NBR extends Income Tax Return timeframe for one month

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30 Nov 2020, 16:55

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The timeframe for income tax return submission has been extended for one more month. The decision was taken in the board meeting of National Board of Revenue (NBR) on Monday.NBR Chairman Abu Hena Mohammad Rahmatul Munim confirmed the information on Monday afternoon.

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The NBR Chairman said, the timeframe for income tax return submission has been extended up to December 31 due to request from all including personal taxpayers, businessmen, income tax lawyers and public representatives following the Covid situation.

Although yesterday the NBR Chairman announced at a press conference on the occasion of national income tax day-2020 that timeframe would not be extended.

He noted that 13 lakh 20 thousand returns were submitted till November 26 and the amount of paid tax is 2 thousand 387 crore taka. He said, though our ability has increased but the segment of income tax has not increased at the expected level.

At that time he said, there is no scope to extend the timeframe for submitting the income tax return. Those who did not submit have to submit it within Monday. Otherwise they have to pay the fines.

The NBR Chairman said, those who would fail to submit income tax return in the stipulated time they can apply to the concerned tax office. In that case fine will be waived if they can show logical reason. If the commissioner observes that the reason is not logical then he has to pay the fine. Mentionable, at present 46 lakh citizens have the Tax Identification Number (TIN). But nearly half of them do not submit return regularly.

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