A top official said on Friday that the government is not looking at extending the last date for filing income tax returns as it expects most of the returns by the due date of July 31. Revenue Secretary Tarun Bajaj said over 2.3 crore income returns were filed for the financial year 2021-22 till July 20 and the number is increasing.
Around 5.89 crore ITRs (Income Tax Returns) were filed in the last financial year (2020-21) till the extended due date of December 31, 2021. “People thought that the routine now is that the dates will be extended. So they were a little slow. Initially, we were filing returns but now we are getting 15 lakh to 18 lakh returns daily. It is a little bit from 25 lakh to 30 lakh returns. Will be done.”
Usually, return filers wait till the last day to file returns. “Last time 9-10 per cent was filed on the last day. Last time, we had more than 50 lakhs (filing returns on the last date). This time, I have asked my people to be ready for 1 crore (The return is being filed on the last day),” he said. As per IT rules, the deadline for filing ITR for one financial year by individual taxpayers who are not required to get their accounts audited is July 31 of the next financial year.
Through ITR, a person has to submit to the Income Tax Department of India. It contains information about the income of the individual during the year and the taxes to be paid on it. The Income Tax Department has prescribed 7 types of ITR forms, the applicability of which will depend on the nature and amount of income and the type of taxpayer. The new income tax filing portal of the tax department is now very strong to bear the increased burden.
“As of now, there is no thought of extending the last date of filing,” he added. Bajaj said that the feedback received from taxpayers is that filing of return forms has become very easy and refunds are also being done in a very short time. On complaints of difficulty in filing returns by some people, he said that 2.3 crore people have already filed returns without any complaints.
“Earlier 50,000 people were filing returns daily and now the number has gone up to 20 lakh. I am sure returns will increase in the next few days and people will file their returns,” he said. In the last two financial years, the government had extended the ITR filing deadline to ease compliance for taxpayers battling the Covid pandemic.
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