Income Tax Act 1947 · 2020 Revised Edition · Part 16 · Returns
63. Furnishing of estimate of chargeable income if no return is made under section 62
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Subject to subsection (1AAA), and unless exempted by rules mentioned in subsection (3), every person, not being an individual, who has not made a return under section 62 for any year of assessment must, within 3 months after the end of the accounting period relating to that year of assessment, or such extended time as the Comptroller may allow, furnish to the Comptroller an estimate of the person’s chargeable income.
Unless exempted by rules mentioned in subsection (3), every insurer (other than a captive insurer or a marine mutual insurer) who has not made a return under section 62 for the year of assessment for an accounting period beginning on or after 1 January 2023 must, within 3 months after the end of the calendar year preceding the year of assessment or such extended time as the Comptroller may allow, furnish to the Comptroller an estimate of the insurer’s chargeable income.
year of assessment
“year of assessment” means the period of 12 months commencing on 1 January 1948, and each subsequent period of 12 months.
A person mentioned in subsection (1) or (1AAA) must furnish the estimate of the person’s chargeable income for a year of assessment using the electronic service if rules mentioned in subsection (3) require a class of persons to furnish their estimates for that year of assessment using the electronic service, and the person belongs to that class.
electronic service
“electronic service” means the electronic service provided by the Comptroller under section 8A(1);
Unless exempted by rules mentioned in subsection (3), every individual carrying on or exercising any trade, business, profession or vocation who has not made a return under section 62 for any year of assessment must, within 3 months after the end of the accounting period relating to that year of assessment, or such extended time as the Comptroller may allow, furnish to the Comptroller an estimate of the individual’s chargeable income.
Comptroller
“Comptroller” means the Comptroller of Income Tax appointed under section 3(1) and includes, for all purposes of this Act except the exercise of the powers conferred upon the Comptroller by sections 34F(9), 37L(7), 37M(5), 67(1)(a), 95, 96, 96A and 101, a Deputy Comptroller or an Assistant Comptroller so appointed;
Subsection (1A) does not apply for a year of assessment between the years of assessment 2026 and 2030 (both years inclusive).
Any person who fails or neglects without reasonable excuse to furnish the estimate of the person’s chargeable income as required under subsection (1), (1AAA), (1AA) or (1A) shall be guilty of an offence.
The Minister may, by rules made under section 7, do any of the following:
require a specified class of persons subject to subsection (1) or (1AAA) to furnish the estimate of their chargeable income for any year of assessment under that subsection using the electronic service;
exempt any person or class of persons from subsection (1), (1AAA) or (1A) in respect of one or more years of assessment, subject to such conditions as may be specified in the rules.
In this section —
“captive insurer” and “marine mutual insurer” have the meanings given by section 2 of the Insurance Act 1966;
“insurer” means any company licensed under the Insurance Act 1966 to carry on insurance business in Singapore.
company
“company” means any company incorporated or registered under any law in force in Singapore or elsewhere;