Tax return submission deadline today

Today is the last day for submission of tax returns by individual taxpayers amid low turnout till Sunday.

National Board of Revenue data shows, more than 13 lakh 50 thousand taxpayers submitted their return till November 28. And the officials of the board confirmed that the deadline of return will not be extended this year.

NBR Member (tax policy) Md Alamgir Hossain told The Business Post, “First, the date of return submission is not extending. However, the revenue board will allow taxpayers to submit returns without late submission fees until December 31 if they have a valid reason for the delay.

About the poor turnout, he said, “A lot of people have submitted their return on Monday and also I am hoping that a large number of taxpayers will submit the return on Tuesday.”

He urged all the taxpayers who are yet to file their returns to file them on time to avoid fines.

The income tax return submission for the financial year of 2021-2022 began on July 1 and will end on November 30.

According to the NBR, a total of 75 lakh TIN holders are registered with the board.

Usually, the taxpayers can access all types of services at a single place when an income tax fair is held, he said, adding that the NBR had organised a month-long income tax fair for nine years to 2019. It cancelled the fairs in 2020 and 2021 due to the Covid outbreak.

In the past year, some 24 lakh out of 60 lakh TIN holders submitted their tax returns.