Tax return submission deadline expires
Thursday, 13 November 2008
FE Report
The extended time for submission of income tax returns by individuals expired Wednesday (November 12) without generating much of additional revenue, officials said.
Rush of taxpayers was not as much as expected on the last day of tax return filing as most of the people filed tax returns on the previous deadline last Thursday (November 6), officials said.
The board at 9.pm on last Thursday announced the extension of time for filing income tax returns by six more days to November 12.
Around 0.15 million people submitted tax returns on Thursday, the last day of the previous time limit.
The NBR is yet to compile final data until filing of this report on 8.pm as all tax offices accepted tax returns until 9.pm.
Until Tuesday last, the board received tax amounting to nearly Tk 8.0 billion against 0.62 million tax returns.
The revenue earned from income tax showed a positive trend despite a drop of a good number of people as eligible taxpayers for raising the tax exemption limit to Tk 0.165 million for male taxpayers upto the age of 70 and Tk 0.180 million for female taxpayers and male taxpayers above 70 from earlier Tk 0.150 million for all taxpayers.
Last year, the NBR received Tk 7.39 billion tax against 0.64 million tax returns.
Taxmen expected that the number of tax returns would cross the previous year's level on the last day.
The extended time for submission of income tax returns by individuals expired Wednesday (November 12) without generating much of additional revenue, officials said.
Rush of taxpayers was not as much as expected on the last day of tax return filing as most of the people filed tax returns on the previous deadline last Thursday (November 6), officials said.
The board at 9.pm on last Thursday announced the extension of time for filing income tax returns by six more days to November 12.
Around 0.15 million people submitted tax returns on Thursday, the last day of the previous time limit.
The NBR is yet to compile final data until filing of this report on 8.pm as all tax offices accepted tax returns until 9.pm.
Until Tuesday last, the board received tax amounting to nearly Tk 8.0 billion against 0.62 million tax returns.
The revenue earned from income tax showed a positive trend despite a drop of a good number of people as eligible taxpayers for raising the tax exemption limit to Tk 0.165 million for male taxpayers upto the age of 70 and Tk 0.180 million for female taxpayers and male taxpayers above 70 from earlier Tk 0.150 million for all taxpayers.
Last year, the NBR received Tk 7.39 billion tax against 0.64 million tax returns.
Taxmen expected that the number of tax returns would cross the previous year's level on the last day.