Tax return submission deadline extended till Jan 31

The National Board of Revenue (NBR) has extended the tax return submission deadline to January 31, 2024. The NBR issued a notification extending the deadline on Wednesday.

Earlier, the NBR was set to extend the deadline for submission of tax returns for individuals until December 31 this year for the income year 2023-24.

However, the NBR extended the tax return submission deadline by two months considering the political and economical situation of the country.

According to NBR officials, taxpayers who would not file returns by November 30 will not get several tax benefits. Besides, there is no opportunity to get 43 services without the acknowledgment of receipt of return submission or income tax certificate. However, taking into consideration the current situation of the country, the matter of extending the time by one month is being reviewed.

​Officials concerned said that the Income Tax Act 2023 has been passed this year by repealing the Income Tax Ordinance of 1984. As a result, taxpayers need time to learn and get used to the new law.

Besides, NBR issues income tax circular earlier every year. But this time the circular has been issued very late. It will take time for taxpayers to understand and reconcile many aspects of the new law. For this reason, some organizations have requested to increase the return submission deadline.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), apex body of trade organisations, has petitioned the National Board of Revenue (NBR) to extend the deadline for submitting income tax returns by one month, to December 31.
In a letter dated November 19, FBCCI President Mahbubul Alam appealed to the NBR to extend the deadline, citing the impending national elections and the delayed release of income tax circulars aligned with the new Income Tax Act.