NBR extends tax-returns time to Oct 31
The government has approved extension of the deadline for submission of income tax returns to October 31, a top official said yesterday.
The previous date for submission was September 30.
“I have signed the extension proposal, which will be formally announced later,” National Board of Revenue (NBR) Chairman M Abdul Mazid told The Daily Star.
Another NBR official, asking not to be named, said Ramadan, Eid and Puja were the reasons for extension of the deadline.
“It's common that people submit hardly any tax return during the month of Ramadan,” the official said.
Generally, the submission of income tax returns is due by September 30 for individuals and by December 31 for companies, according to NBR rules.
Assessment is made in several procedures: self-assessment, presumptive assessment, spot assessment and pre-audit assessment.
The number of individual income taxpayers who submitted returns increased by 20 percent to 645,617 in fiscal 2007-08 from 535,994 a year ago, according to NBR data.
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