Didn’t file an RTI by the due date? Keep this deadline in mind

Latest ITR filing date: The Income Tax Department has not extended the deadline for filing income tax returns, or ITRs, for taxpayers nationwide. The due date for filing the ITR was last week, which has passed. Taxpayers can still file their ITRs if they missed the date for any reason, through a process called “Late ITRs”. However, they must pay a penalty if they wish to file an ITR late in accordance with the provisions of the government’s finance law. Last year, the Center extended the September deadline for filing tax returns due to technical issues in the online portal.

The Income Tax Department, however, did not extend its December 31 deadline, saying it had not received any requests to do so and that all work was going smoothly. On the same day, during a press briefing of the GST Council meeting chaired by Finance Minister Nirmala Sitharaman, Revenue Secretary Tarun Bajaj confirmed that there was absolutely no chance of extending the date of ITR filing deadline.

“There is no proposal to extend the filing date for the tax return. The filing of the tax return goes smoothly. As of 3 p.m. today, 5.62 crores of returns have been filed in total. Today, more than 20 lakh declarations have been filed. This year, 60 lakh more returns have been filed,” Bajaj had told reporters at the press conference, ruling out any possibility of extending the deadline.

However, according to government rule under the finance law, taxpayers can file tax returns after the due date. This means taxpayers have until March 2022 to file their ITRs. As per the provisions, this will result in a penalty of Rs 5,000 for taxpayers whose total income is Rs 5 lakh and above. For taxpayers whose total income is less than Rs 5 lakh, the amount of the fine is Rs 1,000 while those who are exempt from income tax do not have to pay any penalty.

Those who have already filed their tax return can also file a revised return if there was a deficiency in the filing of the original tax return. The last date to do so is also March 31, 2022.

Nearly 5.89 million tax returns for the 2020-21 fiscal year (ending March 2021) have been filed on the new e-filing portal by the Dec. 31 deadline, the IT department said Saturday. Of these, more than 46.11 lakh ITR have been deposited as of the latest date or December 31 alone.

“Almost 5.89 crore tax returns (ITRs) have been filed on the Department of Income Tax’s new e-filing portal as of December 31, 2021, the extended due date,” the Central Board said. direct taxes (CBDT) in a declaration. In comparison, as of January 10, 2021 (the extended ITR maturity date for AY 2020-21), the total number of ITRs deposited was 5.95 crore. No less than 31.05 lakh ITR were deposited on the last day or 10th January 2021.

Out of 5.89 crore ITR deposited for AY 2021-22 (FY 2020-21), 49.6% of them are ITR1 (2.92 crore), 9.3% are ITR2 (54.8 lakh), 12 .1% are ITR3 (71.05 lakh), 27.2% are ITR4 (1.60 crore), 1.3% are ITR5 (7.66 lakh). Also, 2.58 lakh ITR-6 and 0.67 lakh ITR7 were deposited. “Over 45.7% of these ITRs were deposited using the online ITR form on the portal and the balance was uploaded using the ITR created from the offline software utilities,” said he said, adding that he would work tirelessly to ensure smooth and stable operation. taxpayer service experience.

(With PTI inputs)

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