Why is it necessary to register for income tax?

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A taxpayer is identified as a taxpayer through registration (Taxpayer Identification Number-TIN). Registration is required if the income limit of individual taxpayers (including non-resident Bangladeshi), Hindu joint family, partnership firm, individual association, and artificial person created by income tax law is above Tk. 3,00,000 / =. The registered taxpayer calculates the annual income, expenditure, and savings by submitting the return at the end of the year.
Income tax registration is required in the following cases:

  1. Opening of debentures for the purpose of import;
  2. Time of application for the purpose of obtaining Import Registration Certificate;
  3. When renewing a trade license in a corporation or municipal area;
  4. The contract is effective, at the time of submission of tenders for the purpose of providing goods or services;
  5. At the time of filing an application for membership of a club registered under the Companies Act, 1994;
  6. At the time of enrollment or license receipt or renewal as a general insurance surveyor;
  7. If the contract value of land, building or apartment located in any municipality area of ​​a city corporation or district headquarters is more than one lakh rupees, then at the time of registration of purchase of that land, building or flat.
  8. If the purchaser of any land, building or apartment located within the City Corporation area is a non-resident Bangladeshi of Bangladesh, the provision of (f) shall not be applicable at the time of registration of his purchase;
  9. Change of ownership of car, jeep or microbus or renewal of fitness registration;
  10. In case of disbursement of loan of more than Rs. 5 (five) lakhs to any person by any commercial bank or leasing company;
  11. Credit card issuance time;
  12. At the time of approval of professional license of doctor, chartered accountant, hardship and management accountant, lawyer or income tax professional;
  13. When being a director of a company or a sponsor shareholder of a company;
  14. The provisions of (k) shall not apply to non-residents who are not citizens of Bangladesh;
  15. At the time of issuing license to the Registrar of Marriages under the Muslim Marriage and Divorce (Registration) Act, 1984. Provided, however, that in the case of a person who has already obtained a license as a marriage registrar, the TIN certificate must be collected;
  16. In renewing membership or applying for membership of any trading company;
  17. At the time of submission of plan for construction of houses for approval of Capital Development Authority (RAJUK), Chittagong Development Authority (CDA), Khulna Development Authority (KDO) and Rajshahi Development Authority (RDA);
  18. When issuing drug licenses;
  19. At the time of application for gas connection on commercial basis between City Corporation, Municipal Council or Cantonment Board area;
  20. At the time of application for commercial based electricity connection between City Corporation, Municipal Council or Cantonment Board area;
  21. Registration of hired buses, trucks, prime movers, lorries, etc. during registration, change of ownership, fitness renewal and playing for hire;
  22. At the time of issuance or renewal of certificates for launches, steamers, fishing trawlers, cargo, coasters, dump-barges, etc., including rented water vessels.
  23. At the time of registration or renewal of the certificate as an agent of the insurance company;
  24. Permission or renewal of permission for manufacture of bricks by the office of the Deputy Commissioner or by the Department of Environment;
  25. At the time of submission of nomination papers of candidates for Upazila, Municipality, City Corporation and National elections;
  26. Due to being a parent or guardian at the time of admission of students in English medium school according to the international curriculum located in any city area of ​​a city corporation or district headquarters.

Now in Digital Bangladesh lot of financial work must have a TIN and without TIN it’s made impossible to do so. When you have a TIN, you have to submit a Tax Return at the end of every income year.

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