NEW DELHI: The federal government just isn’t contemplating extending the final date for submitting revenue tax returns because it expects most returns to return in by the due date of July 31, a prime official mentioned on Friday. Income secretary Tarun Bajaj mentioned over 2.3 crore revenue returns had been filed by July 20 for fiscal 2021-22 and the numbers are choosing up.
Final fiscal (2020-21), about 5.89 crore ITRs (Revenue Tax Returns) had been filed by the prolonged due date of December 31, 2021.
“Individuals thought the routine now’s that dates will probably be prolonged. So that they had been a little bit sluggish in filling the returns initially however now each day, we’re getting between 15 lakhs to 18 lakh returns. This may barely go as much as 25 lakh to 30 lakh returns,” he instructed PTI.
Sometimes, return filers wait until the final day to file returns.
“Final time 9-10 per cent filed on final day. Final time, we had over 50 lakh (submitting returns on the final date). This time, I’ve instructed my folks to be prepared for 1 crore (returns being filed on the final day),” he mentioned.
As per I-T guidelines, the deadline for submitting ITRs of a fiscal by particular person taxpayers who don’t must get their accounts audited is July 31 of the following monetary yr.
Via ITR, an individual is meant to undergo the Revenue Tax Division of India. It accommodates details about the particular person’s revenue and the taxes to be paid on it through the yr.
The Revenue Tax Division has prescribed 7 kinds of ITR varieties, whose applicability will rely on the character and quantity of revenue and the kind of taxpayer.
The tax division’s new revenue tax submitting portal is now very strong to take the elevated masses.
“Thus far, there is no such thing as a pondering of extending the final date of submitting,” he mentioned.
Bajaj mentioned the suggestions being acquired from taxpayers is that the return type has turn out to be very straightforward to file and that refunds are additionally being made in a really fast time.
On some complaining about problem in submitting returns, he mentioned 2.3 crore folks have already filed returns with none complaints.
“Beforehand 50,000 folks had been submitting returns day by day and now this quantity has gone as much as 20 lakh. I’m assured that returns will go up within the subsequent few days and other people will file their returns,” he mentioned.
Over the past two monetary years, the federal government had prolonged the deadline for submitting ITRs to ease compliance for taxpayers battling covid pandemic.
Final fiscal (2020-21), about 5.89 crore ITRs (Revenue Tax Returns) had been filed by the prolonged due date of December 31, 2021.
“Individuals thought the routine now’s that dates will probably be prolonged. So that they had been a little bit sluggish in filling the returns initially however now each day, we’re getting between 15 lakhs to 18 lakh returns. This may barely go as much as 25 lakh to 30 lakh returns,” he instructed PTI.
Sometimes, return filers wait until the final day to file returns.
“Final time 9-10 per cent filed on final day. Final time, we had over 50 lakh (submitting returns on the final date). This time, I’ve instructed my folks to be prepared for 1 crore (returns being filed on the final day),” he mentioned.
As per I-T guidelines, the deadline for submitting ITRs of a fiscal by particular person taxpayers who don’t must get their accounts audited is July 31 of the following monetary yr.
Via ITR, an individual is meant to undergo the Revenue Tax Division of India. It accommodates details about the particular person’s revenue and the taxes to be paid on it through the yr.
The Revenue Tax Division has prescribed 7 kinds of ITR varieties, whose applicability will rely on the character and quantity of revenue and the kind of taxpayer.
The tax division’s new revenue tax submitting portal is now very strong to take the elevated masses.
“Thus far, there is no such thing as a pondering of extending the final date of submitting,” he mentioned.
Bajaj mentioned the suggestions being acquired from taxpayers is that the return type has turn out to be very straightforward to file and that refunds are additionally being made in a really fast time.
On some complaining about problem in submitting returns, he mentioned 2.3 crore folks have already filed returns with none complaints.
“Beforehand 50,000 folks had been submitting returns day by day and now this quantity has gone as much as 20 lakh. I’m assured that returns will go up within the subsequent few days and other people will file their returns,” he mentioned.
Over the past two monetary years, the federal government had prolonged the deadline for submitting ITRs to ease compliance for taxpayers battling covid pandemic.