Cancellation TIN (1)

Cancellation of TIN Certificate Background:Sometimes we see that to perform some specific task we need to submit TIN certificate though we do not have taxable income or sometimes we obtain TIN certificate mistakenly or without any specific reason. First of all, we have to understand one thing clearly is that, a TIN cannot be cancelled instantly if one has been opened for whatever reason. Whenever we receive the TIN certificate we have to submit the Tax Return to the DCT three years in a row except some individual specified in the section 75 of ITO 1984. Procedure of Cancellation of TIN Certificate: Generally there is no clear indication for cancellation of TIN certificate for individuals in the Income Tax ordinance 1984. TIN certificate cannot be cancelled but it can be kept as dormant. if a person has no taxable income and there is no possibility of taxable income in future, and the individual submitted the Zero Return to the DCT last three preceding year in that situation a person can apply for making the inactive of TIN certificate to Deputy Commissioner of taxes. The following procedure has to maintain one individual.01. Application to DCT (In your circle as per TIN Certificate) for cancellation of TIN by mentioning the reason of cancellation with last three years zero Tax return. 02. Based on Application DCT may arrange inspection or Hearing. 03. Inactive the TIN by DCT. This is also applicable for the person who died. In this case legal representative can take the initiative for cancellation of TIN Assessment in case of persons leaving in Bangladesh: When any person permanently leave Bangladesh and he has no intension to come in Bangladesh, in that case, this individual has to submit his return under section 91 of ITO 1984, to the DCT by confirming all the tax dues and liability being settled or deposited already. And his income should be assessed to the probable date of his departure from Bangladesh. 1Assessment in case of Discontinue of Business:Whenever any company making loss and they want to discontinue to their business in any financial year In this situation In this situation, A Company has to give notice to the Deputy Commissioner of Taxes (DCT) within fifteen days with attaching the return of total income of between the end of previous income year and till the date of discontinuance. Source: 1. Section 91 of ITO 19842. Section 89 of ITO 1984