ITR Submitting Deadline: The federal government shouldn’t be contemplating extending the July 31 deadline for submitting earnings tax returns. It believes that many of the returns shall be filed by the due date. Income Secretary Tarun Bajaj mentioned on Friday that until July 20, greater than 2.3 crore earnings tax returns have been filed for the monetary yr 2021-22 and this quantity is rising constantly.
It’s noteworthy that about 5.89 crore earnings tax returns had been filed for the final monetary yr 2020-21. Final yr, the federal government prolonged the deadline for submitting returns until December 31. Bajaj mentioned, folks assume that the deadline for submitting earnings tax returns will increase each time. That is why they present some slowness in submitting returns initially. However we’re getting returns between 15 lakh to 18 lakh every day. It will improve to 25 to 30 lakh returns every day.
What’s Nil ITR? What are its advantages? What must be filed by these incomes lower than 2.5 lakhs?
“Final time 9-10 per cent returns had been filed on the final day. Final yr 50 lakh returns had been filed on the final day. This time I’ve requested to be prepared for one crore return on the final date. As per earnings tax guidelines, the deadline for submitting earnings tax returns for 2021-22 is July 31 for particular person taxpayers whose accounts for the earlier monetary yr usually are not required to be ‘audited’.
The Earnings Tax Division has prescribed seven forms of earnings tax types for various classes of taxpayers on the idea of earnings. The brand new portal for submitting earnings tax returns of the tax division is powerful sufficient for final minute submission of extreme returns. Bajaj mentioned, as of now there isn’t a concept to increase the deadline for submitting earnings tax returns. He mentioned that as per the suggestions obtained from the taxpayers, submitting of return types is now very simple and refunds are additionally being obtained very quickly.
Relating to complaints relating to difficulties in submitting returns, Bajaj mentioned that 2.3 crore folks have already filed returns with none complaints. The income secretary mentioned that earlier 50,000 folks used to file earnings tax returns every day and now this quantity has elevated to twenty lakh. I’m positive the variety of returns will improve within the subsequent few days. The federal government had prolonged the deadline for submitting earnings tax returns over the past two monetary years with the goal of offering reduction to the folks throughout the corona virus epidemic.
How To File ITR On-line: By following these simple steps, it is possible for you to to file Earnings Tax Return sitting at residence, know
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