The deadline for income tax return submission, after being extended three times, ended today and will not be extended further this year, the National Board of Revenue (NBR) has announced.

Taxpayers who missed the February 16 deadline will now face a 2 percent penalty on their unpaid tax amount for each month.

As per the law, this penalty will continue for up to a maximum of two years, according to a press release issued by the NBR.

In a significant move, the NBR has stated that the online tax return filing service will remain available throughout the year, beyond the Income Tax Day deadline.

Additionally, taxpayers who file their returns after the deadline will not be eligible for investment tax rebates or any form of tax exemptions under existing laws.

"We have witnessed a strong response to online tax return submissions. As of now, 14.10 lakh taxpayers have filed their returns through the online platform," NBR Chairman Md Abdur Rahman Khan said today while speaking to reporters at the NBR headquarters in Dhaka's Agargaon.

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"We expect this number to increase by another 20,000 to 30,000 before the February 16 deadline," Khan added.

In addition to online submissions, many taxpayers have also filed their returns manually.

In total, approximately 37 to 38 lakh taxpayers have submitted their returns this year, he said.

According to NBR data, the number of registered Taxpayer Identification Number (TIN) holders currently stands at around 1.14 crore.

Typically, the deadline for tax return submission is November 30 for the income year ending in the preceding June.

The NBR had initially extended it to December 31, followed by another extension to January 31, and finally, to February 16.

Meanwhile, the deadline for filing returns for firms will expire on March 16.