Income tax returns filing made mandatory by Nov 30

The government has made mandatory the submission of tax returns by November 30, according to the Income Tax Act 2023.

The Income Tax Act, 2023 received the President's assent on June 22. The Income Tax Ordinance, 1984 was repealed and this new law was enacted.

To inform stakeholders, the National Board of Revenue (NBR) has started to arrange public hearings.

In line with this, Tax Zone-2 on Sunday organised a programme at its commissioner's office in the Segunbagicha area in the city.

Representatives of various autonomous bodies participated in the programme.

At the programme, income tax officials informed that self-assessment returns had been made mandatory in the new law.

They mentioned that income tax returns must be filed by November 30 and if they fail to submit it within the deadline, then taxpayers will not get the expected rebate and will have to pay a late charge.

Income Tax Officer Md Zakir Hossain said that if the annual taxable income is less than Taka five lakh, a one-page income tax return must be submitted.

He also said that NBR has released a one-page form for low-income taxpayers.

/KN/