Dhaka, Aug. 10 -- The National Board of Revenue (NBR) on Sunday warned that filing so-called 'zero tax returns' is illegal under the Income Tax Act 2023 and may result in imprisonment for up to five years.

In a statement issued on Sunday, the NBR said it has noticed several misleading posts on social media promoting the idea that a taxpayer can submit a return by filling all income, expenditure, assets and liabilities fields with 'zero'.

The NBR clarified that there is no provision for such a return under the Income Tax Act. Taxpayers are legally required to declare their actual income, expenditure, assets and liabilities in their returns.

Submitting false or misleading information, including declaring zero income, expenditure, assets ...