2.35m taxpayers submit returns till Nov 30

A total of 2.35 million taxpayers have filed their income tax returns till November 30 this year with a revenue collection of around Tk 43.35 billion (Tk 4,335 crore).

The last date for submitting returns in the 2023-2024 tax year was November 30, but the government has extended the timeframe for submitting returns by the individual taxpayers by another two months till January 31, 2024 while that of the companies taxpayers till February 28, 2024.

"Since the scope for submitting returns has been increased this year, so usually the number of returns will increase this year compared to the previous year, said NBR member Syed Mohammad Abu Daud.

“Due to the extension of timeframe for submitting returns this year, the number of returns is expected to exceed 4.50 million this year," he said.

The NBR member also informed that submission of returns through online has also put a positive impact in the return filing.

According to the NBR, the number of submitted returns in the last tax year was 3.50 million. As per the new income tax act, it is mandatory to submit the receipt of income tax return for availing some 43 types of services.

Currently, the number of TIN holders in the country is around 9.40 million.