NEW DELHI: The federal government will not be planning to increase the deadline for submitting earnings tax returns past July 31, income secretary Tarun Bajaj mentioned on Monday, when the variety of submitting was near 2. 5 crore.
Whereas a number of persons are hoping the deadline could be prolonged, Bajaj pointed to final yr when the federal government refused to increase the deadline for submitting returns for people past the December 31 deadline. The federal government had eased the date final yr within the wake of the second wave of Covid, which had affected people and companies in the course of the April-July quarter. Sometimes, there are a number of people and firms that file past the deadline, for which they need to pay a penalty.
Tax division officers mentioned that the tempo of submitting has already picked up in latest days. Some 17 lakh returns had been filed on Thursday, and the division expects the quantity to climb to 25-30 lakhs a day over the subsequent few days. Sometimes, there may be bunching of returns over the last week with a lot of filings happening on the final day.
Whereas the tax portal had confronted glitches, which was another excuse for an extension within the deadline final yr, officers mentioned that many of the issues have been sorted out now.
With the annual data assertion now accessible, tax authorities have suggested people to match the information to make sure that they don’t miss any investments or purchases.
Whereas a number of persons are hoping the deadline could be prolonged, Bajaj pointed to final yr when the federal government refused to increase the deadline for submitting returns for people past the December 31 deadline. The federal government had eased the date final yr within the wake of the second wave of Covid, which had affected people and companies in the course of the April-July quarter. Sometimes, there are a number of people and firms that file past the deadline, for which they need to pay a penalty.
Tax division officers mentioned that the tempo of submitting has already picked up in latest days. Some 17 lakh returns had been filed on Thursday, and the division expects the quantity to climb to 25-30 lakhs a day over the subsequent few days. Sometimes, there may be bunching of returns over the last week with a lot of filings happening on the final day.
Whereas the tax portal had confronted glitches, which was another excuse for an extension within the deadline final yr, officers mentioned that many of the issues have been sorted out now.
With the annual data assertion now accessible, tax authorities have suggested people to match the information to make sure that they don’t miss any investments or purchases.