According to a top official, the government is not considering extending the deadline for filing income tax returns because it expects most returns to be filed by the due date of July 31.
According to Revenue Secretary Tarun Bajaj, over 2.3 crore income tax returns were filed by July 20 for fiscal 2021-22, and the numbers are increasing.
Approximately 5.89 crore ITRs (Income Tax Returns) were filed by the extended due date of December 31, 2021, in the previous fiscal (2020-21).
“People thought the routine now is that dates will be extended. So they were a little slow in filling the returns initially but now on a daily basis, we are getting between 15 lakhs to 18 lakh returns. This will slightly go up to 25 lakh to 30 lakh returns,” he told PTI.
Return filers typically wait until the last day to file returns.
“Last time, 9-10% filed on the last day. We had over 50 lakh people last time (filing returns on the last date). This time, I’ve told my staff to prepare for 1 crore (returns due on the last day) “He stated.
According to I-T rules, the deadline for filing ITRs for a fiscal year by individual taxpayers who do not need their accounts audited is July 31 of the following fiscal year.
A person is required to submit ITR to the Income Tax Department of India. It contains information about the individual’s income and the taxes that must be paid on it throughout the year.
The Income Tax Department has prescribed seven different types of ITR forms, the use of which is determined by the nature and amount of income as well as the type of taxpayer.
The tax department’s new income tax filing portal has been upgraded to handle increased traffic.
“There is no intention of extending the deadline for filing,” he said.
According to Bajaj, taxpayers have reported that the return form has become very simple to complete and that refunds are being issued in a timely manner.
In response to some complaints about the difficulty of filing returns, he stated that 2.3 crore people have already filed returns with no complaints.
“Previously, 50,000 people filed returns every day; now, this number has risen to 20 lakh. I am confident that returns will increase in the coming days and that people will file their returns “He stated.
Over the last two fiscal years, the government has extended the deadline for filing ITRs in order to make compliance easier for taxpayers dealing with the covid pandemic.