Brief Rules of Income Tax Return in Bangladesh
Bangladesh has a very specific rule about how and when will a person file his income tax accounting (i.e. return) to Government. The specific timing and nature of returns are cited as below : 1. Return for people leaving Bangladesh before ending a income year.(income tax return) 2. Return for resident/ non resident bangladeshi (normal income tax return) except companies. Deadline is 30th November as of Assessment year 2016-17 3. VAT return for eligible assesse’s before 15th of each month 4. Withholding tax return for companies in 31st January and 31st July of the income year. 5. Annual Information Return for NGO, company, co-operative society in 31st January and 31st July 6. Effective return for a person who has got written notice from NBR to submit return in different dates than normal return. 7. Any person who has not filed a return as required normally should file a revised return 8. Every person who has net worth more than 20 lac/owns a motorcar/ has made investment in house property in city corp areas has to file a statement inducing total assets, liabilities and expenses of him; Everybody must file his/her income return within time limit to avoid any penalty imposed by government.