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(FBCCI) requested the government to extend the time for submitting
income-tax return, as many taxpayers might miss the deadline. In a
letter, signed by FBCCI President Annisul Huq, the apex trade body
asked the National Board of Revenue (NBR) chairman to consider the
request as members of the business community were busy for Ramadan,
Eid-ul-Fitr and Durga Puja. Currently September 30 is the last date
for annual submission of the income-tax return. The request "is under
active consideration", an NBR official said, while the response so
far from the taxpayers is very negligible. "I think majority
taxpayers are expecting extension of the time like previous years,"
the official added. The deadline is likely to be extended by one
month at initial stage. Last year, the board had extended time for
individuals' tax return twice. A large number of businessmen,
professionals and top individual taxpayers who are yet to submit
return have requested the revenue board to extend the time. NBR
received a total of 670 ,000 million tax returns worth Tk 7.92
billion within the deadline of November 12 last year. The
income-tax-collection target has been fixed at Tk 16 ,560 crore for
the current fiscal, 27 percent higher than previous year. Meanwhile,
the government is expecting to increase the annual income tax by more
than Tk 20 ,000 crore at the end of its 5- year tenure through
creating a spontaneous environment.
