The government has instituted a mandatory requirement for tax return submissions by November 30, as outlined in the Income Tax Act of 2023. This new law, which received presidential approval on June 22, replaces the Income Tax Ordinance of 1984.
To inform stakeholders about this development, the National Board of Revenue (NBR) has initiated public hearings. In alignment with this effort, Tax Zone-2 organized an event today at its commissioner’s office in the Segunbagicha area of the city, with the participation of representatives from various autonomous bodies.
During the event, income tax officials emphasized that self-assessment returns are now obligatory under the new law. They stressed the deadline for filing income tax returns as November 30, noting that failure to meet this deadline would result in the denial of expected rebates and the imposition of late charges.
Income Tax Officer Md. Zakir Hossain highlighted that for individuals with an annual taxable income of less than Taka five lakh, a one-page income tax return must be submitted. He also mentioned that the NBR has introduced a one-page form tailored for low-income taxpayers.
