For the first time in 3 years, Centre won't extend IT return deadline
The Indian government is not planning to extend the July 31 deadline for filing Income Tax return (ITR) as yet, according to a top official of the finance ministry.
The Centre is not planning to extend the July 31 deadline for filing Income Tax return (ITR) as yet, according to a top official of the finance ministry.
“So far, there is no thinking of extending the last date of filing,” Revenue Secretary Tarun Bajaj said last week.
Those whose incomes are taxable must file their returns compulsorily by July 31, failing which they will have to pay penalty or face legal consequences.
In the last two financial years, the government had extended the deadline for filing the tax return in view of the Covid-19 pandemic.
During this time, the tax department has also improved the tax return filing portal, is said to be “very robust”.
Revenue Secretary Tarun Bajaj said they have got positive feedback from taxpayers, who say that the return form has become very easy to file and that refunds are also quick.
“Last time, we had over 50 lakh (filing returns on the last date). This time, I have told my people to be ready for 1 crore (returns filed on the last day),” Bajaj said.
In the last fiscal year 2020-21 (FY21), around 5.89 crore ITRs were filed by the extended due date of December 31, 2021.