TIN holders in the country. Around 13 lakh submitted returns last year.
-With New Age input
