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FBCCI urges NBR to extend timeframe for submitting returns


FBCCI urges NBR to extend timeframe for submitting returns

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the government to extend the deadline for submitting income tax returns by another month. The country's apex trade body made the request through a letter sent to National Board of Revenue (NBR) chairman Abu Hena Md Rahmatul Muneem. The FBCCI's letter mentioned that there is a need to extend the deadline for submitting returns till Dec 31.

Explaining the reason for this, the FBCCI said that the taxpayers did not get much time to prepare themselves this time due to the implementation of the new Income Tax Act-2023 and subsequently the late release of income tax circulars. 

Apart from this, the apex trade body said it is also not possible for many of the taxpayers to submit returns by Nov 30 due to the ongoing political situation and the upcoming general election.

The letter, signed by FBCCI president Mahbubul Alam, also mentioned that various trade bodies have requested the FBCCI to extend the deadline for filing income tax returns. Under the current circumstances, the FBCCI has requested to extend the deadline for submission of income tax returns till Dec 31, 2023 in light of Section 334 of the Income Tax Act-2023.

Under the new Income Tax Act, there is a mandatory provision for submitting income tax returns within the income tax day. 

In order to extend the deadline for submission of returns, NBR may declare Tax Day to be observed on any other day after Nov 30.

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