ASM & ASSOCIATES

Personal Tax return

Personal Tax return

​In Bangladesh, filing a personal income tax return is mandatory for individuals whose annual income exceeds specific thresholds, as well as for those involved in certain professional activities or seeking particular services.​bdnews24.com

Who Must File a Personal Income Tax Return?

You are required to file a tax return if:​

  • Your annual income exceeds BDT 350,000 (for males) or BDT 400,000 (for females and senior citizens aged 65 and above) .​

  • You had taxable income or paid taxes in any of the previous three years .

  • You are a partner in a firm, a shareholder-director, or a shareholder-employee in a company .​

  • You hold an executive or managerial position in any business or profession .​

  • You apply for a loan exceeding BDT 2 million, even if you have no taxable income .​

  • You need to obtain or renew a trade license in city corporation or municipal areas .

  • You are applying for or renewing an import or export registration certificate .​

Benefits of Filing a Personal Income Tax Return

  • Eligibility for Tax Rebates: Filing a return allows you to claim tax rebates on investments, which can reduce your taxable income.​

  • Access to Financial Services: A filed tax return is often required when applying for loans, trade licenses, or other financial services.​

  • Legal Compliance: Filing ensures compliance with the Income Tax Act, helping you avoid penalties and legal issues.​

Personal Income Tax Rates for FY 2024/25

For the fiscal year 2024/25, the personal income tax rates in Bangladesh are as follows:​

  • First BDT 350,000: 0%​

  • Next BDT 100,000: 5%​

  • Next BDT 400,000: 10%​

  • Next BDT 500,000: 15%​

  • Next BDT 500,000: 20%​

  • Next BDT 2,000,000: 25%​

  • Above BDT 3,850,000: 30%​

Note: The basic exemption limit varies based on the taxpayer’s category:​

  • BDT 400,000 for females and senior citizens aged 65 and above​

  • BDT 475,000 for individuals with disabilities and third-gender taxpayers​

  • BDT 500,000 for gazette war-wounded freedom fighters .​

Filing your personal income tax return is not only a legal obligation but also a step toward financial responsibility and access to various services