The number of income tax return submissions in the first quarter or July to September period of the current financial year 2022-23 has reached 3,30,000 compared with that of 1,00,000 in the same period of 2021-22, according to the National Board of Revenue.

Among the 3,30,000 tax payers, nearly 10 per cent TIN holders submitted their income tax returns online.

The surge came after the government made it mandatory to submit return submission documents for receiving at least 42 government services, said NBR officials.

Until the end of the previous fiscal year, people used to show TIN for availing such services, they said.

Observing the return submission tendency among TIN holders, revenue officials hope that the number of tax returns may jump to over 50 lakh this fiscal year.

There are over 70 lakh tax identification number holders in the country, but 24-25 lakh people file their returns every year.

The time for submission of tax returns by individuals started on July 1 and will expire on November 30 but the NBR had been extending the deadline every year till December 30.

According to Income Tax Paripatra 2022-2023, for the first-time this year NBR has extended the deadline for filing tax returns for first-time return filers by seven months without charging any penalty.

The tax day for new taxpayers will be June 30 instead of November 30.

TIN holders who did not submit their returns so far will have their penalties waived if they submit it this year by showing a good reason, said NBR officials.

The income tax wing managed to collect Tk 1,02,000 crore in the past financial year while the collection shortfall was 3.30 per cent or Tk 3,475 crore against the target of Tk 1,05,475 crore for the period.

The government has set the target at Tk 1,38,000 crore in income tax for FY23.

In the first three months of FY23, income tax revenue earnings increased by 11.55 per cent to Tk 20,087 crore from Tk 18,007 crore for the same period of FY22.

According to the NBR data, the wing was able to collect 94 per cent revenue against the first quarter target of Tk 21,212 crore.

Besides, during the period, the number of individual taxpayer’s identification number holders has increased by 19.44 per cent to Tk 2.15 lakh which was 1.8 lakh for the same period of the previous fiscal year.

The number of TIN holders reached 78.5 lakh, according to NBR.