Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Taxpayers with annual transactions exceeding NPR 10 million will now have until the end of Poush (mid-January 2025) to submit their income details for the fiscal year 2080/81. The Inland Revenue Office issued a notice on Tuesday, informing that if such taxpayers request an extension, the deadline will be automatically extended to the end of Poush through the department’s Integrated Tax System.
The department clarified that this decision was made on Sunday and subsequently communicated through the notice.
However, on Monday, the Patan High Court issued an order to immediately halt the implementation of the Inland Revenue Department’s earlier decision made in Asoj regarding deadline extensions for submitting income details based on business volume.
Justice Hemant Rawal’s single bench directed the Office of the Prime Minister, Ministry of Finance, Revenue Investigation Department, and other relevant bodies not to implement the department’s notice issued in Asoj regarding income detail submissions.
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