New Delhi: Revenue Secretary Tarun Bajaj on Friday (December 31) announced that 5.62 crore Income Tax Returns (ITRs) have been filed by taxpayers for the assessment year 2020-21 so far.
“Till 3 pm today, a total of 5.62 crore returns have been filed. More than 20 lakh returns were filed today. Bajaj said 60 lakh more returns have been filed this year.
Bajaj also said that filing of income tax returns is going smoothly so far, allaying concerns regarding the malfunctioning of the income tax portal developed by IT major Infosys.
The last date for filing income tax returns for the financial year 2011 is December 31. Taxpayers who have missed the deadline will have to pay a penalty for filing income tax returns anytime after December 31.
The Income Tax Department had twice extended the deadline for filing ITR, first from July 31 to September 30, 2021 and then from September 30 to December 31, 2021, due to problems faced by taxpayers due to the pandemic. Read also: Last trading day of 2021: Sensex up over 450 points, Nifty up 150 points
If a taxpayer misses the deadline for filing income tax return, a maximum penalty of Rs 10,000 was levied till the previous year. However, from FY 2011 onwards, the authorities have reduced the fine to Rs 5000. Read also: Who is the founder of bitcoin? Elon Musk Believes This Computer Genius Is Behind Cryptocurrency
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