Fill Income Tax Return online 2022 Bangladesh

Income tax return is a form that enables a taxpayer to declare his income, expenditure, tax deductions, investments, taxes etc. The Income Tax Act, 1961 makes it mandatory for a taxpayer to file an Income Tax Return under various circumstances. An income tax return is a form filed to report a taxpayer’s annual income. There can be various reasons for filing income tax return due to lack of income.

A taxpayer may want to file his income tax return to report his income for a financial year. Carry forward losses, claim income tax refund, claim tax deduction etc. The Income Tax Department provides the facility of electronic filing (e-filing) of an income tax return. Before discussing the steps involved in e-filing of income tax returns, it is essential for a taxpayer to keep the documents to be calculated and reported in ITR.

What is Income tax?

Income tax is a direct tax on your income. This means a portion of your income is paid to the government. The government charges this amount for expenditure related to health, education, subsidizing agriculture, infrastructure etc. It is paid by an individual/HUF/any taxpayer depending on the level of income or profit in a financial year. A company has to pay income tax regardless of the level of income. The government passes laws from time to time fixing the tax rate on your income.

Why income tax return filing is important?

The Income Tax Department has made it mandatory for individuals to file returns only if their income exceeds the basic exemption limit or if they meet certain criteria such as foreign travel expenditure of more than Rs 2 lakh and electricity expenditure of Rs 1 lakh or more, deposited in the financial year 2019-20 or later. Amount/Amount exceeding Rs.1 Crore in one or more Current Accounts thereafter. In case of a resident whose assets are situated outside India or has authority to sign account-wise outside India It is always a good idea to file your ITR even if you are not eligible for benefits.

Fill Income Tax Return online 2022

A person whose total income during the year exceeds the maximum amount of non-taxable income or the income of any other person chargeable to tax under the Income Tax Ordinance (ITO), 1984, must file an income tax return in the prescribed form with the Deputy Commissioner of Taxes (DC). send back Non-resident Bangladeshis, however, can file their income tax return with a bank draft for their tax liability at the nearest Bangladeshi mission, which will issue a receipt with a seal and forward it to the National Board of Revenue (NBR).

After crossing the maximum tax-free threshold. The tax rate is the same for women taxpayers, elderly taxpayers, differently-abled, disabled and gazetted war-wounded freedom fighters. However, the minimum amount of income tax payable by a taxpayer residing in a city corporation area is Rs 3000, Rs 2000 for residents of district headquarters and Rs 1000 for others.

How to pay Income Tax online?

You must pay your taxes before filing your tax return. If you are a salaried individual, most of your tax liability is deducted from your salary by your employer in the form of TDS and paid to the government on your behalf. If you are liable to pay advance tax, you have to pay 90% of it before 31st March of every financial year. You can file your ITR after the end of the financial year. The window for filing ITR is generally open till 31st July of the relevant assessment year. However, the due date for filing ITR may be extended and the IT department will inform the same through notification. It is advisable to file your ITR by the due date. It is worth noting that failure to file ITR by the due date of the assessment year will attract a late filing fee of Rs 5,000.

How To Fill Income Tax Return online 2022 ?

E-filing website is the official portal of Income Tax Department, National Board of Revenue, Bangladesh. The website is the government’s effort to create a friendly and automated tax environment for citizens and other stakeholders in calculating and submitting tax returns. The following web-enabled services are available in this online system:

Register account for taxpayer.
Electronic filing and attachment of income tax returns and processing of the same.
Electronic submission of Exemption/Tax Holiday application and upload attachment.
Submit electronic appeal application and upload attachments.
Changing password for taxpayers. Guidelines for Taxpayers.
Download related Income Tax Rules and Templates.

Income Tax Rate BD

Total Income	Rate of Tax
For first Tk 220,000	0%
For next Tk 300,000	10%
For next Tk 400,000	15%
For next Tk 500,000	20%
For next Tk 3000,000	25%
For the rest of the amount	30%