Notices will be issued to individuals who fail to submit their income tax returns. The income, expenses, and asset details of those holding a Tax Identification Number (TIN) will be subject to on-site investigation, and taxes will be collected in accordance with the law.

This information was provided in a press release by the National Board of Revenue (NBR).

The NBR’s press release further stated that data regarding these activities must be reported at every monthly revenue meeting. To enhance revenue collection, each tax region will focus on identifying tax evasion through increased intelligence operations. These resolutions were made during the revenue meeting held last Thursday, as mentioned in the NBR press release.

Currently, there are approximately 1.12 crore TIN holders, with 40 to 42 lakh of them filing returns annually.

Filing returns is not compulsory for everyone. Taxes must be paid by filing returns only if the annual income exceeds 3.5 lakh taka.