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                                                                                  FAQ on Tax

Am I an assessee?

Yes, you are an assessee in order to comply with the requirements of the Income Tax Ordinance 1984 (hereinafter referred to as the Ordinance) if:

a)          You need to pay any tax or other sum, which is payable under the Ordinance;

b)          Any proceedings have been taken for the assessment of income of your own or any other person, or of refund of tax due to you or such other person;

c)          You are required to file a return under Section 75, 89 or 91 of the Ordinance;

d)          You desire to be assessed and submit your return of income under the Ordinance;

e)          You are deemed to be an assessee or an assessee in default under any provision of the Ordinance.

Should I file a return of income?

You should file your return of income if you have satisfied any one of the following conditions:

a)          Your ‘total income’ for any income year has exceeded the threshold of non-assessable income. Presently it is Tk 120,000.

b)          You were assessed to tax for any one of the three years immediately preceding the income year;

c)          You reside within the limits of a city corporation or a paurashava (municipality), or a divisional headquarters or district headquarters and fulfils any of the following.

conditions –

  • own a building consisting of more than one storey the plinth area whereof exceeds 1,600 square feet;
  • own a motor car as per Section 2(25) of the motor Vehicles Ordinance 1983, including a jeep and micro-bus;
  • subscribe a telephone;
  • own a membership of a club registered under the Value Added Tax Act 1991 (Act 22 of 1991);

d)          You run a business or profession under a trade licence issued by a city corporation, a paurashava or a union parishad, and operate a bank account;

e)          You are a registered member o a recognised professional body as a doctor, dentist, lawyer, income tax practitioner, chartered accountant, cost and management accountant, engineer, architect or surveyor or any other similar profession.

f)       You are a member of a chamber of commerce and industries or a trade association.

g)          You are a candidate for an office of any union parishad, city corporation, or a member of Parliament.

h)          You participate in a tender floated by the government, semi-government, autonomous body, or a local authority.

i)       You have a taxpayers identification number (TIN).

j)       You are a ‘company’ as defined in Section 2(20) of the Ordinance.

When shall I file my return of income?

a)       If you are a company, not after the expiry of 6 months from the end of your income year or by 15 July of the corresponding assessment year, whichever falls due latter.

b)       In all other cases, by 30 September during the assessment year corresponding to the relevant income year.

What document should accompany my return?

a)       If you are a company, the financial statements of your company for the relevant income year duly audited by a firm of chartered accountant. You will need to file the evidences of payment of tax either through direct payment or by way of deduction at source. The assessing officer may call for any further documents or information that he shall need to complete the assessment.<!--[endif]-->

b)       If you are an individual, a statement on your life style during the income year and a statement of your assets, liabilities as at the end of the income year and expenses for the said year – both in the prescribed forms. Presently, a consolidated form of return that includes statement of assets & liabilities (IT-10B) and statement on certain particulars of life style (IT-10BB) is available.

c)   You may file the photocopies of the documents relating to assets acquired during the income year and liabilities incurred during the same period. Bank certificates or statements, savings