Salient Features of Finance Ordinance 2025
What are the salient features of Finance Ordinance 2025 that will impact your tax compliance requirements for the financial year 2025-26? In this article, today we will focus on corporate tax changes through the Finance Ordinance. We have already published a separate article where we have discussed personal tax changes through Finance Ordinance 2025. And […]
Income tax changes for personal and corporate taxpayers in FY2024-25
While the cost of living is high, with an inflation rate over 9 percent throughout the year, then no light of hope comes for the common people in the budget declared today. This is upsetting for the lower- and middle-income earner by ignoring the high living expenses. The personal taxpayers expect that their tax burden […]
Information Regarding Filing of Return by Employees: Your Annual Tax Compliance Guide
A new requirement under Schedule (Chha), Rule 15 of the Withholding Tax Rules 2024 mandates every employer to submit a statement to the tax circle each year containing information about their employees’ individual tax return filings. This obligation ensures that companies are keeping track of which employees have met their tax filing responsibilities and are […]
Are You Up to Date on Your Annual Salary Payment Statement
If you work in the accounts department and are responsible for processing employee salaries each month, you might not be aware of a crucial annual requirement: submitting a salary payment statement under Schedule (Cha), Rule 15 of Withholding Tax Rules 2024. Missing this can lead to penalties, so it’s essential to understand what’s required. Who […]
Everything you should know about monthly tax return filing on TDS
Do you know in each month two statements shall require to submit to the tax circle on tax deducted or collected at sources? These two monthly tax return filing on TDS at prescribed format are provided under rule 18(7) and rule 21 of the Income Tax Ordinance 1984. If the statements are not submitted to […]
Do you have submitted annual company tax return?
In case of company, annual tax return shall be submitted by 15th day of the 7th month following the end of the income year. where the said date falls before the 15th day of September then the Tax Day will be 15th day of September following the end of the income year. If the above specified day is a […]
Quarterly Filing of Withholding Tax Return: What You Need to Know
In Bangladesh, the Income Tax Act 2023 has introduced specific requirements for filing quarterly withholding tax return. These returns must be submitted to the Deputy Commissioner of Taxes (DCT) using a prescribed format. Understanding the deadlines, responsibilities, and consequences of non-compliance is essential for businesses and institutions that fall under the scope of this law. […]
Changes of Income Taxes 2020
Finance Act 2020 has already been passed and the changes will impact in the financial year 2020-21. The major changes of income taxes 2020 through Finance Act 2020 are divided into three parts which are discussed one by one. Personal Tax The major changes of income taxes for individual taxpayers are increase the tax-free limit […]