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Income tax returns submission mandatory by Nov 30

The government has made mandatory the submission of tax return 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 The Income Tax Ordinance, 1984 was repealed and this new law was enacted.

For informing about the new to stakeholders, National Board of Revenue (NBR) has started to arrange public hearing.

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

Representatives of various autonomous bodies participated at the programme.

At the programme, income tax officials informed that self-assessment returns have 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 have to pay late charge.

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

He informed that NBR has released a one-page form for the low income taxpayers.