Get An Article From Income Tax

Where The Return Is To Be Submitted

Income tax circle has been fixed for submission of return of the tax payer of every class, such as, Dhaka civil district situated those of the civil government officer/ employee and pension received officer/ employee as is started by the letters of A, B and C they have to be submitted the return in tax circle of Dhaka, of tax zone- 4. Old tax payers in their present circle return has to be submitted. New tax payers their name, workplace or business organization address based specified circle of 12 digits TIN (e-TIN) as mentioned the income tax return will submit. Tax payers in case necessary from the nearest income tax office or tax consultant center will be able to get the information related to the submission of income tax return.

Every year in different places of the country in hold income tax fair the tax payers can submit the income tax return. At the time of submission of return if the tax payers are located in abroad in Bangladesh embassy situated in abroad return is submitted. Any government officer in leave in abroad if in highest in trained or lien as is working outside of Bangladesh the mentioned lien as ended within three months coming to the country the time of his lien time all of the returns will be submitted.

What Happened If The Return Is Not Submitted

ny tax payer as per section 75 of income tax ordinance within specified time if failed to submit income tax return as per section no- 124 on that income tax return ordinance fine, as per section no- 73 50 percent additional easy interest and as per section no- 73A the delay interest will be imposed. The case in which tax payer applies time for submission tax payer return return will be submitted within the extended time approved by deputy tax commissioner, in that case no fine will be imposed on tax payer, but additional easy interest and delay interest will be imposed. 

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First Part

The Subject To Be Generally Known

Income tax is about presenting specified form the information of income annually of a tax payer from the income tax authority. The structure income tax of income tax return form by the regulation has been specified. As per income tax laws income tax return is to be submitted in the form specified by the national revenue board.

Who Will Submit Income Tax Return

Generally, any individual tax payer income if exceeds more than 2,50,000 taka yearly then he has tbe submitted return. Tax payer income in age more than 65 years and woman and if is more than 3,00,000 annually taka, disable tax payer income if is more than 4,00,000 taka annually and in gazette war injured freedom fighter tax payer income if is more than 4,25,000 taka annually then that tax payer will have to be submitted income tax return. Again in some cases, the amount of income whatever it is, the tax payer has to be submitted income tax return.

In the mentioned cases individual tax payer will have to be submitted in mandatory for the income of the year:

(A)  If the income in a year exceeds the limit of total income of the tax payer;

(B)   Previous three years of income year in any year if the tax of tax payer is specified or if his income is taxable;

(C)   Tax payer if-

(1)   If become any company share holder director or share holder employee;

(2)   If is the partner of any firm;

(3)   Government or any authority of the government, corporation, proprietorship or unit or in any traditional law, order or deed constructed any authority, corporation proprietorship or unit employee becoming income in a year that any time 16,000 taka or the amount is received as the basic salary;

(4)   If salary specified employee is in any business or professional executive or in the position of management (Whatever the name it is referred);

(D)  Income in a year if received exempt of tax of the tax payer or decreased in the rate if it is taxable; 

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(E)   If the income in a year at any time based on the terms as mentioned bellow any of its is not necessary for the tax payer-

(1)   Having ownership of motor vehicle (Saying motor vehicle jeep or microbus will be understood);

(2)   Having any club membership registered under the price adding tax law;

(3)   Any business or profession operating as receiving trade license from any city corporation, municipal or union parishad;

(4)   Having registration of professional organization acknowledged as doctor, dental doctor, lawyer, chartered accountant, cost and management account, engineer, architecture or surveyor;

(5)   Having registration of national revenue board as income tax practitioner;

(6)   Having membership or the organization or business association or chamber related to commerce or industry;

(7)   Becoming candidate in the position of parliament member or in any position of any municipal or city corporation;

(8)   Participation of any tender in any local government or autonomous, semi government or government;

(9)   Having been in the director board in any company or group of companies;

(10)                       Providing motor vehicle in the system of ride sharing.