Employees of government, semi-government or autonomous organizations have been instructed to submit their tax returns by November 30. Otherwise, they will have to apply for an extension of time. But if neither of the two is done, the salary allowance of that employee will be automatically stopped. In this regard, the Expenditure Management Department-1 (Income Tax Assessment Cell) of the Central Bank has issued an office order. The order states that November 30 is the National Income Tax Day. And the Central Bank has requested to submit the number of the income tax return receipt letter and the date of submission of the return within seven working days of that date. However, if the return cannot be submitted by the tax day, it has been asked to submit the late filing approval number, circle number and tax zone information. It has also been informed that if this order is not complied with, the salary allowance of the concerned person will be automatically stopped from next December.
National Board of Revenue (NBR) sources said that on November 24 last year, the NBR made income tax returns mandatory for taxable employees working in government, semi-government or autonomous organizations. And from this year, it has been made mandatory for private employees to submit annual income tax returns or returns. Whether they have taxable income or not, they will have to submit their tax returns. The NBR will even check whether they have submitted their returns correctly. Tax officials will also scrutinize the accounting of the December salary expenses of the organization in which the taxpayer works. Meanwhile, in the last fiscal year, it was made mandatory to obtain a Tax Identification Number (TIN) for salaried employees employed in executive or management positions in business or profession. As a result, more than seven lakh such private employees took TIN last time. This year, it has been made mandatory for them to file their returns. So this time, many will submit their income tax returns for the first time. All income and expenses incurred between July 2016 and June this year must be included in the income tax return. On the other hand, if you do not obtain a TIN certificate or submit a return, you will not be able to show the salary and allowances you received from the organization as your own expenses.
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