Metropolis Desk-
The National Board of Revenue began testing its single tax filing system on Monday in two tax jurisdictions to expand the use of electronic tax return preparation and submission beginning on November 1 of this year.
They will be able to print the completed returns, receive confirmation or acknowledgment receipts of their returns electronically from the authority, view their profile as taxpayers and their filing history, and obtain tax payment certificates electronically.
Taxpayers will also be able to prepare their annual income and expense statements and submit them online. Tax collectors would also be able to track the pattern of tax return filing and payment.
A taxpayer must submit a separate form found on the website to obtain the password to file a tax return online. At a cost of Tk 78.98 crore, the NBR launched an effort for the electronic submission of tax returns in 2011.
Taxpayers will be able to file their returns and submit challans as evidence of their tax payments. The deadline for filing individual income tax returns is November 30.
Those who fail to file their taxes by the deadline will be subject to a penalty. The software has already been updated to reflect the income tax-related adjustments for the current fiscal year.
