Yet to file tax returns? Two-month extension on the cards
Till 27 November, the NBR has collected Tk19 lakh in tax returns from citizens
Individual tax-payers may have till 31 January for filing tax returns, instead of the previously set deadline of 30 November.
The National Board of Revenue (NBR) is set to officially announce the extension this evening or night, said NBR sources.
For companies, the deadline will be extended till 28 February from the previous date of 15 January.
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Till 27 November, the NBR has collected 19 lakh tax returns from citizens so far.
This year, no tax fair was held, rather the NBR organised a nationwide special support service at the tax zone office premises to help taxpayers submit their income tax returns.
Returns can be submitted at any time throughout the year. But if the return of the relevant income year is filed after the deadline, a penalty of 4% will be payable.
Also taxpayers will not get any of the investment rebates they were supposed to get, so they will have to pay more tax.
Many have questioned the rationale of such a provision in the Income Tax Act.
