How to Fill Up the Income Tax Return Both Online and Offline in Bangladesh

Fill Up your income tax return is an essential responsibility for every taxpayer in Bangladesh. In 2024, the process has become increasingly accessible, with both online and offline options available. This guide provides a detailed walkthrough of how to navigate both methods effectively.

Understanding the Income Tax Return Process

Before diving into the specifics of filing your income tax return, it is vital to understand what an income tax return entails. It is a document that reports your income, expenses, and other relevant tax information to the National Board of Revenue (NBR). Properly filing this return ensures compliance with the tax regulations and helps avoid penalties.

Key Documents Required

Regardless of the filing method you choose, certain documents are necessary to complete your income tax return:

• National ID or TIN: Your Tax Identification Number (TIN) is mandatory for filing.
• Income Statements: This includes salary slips, business income statements, or any other income sources.
• Bank Statements: To verify your income and any deductions claimed.
• Investment Documents: Information on investments that qualify for tax deductions, such as contributions to savings instruments.
• Tax Payment Receipts: Evidence of any taxes paid during the year.

Filing Your Income Tax Return Online

Step 1: Visit the NBR Website

To start the online filing process, navigate to the NBR official website. This portal is the gateway to e-filing your income tax return.

Step 2: Create or Log in to Your Account

If you are a first-time user, you will need to create an account by providing your National ID and other relevant details. Existing users can simply log in to their accounts.

Step 3: Select the Appropriate Tax Year

Once logged in, select the tax year for which you are filing the return. Ensure that you are filing for the 2023-2024 assessment year to avoid confusion.

Step 4: Fill Out the Online Form

The online form consists of various sections, including:

• Personal Information: Enter your name, address, TIN, and other personal details.
• Income Sources: Clearly specify all income sources. This includes salary, business income, rental income, etc.
• Deductions: Include any eligible deductions you wish to claim, such as investments in government savings schemes.

Step 5: Review and Submit

After filling out the form, carefully review all entries. Check for errors or missing information. Once satisfied, submit your return electronically.

Step 6: Download Acknowledgment Receipt

Upon submission, you will receive an acknowledgment receipt. Save this document as proof of your filing.

Filing Your Income Tax Return Offline

If you prefer the traditional method of filing, you can opt for offline submission. Here’s how:

Step 1: Obtain the Income Tax Return Form

Visit your local NBR office or download the income tax return form (Form 1.0) from the NBR website. Ensure you have the latest version of the form for 2024.

Step 2: Fill Out the Form

Similar to the online process, fill out the following sections in the form:

• Personal Information: Ensure that your details are accurate.
• Income Sources: Provide comprehensive information regarding all your income.
• Deductions: Clearly state any deductions you plan to claim.

Step 3: Attach Supporting Documents

Attach all necessary supporting documents to validate your claims. This includes income statements, bank statements, and proof of deductions.

Step 4: Submit at the NBR Office

Once you have completed the form and attached the required documents, submit your return at your local NBR office. Ensure that you receive an acknowledgment slip as proof of submission.

Important Tips for Tax Filing in 2024

1. Keep Records: Maintain thorough records of all financial documents and communications with the NBR. This will aid in any future inquiries.
2. Deadline Awareness: Be aware of the income tax filing deadline to avoid penalties. Typically, the deadline is set for November 30 of the assessment year.
3. Seek Professional Assistance: If your tax situation is complex, consider consulting with a tax professional for guidance.
4. Stay Informed: Tax regulations can change frequently. Keep abreast of any updates from the NBR to ensure compliance.
5. Utilize Online Resources: Take advantage of online resources and tools available on the NBR website to simplify the process.

Conclusion

Filing your income tax return in Bangladesh for 2024 is a straightforward process, whether you choose to do it online or offline. By following the detailed steps outlined in this guide, you can ensure that your filing is accurate and timely. Remember to keep all necessary documents organized and consult with a professional if needed.

FAQS

1. Who is required to file a tax return in Bangladesh?

A tax return must be filed by everyone whose income beyond the designated criteria (Tk 300,000 for men and Tk 350,000 for women, for example). There are additional requirements for elderly people, people with physical disabilities, and other groups.

2. How is income tax calculated in Bangladesh?

Bangladesh uses a progressive tax system to compute income tax, meaning that as income levels rise, so does the tax rate. There are several tax rates for different income bands, which range from 0% to 25%.

3. Can I fill up income tax return online if I don’t have a TIN certificate?

No, you cannot file an internet tax return unless you have received a 12-digit TIN certificate. A TIN certificate is required for every tax return.

4. How can I make a tax payment in Bangladesh?

Tax payments can be done at the tax office, online, or through specific banks. The electronic payment methods are also supported by the e-return system.

5. How do I register for the e-return system in Bangladesh?

Visit the NBR website, enter your biometrically registered mobile number and TIN, finish phone verification using the given OTP, and create a password for future logins in order to register.