Income tax return submission grow by 20% in 9 months

The total number of income tax return submission stood at 25,43,337 in the first nine months of the current fiscal year, registering a growth of 19.72 percent over the previous year, according to the budget speech.

The number increased as the submission of income tax returns was made mandatory for all TIN holders with some reasonable exceptions, said AHM Mustafa Kamal while delivering the budget speech in the parliament on Thursday.

To facilitate VAT collection and to prevent VAT evasion, Electronic Fiscal Device ( EDF) and Sales Data Controller (SDC) has been installed in about 3,000 sales and service points till March 2021.

The government has planned to install EFD or SDC in all registered business establishments across the country in phases.