Revenue Secretary Tarun Bajaj said over 2.3 crore income returns were filed by July 20 for fiscal 2021-22 and the numbers are picking up
Revenue Secretary Tarun Bajaj on Friday said that the Central Government is not considering extending the last date for filing income tax returns as it expects most returns to come in by the due date of 31 July.
The top government official said more than 2.3 crore income returns were filed by 20 July for the financial year 2021-22 and the numbers are picking up.
During the last fiscal (2020-21), as many as 5.89 crore ITRs (Income Tax Returns) were filed by the extended due date of 31 December, 2021.
Speaking to new agency PTI, Bajaj said, “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.”
Typically, return filers wait till the last day to file returns.
“Last time 9-10 per cent filed on last day. Last time, we had over 50 lakh (filing returns on the last date). This time, I have told my people to be ready for 1 crore (returns being filed on the last day),” he added.
According to the I-T rules, the deadline for filing ITRs of a financial year by individual taxpayers who do not need to get their accounts audited is 31 July of the subsequent fiscal.
Through ITR, an individual is supposed to submit to the Income Tax Department of India. It includes details about the person’s income and the taxes to be paid on it during the year.
The Income Tax Department has prescribed 7 types of ITR forms, whose applicability will depend on the nature and amount of income and the type of taxpayer.
The tax department’s new income tax filing portal is now very robust to take the increased loads.
“So far, there is no thinking of extending the last date of filing,” he said.
Bajaj said the feedback being received from taxpayers is that the return form has become very easy to file and that refunds are also being made in a very quick time.
On some complaining about difficulty in filing returns, he said 2.3 crore people have already filed returns without any complaints.
“Previously 50,000 people were filing returns daily and now this number has gone up to 20 lakh. I am confident that returns will go up in the next few days and people will file their returns,” he told PTI.
During the last two fiscal, the Centre had extended the deadline for filing ITRs to ease compliance for taxpayers battling the ongoing coronavirus pandemic.
How to file your ITR through the e-filing portal
– Visit the e-filing website, https://www.incometax.gov.in/iec/foportal.
– Log in to your account if you have already registered or create a new registration by providing the required personal and communication details.
– After you are logged in to the portal, click on the “e-file” tab and then on “File Income Tax Return.”
– Select the Assessment year and click on “Continue.”
– Submit your choice whether you wish to file your returns online or offline.
– Click on “Individual” in the status applicable to your filing and then choose the income tax returns (ITR) you wish to file. Most salaried individuals file their returns with ITR -1 form.
– Then you will be asked to specify the reason for filing ITR among the available options. Submit your choice and move to the next step to provide your bank details or validate them.
– Declaration tab – Once the taxpayer fills all details in the ITR-1 form, they are required to fill in requisite information in the declarations verifying that all details provided in return are correct and complete.
– Verify the submitted details to avoid any error and click on “Proceed to Validate.”
– Once the income tax return is filed, taxpayers will get an SMS/ email intimation verifying the ITR filing.