November 30, 2022

In the past, for many Bangladeshi, the income tax return was a stressful and scary task. Well, not anymore! As with the government walking towards digitization, now the entire process of tax returns has become much simpler and more convenient. 

You don’t have to run errands in the tax office. Instead, you can do everything through online return submit BD.

Wondering how? In the following article, we will discuss how to file and check your income tax return online. But first, let’s understand what a tax return is:

What is a tax return?

A tax return is a document submitted to a taxing body containing details about earnings, costs, and other varied relevant tax data. Tax returns ideally allow taxpayers to determine their obligations, plan out their tax payments, or ask for tax reimbursement if they have paid more than required.

Generally, an individual or business with taxable income, such as income, interest, profits, corporate taxes, or other revenues, is filed annually. 

Which time of the year to submit tax returns?

  • Tax return starts on July 1 and ends on November 30 every year.
  • You must do your tax return annually; November 30 is the last date. Failure to do so on time will land you to face several punishments.
  • June 30 of every year is known as the tax year-end. 

So, are you eligible for a tax return in Bangladesh? Well, check the next segment to find out: 

What are the eligibility criteria for tax returns in Bangladesh?

Every resident and non-resident Bangladeshi assignee is required to file an income tax return in Bangladesh after June 30 and before November 30 of each year for income earned between July 1 and June 30.

However, there is a condition for income tax. The amount must exceed a specific limit of 250,000 Bangladesh taka (BDT) annually, or 3,00,000 BDT annually for women and assignees over 65, or if they were assessed during any of the three years prior.

An assignee must get an e-TIN (electronic tax identification number) in Bangladesh before filing an income tax return. However, the tax office has the full power to extend the deadline by two to three months.

How to file your tax return online in Bangladesh? [Step By Step Guide]

Bangladeshi citizens with TIN certificates must file an income tax return each year. In case you don’t file for the tax return, be ready to be penalized by several fines and punishment by the government. It is a law that every citizen must adhere to strictly.  

Besides, compared to previous years, filing taxes has become easier as you can do all kinds of income tax returns right from home via the e-return without going to the office. And the best part is you can download your tax certificate immediately after completion. 

So, how to do it? 

Don’t worry; the steps are pretty easy. Just need to follow them correctly in the exact order, and you will be all good to go.

Here’s to how: 

Step 1: Register using the e-return system

For filing it online, your first job is to do the registration using your TIN and the phone number registered under your name. After then, input the captcha code correctly and hit the verify button. 

An OTP will be sent to your mobile, using which you can set a password for logging in every time in the e-return system.

Once the signing-in is done, you will be directed to the dashboard. Here, you will have to click on the “Return Submission” option, available on the left side.

Step 2: Tax Assessment Information

At the beginning of the form, you will be provided with Tax assessment information related to your income tax, like annual earnings, expenses, the source of income, etc. For example, in case your only income is salary, choose salary. And for other sources, select the other options. 

It is mandatory to give this info to the heads of income for moving to the next phase. After giving the input, hit the save and continue buttons.

Step 3: Expenses

Here, all kinds of expenditure info have to be given. For instance, if your total assets are Tk. 40 lakh or above, this info must be filled up in the IT10B form.

You don’t have to fill out this form for less than this amount. Instead, mention the total amount of your yearly family and other personal expenditures.

Step 4: Tax and Payment

If you have paid any source and advance tax, you can show them here. They will get automatically deducted from your total tax payable.

If there is no tax payable on your revenue, then it will be zero. This kind of return is known as Zero return.

Your income tax return is done, and you are all set to file, check, print, or even download whenever needed.

How do I check my tax return online?

Here is a list of the simple step, following which you can check your tax return online within just a few moments:

  1. Log into your account using the e-return. Give your TIN, Password, and do the captcha. 
  2. It will direct your user panel dashboard. From the Tax Record, click on the History Menu option.
  3. Next up, two boxes asking for record type and assessment year. Select the tax return option, and choose the year you want to check in the assessment year. 
  4. Lastly, click on the “View” button. It will come up with all the information relevant to your tax return for that particular assessment year.

Penalty for Late Submission of Tax Return 

If not filed on time, the Deputy Commissioner will impose a one-time penalty of 10% tax payable in the recent tax assessment, amounting to more Tk. 1,000. And for each day of delay in filing the income tax return, a rate of Tk. 50 will be added to it. 

Conclusion

Paying tax on due time falls under the fundamental duty of every citizen. Now that you have developed a clear concept about tax returns, including how to file and check them online. Keep track of it to stay informed and pay on time unless you want to face any punishments and complexities.

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