May 5, 2021 | Investopaper
The private sector has demanded to extend the tax payment time saying that industries, trade and business have been shut down after the issue of lockdown in various districts of the country due to the Covid-19 epidemic.
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Nepal Chamber of Commerce (NCC) on Tuesday requested the government to extend the deadline for submission of details of excise duty, advance tax deduction of income tax and tax payment. They have demanded an extension of tax filing time as it is difficult to submit tax returns and pay taxes during this period.
As per the current provision, the tax statement of one month tax period should be submitted to the concerned tax office within 25 days from the date of expiry of that period. If you do not submit the tax details of the previous month by the 25th of this month, you will have to pay the penalty.