How to Submit Tax Return Online in Bangladesh 2024
What is Tax?
Tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. Taxes are levied on individuals or entities, and failure to pay is punishable by law.
Who Should Pay Taxes?
In Bangladesh, taxes are applicable to individuals, companies, and other entities. Here’s a simplified overview of who should pay taxes:
- Individuals: Any individual earning more than the minimum taxable income set by the government.
- Companies: All registered companies operating within Bangladesh.
- Other Entities: This includes partnerships, trusts, and other organizations earning income.
Why You Should Pay Taxes?
Paying taxes is essential for several reasons:
- Funding Public Services: Taxes fund essential services such as healthcare, education, infrastructure, and security.
- Legal Obligation: Paying taxes is a legal requirement.
- Economic Stability: Taxes help in maintaining the economic stability of the country by funding various government projects and services.
Required Documents
To file your tax return online in Bangladesh, you will need the following documents:
- National ID card or TIN certificate
- Salary statements or income certificates
- Bank statements
- Investment documents
- Property documents
- Previous year’s tax return (if applicable)
- Any other documents that support your income and expenditure claims
A Step-by-Step Guide to Filing Your tax return online
Registering with the e-Return System
Before you can file your tax return online, you must register with the e-return system provided by the National Board of Revenue (NBR).
Registration Process:
- Visit the NBR e-Return website.
- Click on the ‘Register’ button.
- Fill in the required details: name, TIN, email, phone number, etc.
- Verify your email and phone number.
- Create a username and password.
- Log in to your account.
Step 1: Enter the e-Return System and Log In
- Go to the NBR e-Return portal.
- Enter your username and password.
- Click ‘Log In’.
Step 2: Tax Assessment Information
- Select the tax year (2024).
- Enter your TIN.
- Provide your assessment zone.
| Field | Details Required |
|---|---|
| Tax Year | 2024 |
| TIN | Your TIN |
| Assessment Zone | As per your tax jurisdiction |
Step 3: Income Details
- Enter your total annual income.
- Include income from all sources such as salary, business, investments, etc.
| Source of Income | Amount (BDT) |
|---|---|
| Salary | |
| Business | |
| Investments | |
| Other Sources | |
| Total Income |
Step 4: Additional Information
- Provide details of any additional income not covered in the previous section.
- Enter information on any foreign income.
| Additional Income | Amount (BDT) |
|---|---|
| Rent | |
| Royalties | |
| Foreign Income | |
| Other | |
| Total Additional Income |
Step 5: IT10B Requirements
Fill in the details required for IT10B form which is necessary for individuals.
| IT10B Details | Information Required |
|---|---|
| Name | |
| TIN | |
| Assessment Year | |
| Income from Salary | |
| Income from Business | |
| Total Income |
Step 6: Income Details (Consolidated)
Consolidate all income details from various sources.
| Income Source | Amount (BDT) |
|---|---|
| Total Income | |
| Additional Income | |
| Gross Income |
Step 7: Investment Category
- List all your investments eligible for tax rebates.
- Enter the amounts invested.
| Investment Type | Amount Invested (BDT) |
|---|---|
| Savings Certificates | |
| Provident Fund | |
| Stocks | |
| Mutual Funds | |
| Total Investments |
Step 8: Expenditure
- Provide details of allowable expenditures that can be deducted.
- Include medical expenses, educational expenses, etc.
| Expenditure Type | Amount (BDT) |
|---|---|
| Medical Expenses | |
| Educational Expenses | |
| Donations | |
| Others | |
| Total Expenditure |
Step 9: Tax and Payment
- Calculate your total taxable income.
- Determine the tax payable based on the NBR tax slab.
- Enter any advance tax paid.
| Details | Amount (BDT) |
|---|---|
| Gross Income | |
| Investments (Rebates) | |
| Expenditures | |
| Taxable Income | |
| Tax Rate | |
| Tax Payable | |
| Advance Tax Paid | |
| Net Tax Payable |
Step 10: Return View
- Review all the information entered.
- Ensure accuracy and completeness.
Step 11: Download Acknowledgement Receipt
- Once the return is submitted, download the acknowledgment receipt.
- Keep it safe for future reference.
| Step | Action |
|---|---|
| Download Receipt | Save and print the receipt |
Conclusion
Filing your tax return online in Bangladesh is a straightforward process if you follow these steps meticulously. Ensure you have all your documents ready and accurately fill in the required information. By doing so, you comply with the law and contribute to the nation’s development.
FAQ
Q: What is the deadline for filing taxes online?
A: The deadline is best to check the NBR website for any changes or extensions.
Q: Can I file my tax return without a TIN?
A: No, having a TIN is mandatory for filing tax returns.
Q: What happens if I don’t file my tax return?
A: You may face penalties, interest on unpaid taxes, and legal actions.
Q: How can I get help with filing my tax return?
A: You can seek assistance from tax consultants or refer to the NBR’s guidelines available on their website.
Can I File an Income Tax Return Online?
Yes, you can file an income tax return online in Bangladesh through the National Board of Revenue (NBR) e-Return portal. This system allows individuals and businesses to submit their returns digitally, saving time and simplifying the tax filing process. Be sure to register on the portal and keep all required documents handy before starting.
How to Pay Income Tax Online in BD?
To pay your income tax online in Bangladesh:
- Log in to the NBR e-Return Portal: Go to the NBR e-payment section within the portal.
- Select Payment Option: Choose your preferred payment method, such as bank transfer, credit/debit card, or mobile banking (like bKash or Nagad).
- Enter Tax Details: Specify the amount of tax due and the tax assessment year.
- Confirm and Complete Payment: Confirm your details and complete the payment.
- Download Payment Receipt: Save and print the receipt for future reference.
By following these steps, you can ensure a smooth and hassle-free tax filing experience. Make sure to stay updated with any changes in tax regulations by regularly visiting the NBR website. Filing and paying your tax return online in Bangladesh has never been easier. The National Board of Revenue’s (NBR) e-Return portal simplifies the process, allowing you to file returns and make payments with just a few clicks. By submitting your taxes on time and online, you comply with legal requirements and contribute to national development through funding essential services and infrastructure. With a clear understanding of the steps involved, you can take control of your tax responsibilities without the hassle of paperwork or lengthy office visits.
Have you filed your tax return online before? Was it a smooth experience, or did you face any challenges? Share your experiences or questions in the comments below—we’d love to hear from you and help with any queries!