DHAKA: National Board of Revenue (NBR) failed to fulfill its target as 8.45 lakh individuals submitted their income tax returns (ITR) till Tuesday even after extending the submission dates twice.

Tuesday was the last day to submit the tax returns. 

According to sources of NBR, the central tax authority, it had eyed for a target of 13 lakhs ITR submissions.

Of the 13 lakhs, 3 lakhs are newly tax identification number (TIN) holders while 10 lakhs are old TIN holders.

Meanwhile, some 1.95 lakhs TIN holders applied for increasing submission time to the Deputy Commissioner of Taxes.

With these applications, a total of 10.4 lakhs individuals would submit tax returns to NBR, added the sources.

According to NBR, it has collected some Tk. 1,390 crore from around 8.5 lakhs tax return submissions while Tk. 1,288 crore from the rest of the submissions till December 2013.

According to the Income Tax Ordinance, tax returns are to be submitted by the month of September each fiscal. 

NBR extended the dates upon the request from Federation of Bangladesh Chambers of Commerce and Industry twice.

BDST: 1445 HRS, DEC 02, 2014