Taxpayers in rush to submit returns as deadline today

Failure to submit income tax return by today will result in a 2% penalty on the payable tax for each month it was delayed, officials said. They said the Nov 30 deadline will not be extended as it was already deferred for two months from Sept 30. However, the taxpayers may seek an extension for submission of the returns subject to valid reasons. According to the Income Tax Act, taxpayers having annual income above Tk2.50 lakh have to pay income tax. Meanwhile, Income Tax Week, that began on November 24, to provide income tax related facility to taxpayers, will also end today. The NBR offices across the country will remain open from 9:00am to 8:00pm today to provide services to taxpayers including the submission of income tax return, registration with e-TIN, providing user ID and password for online return submission to taxpayers etc.Income Tax Day todayThe NBR is going to observe Income Tax Day today across the country. All the Income Tax Zones and circle offices will observe the day with different activities. President Abdul Hamid and Prime Minister Sheikh Hasina yesterday issued separate messages wishing a successful National Income Tax Day 2016. In their separate messages they greeted the taxpayers, income tax officials and employees and all concerned. In his message, president Abdul Hamid appreciated different initiatives taken up by the revenue authorities to boost the revenue collection of the country. He called upon the taxpayers and stakeholders, along with the government, to have a positive attitude in order to make the government exchequer powerful and integrated. In a separate message, Prime Minister Sheikh Hasina said the innovative approaches to create revenue friendly culture in the country adopted by the National Board of Revenue has reached all levels of the country from national to the rural levels. Holding income tax fairs in Dhaka and elsewhere in the country was creating awareness among the people, she said. NBR will hold a rally to be attended by Finance Minister AMA Muhith, State Minister for Finance M A Mannan, and NBR Chairman Md Nojibur Rahman.