In Bangladesh, new income tax Act was enacted on June 22, 2023. The new law has replaced the old one titled “Income Tax Ordinance 1984”. Almost all the provisions of the old law have remained the same, whereas the government has incorporated some new sections under the Income Tax Act 2023. Today, we will be addressing the mandatory need for Proof of Submission of Return (PSR).
What is Proof of Submission of Return (PSR) ?
Firstly, a common question that may arise is – What is Proof of Submission of Return (PSR)? According to sub-section 2 of Section 264 of the Income Tax Act 2023, any one of the following shall be considered as PSR –
(a) Acknowledgement receipt of the Return
(b) System generated Certificate containing the name and TIN of the assessee and the assessment year
(c) Certificate issued by the Deputy Commissioner of Taxes (DCT) containing the name and TIN of the assessee and the assessment year
So, presenting any one of the above shall be deemed as PSR under Section 264 of the Income Tax Act 2023.
What is the number of area for which proof of submission of return (PSR) is required ?
Like the old law, the new Income Tax Act has also retained the provision to show, check, or preserve the Proof of Submission of Return (PSR) to access certain services. Furthermore, the Act has extended this requirement. Previously, in 38 cases, anyone had to show PSR, but now it has been increased to 43. So, PSR requirements increased.
Where Proof of Submission of Return (PSR) is required ?
Now, let’s proceed to the list. Yes, here is the comprehensive list where you are obligated to verify or provide Proof of Submission of Return (PSR).
| Serial | List |
| 1 | Loan exceeding Tk. 20 lakh subject to no taxable income; |
| 2 | Becoming a director or a sponsor shareholder of a company; |
| 3 | Obtaining or continuing an import registration certificate or export registration certificate; |
| 4 | Obtaining or renewal of a trade license in the area of a city corporation or paurashava; |
| 5 | Obtaining registration of co-operative society; |
| 6 | Obtaining or renewal of license or enlistment as a surveyor of general insurance; |
| 7 | Obtaining registration, by a resident, of the deed of transfer, baynanama or power of attorney or selling of a land, building or an apartment situated within a city corporation or a paurashava of a district headquarter or cantonment board, where the deed value exceeds Tk. 10 lakh; |
| 8 | Obtaining or maintaining a credit card; |
| 9 | Obtaining or continuing the membership of the professional body as a doctor, dentist, lawyer, chartered accountant, cost and management accountant, engineer, architect or surveyor or any other similar profession; |
| 10 | Obtaining and retaining a license as a Nikah Registrar under the Muslim Marriages and Divorces (Registration) Act. 1974 (LII of 1974); |
| 11 | Obtaining or continuing the membership of any trade or professional body; |
| 12 | Obtaining or renewal of a drug license, a fire license, environment clearance certificate, BSTI licenses and clearance; |
| 13 | Obtaining or continuing commercial and industrial connection of gas in any area and Obtaining or continuing residential connection of gas in city corporation area; |
| 14 | Obtaining or continuing a survey certificate of any water vessel including launch, steamer, fishing trawler, cargo, coaster and dumb barge etc., plying for hire; |
| 15 | Obtaining the permission or the renewal of permission for the manufacture of bricks by Deputy Commissioner’s office in a district or Directorate of Environment, as the case may be; |
| 16 | Obtaining the admission of a child or a dependent in an English medium school providing education under international curriculum or english version of national curriculum, situated in any city corporation, district headquarter or paurashava; |
| 17 | Obtaining or continuing the connection of electricity in a city corporation or cantonment board; |
| 18 | Obtaining or continuing the agency or the distributorship of a company; |
| 19 | Obtaining or continuing a license for arms; |
| 20 | Opening a letter of credit for the purpose of import; |
| 21 | Opening postal savings accounts of Tk. exceeding 5 lakhs; |
| 22 | Opening and continuing bank accounts of any sorts with credit balance exceeding Tk. 10 lakhs; |
| 23 | Purchasing savings instruments (Sanchayapatra) of Tk. exceeding 5 lakhs; |
| 24 | Participating in any election in upazilla, paurashava, zilla parishad, city corporation or Jatiya Sangsad; |
| 25 | Participating in a shared economic activities by providing motor vehicle, space, accommodation or any other assets. |
| 26 | Receiving any payment which is an income of the payee classifiable under the head “Salaries” by any person employed in the management or administrative function or in any supervisory position in the production function; |
| 27 | Receiving any payment of which is an income of the payee classifiable under the head “Salaries” by a public servant; |
| 28 | Receiving any commission, fee or other sum in relation to money transfer through mobile banking or other electronic means or in relation to the recharge of mobile phone account; |
| 29 | Receiving any payment by a resident from a company on account of any advisory or consultancy service, catering service, event management service, supply of manpower or providing security service; |
| 30 | Receiving any amount from the Government under the MPO if the amount of payment exceeds tk. 16,000 per month; |
| 31 | Registration or renewal of agency certificate of an insurance company; |
| 32 | Registration, change of ownership or renewal of fitness of a motor vehicle of any types excluding two and three wheeler; |
| 33 | Releasing overseas grants to a non-government organisation registered with NGO Affairs Bureau or to a Micro Credit Organisation having licence with Micro Credit Regulatory Authority; |
| 34 | Selling of any goods or services by any digital platforms to consumers in Bangladesh. |
| 35 | Submitting application for the membership of a club registered under Companies Act 1994 and Societies Registration Act, 1860 |
| 36 | Submitting tender documents by a resident for the purpose of supply of goods, execution of a contract or rendering a service; |
| 37 | Receiving the supply of any goods or service by any company or firm; |
| 38 | Submitting a bill of entry for import into or export from Bangladesh; |
| 39 | Submitting plan for construction of building for the purpose of Obtaining approval from Rajdhani Unnayan Kartripakkha (Rajuk), Chittagong Development Authority (CDA), Khulna Development Authority (KDA) and Rajshahi Development Authority (RDA) or other concerned authority in any city corporation or paurashava; |
| 40 | Obtaining or continuing a registration, license or enlistment as a vendor of stamps, court fees and cartridge paper or a deed writer; |
| 41 | Opening and continuing bank accounts of trusts, funds, foundations, NGOs, microcredit organizations, societies and cooperative societies; |
| 42 | Renting or leasing house property of the owner in the city corporation area by a specified person; |
| 43 | Receiving supply of goods or service by a particular person; |
Checking Proof of Submission of Return (PSR) Online
If you want to check Proof of Submission of Return (PSR), you can check it online right away.
Tax Return verification online
Conclusion - Proof of Submission of Return (PSR)
In our blog post, Proof of Submission of Return (PSR) requirement has been outlined based on the available information up to October 2023. It can be changed from time to time.
Proof of Submission of Return (PSR) - Source/ Reference:
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