Tax returns submission deadline ends amid poor response

The income tax returns submission deadline for individual taxpayers for the current fiscal year ended on Monday as the National Board of Revenue did not extend the time further, officials said.
The revenue board had extended the time frame by two months from September 30.
NBR officials said though many taxpayers crowded the field-level income tax offices at the eleventh hour of the deadline for filing their returns or time petitions, the revenue board got poor response from taxpayers till Sunday.
According to the provisional data of the revenue board, the number of returns submitted by the taxpayers till Sunday dropped by around 19 per cent, or 1.25 lakh, compared with the number the revenue board received by the same time of the last year.
Around 5.35 lakh individual taxpayers filed their income tax returns till Sunday while 6.60 lakh taxpayers had submitted their returns at the same period in last year, the data showed.
Around 2 lakh taxpayers, however, sought time from the deputy commissioner of taxes for filing their income tax returns against 1 lakh in last year, according to the data.
The total number of taxpayers who submitted income tax returns this year will be available within a day or two as field offices will send the updated data soon, officials said.
In the FY 2014-2015, a total of 11.10 lakh individual taxpayers paid income tax along with filing returns.
Officials said that though the number of returns still remained very low, finally it might surpass the last year’s figure as the field offices faced huge rush of the taxpayers at the last moment of the last day for filing their returns or time petitions.
The NBR kept its offices open till 10:00pm on Monday to facilitate taxpayers to submit their returns, they said.
The taxpayers who have applied for more time will be allowed to submit income tax returns later, they said.
Officials said that the revenue board would take action against the people who did not submit their returns despite
having taxpayer’s identification number
Currently, there are 17.52 lakh e-TIN holders in the country.
According to the Income Tax Ordinance-1984, tax officials can impose a penalty of Tk 1,000 at a time and Tk 50 for each day delay for non-submission of returns.
For new e-TIN holders, the penalty amount will be highest Tk 5,000 for their failure in filing income tax returns.

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