Do you have missed tax return filing?
As per section 2(62A) of Income Tax Ordinance 1984, ‘Tax Day’ means 30 November following the end of the income year. This is the last day of filing tax return by individual taxpayer. But due to COVID-19, one month has been extended for tax return submission without penalty. So, the last day of income tax […]
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 […]
How IT businesses can pay zero taxes (the SECRETS you must know)?
Are you doing IT businesses in Bangladesh and paying taxes to the government? Do you know certain IT businesses are enjoying tax free benefit upto 2024? That means if your IT business falls under those categories then you can also pay zero taxes! But what are those IT businesses? As per paragraph 33, part A […]
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 […]
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 […]