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To Begin With
The hashtag #Extend Due Date Immediately began trending on Twitter hours after the Centre stated that the authorities are not considering extending the deadline for filing income tax returns. Netizens were calling for an immediate extension of the deadline. Many people asked Nirmala Sitharaman, the finance minister, to extend the due date on Twitter. It is not possible to file an ITR by the present due date of July 31, honourable FM @nsitharaman ji. Please extend the #ITRduedate deadline to August 31,” a Twitter user pleaded.
Tax-payer Battling in Pandemic
The Income Tax Department stated on Monday that the deadline to submit an ITR for the AY 2022–23 is July 31, 2022, via Twitter. It is important to remember that, during the previous two fiscal years, the government had delayed the ITR filing deadline in order to make compliance easier for taxpayers affected by the avian flu pandemic. The Income Tax Portal reports that there are 10,36,43,750 Individual Registered Users, 2,47,87,417 returns have been filed for the fiscal year 2022–2023, and 2,04,80,589 returns have been confirmed. As many as 1,53,31,732 ITRs were processed for the assessment year 2022-2023, according to the statement (as on July 22, 2022).
Some Compelling Reactions on Twitter
99 percent of CAs that oppose extending ITR filing deadlines are either not in the tax industry or have not submitted a single ITR.
-By CA Siddahtha Singhani
The reason why I was unable to prevalidate my bank account. I started this morning.
-By Krishna Reddy
On the e-Filing platform, more than 3 crore ITRs for the tax year 2022–23 had been submitted as of July 25, 2022.
ITR submissions for AY 2022–23 must be made by July 31st, 2022.
If your ITR hasn’t been submitted yet, we strongly advise that you do so immediately. #FileNow!
Please go to: incometax.gov.in
– By Income Tax India
Please send an email to email@example.com with your contact information (including your PAN & mobile number). Contact from our staff will be made with you.
-By FCA Nihalchand J Jain
IT returns will be tough to file by July 31, 2022. Please extend the deadline until August 31, 2022. After taking into account AIS, TIS, 26AS, bank statements, and our IT portal’s variety of faults, it will take some time to prepare & file ITR.
— PRASHANTH M, July 25, 2022 (@PrashanthMlv).
Income tax portal not working Please extend date.
-By Adv Neelesh Kushwaha
AIS TIS 26 AS GST TURNOVER itne sabko reconcile karne me time lagta hai maam please extend due dates
Facts As Per Income Tax Department
According to income tax regulations, individuals who do not need to have their accounts audited have until July 31 of the following fiscal year to file their income tax returns (ITRs). A person must pay any unpaid taxes to the Income Tax Department of India via ITR, and they may also submit requests for any legitimate refunds. A typical ITR will include a person’s income and the taxes that must be paid on it during the year. Depending on the type of taxpayer, the type of income, and the quantity of income, the Income Tax Department may apply one of seven different ITR form types. You can access the new, very reliable income tax filing portal of the tax department at https://eportal.incometax.gov.in/iec/foservices/#/login.
The Final Take
By July 20 for the fiscal year 2021–2022, more than 2.3 crore income reports have been filed, according to Revenue Secretary Tarun Bajaj, and the number is increasing. By the extended due date of December 31, 2021, around 5.89 crore ITRs (Income Tax Returns) from the previous fiscal year (2020–21) were submitted.
“People believed that dates will be extended as was the custom presently. They were first a little slow to fill out the returns, but now we receive between 15 lakh and 18 lakh returns daily. According to him, this will marginally increase to 25 to 30 lakh returns.
Usually, people who file returns wait until the very last minute.
“Last time, 9–10% filed on the final day. Previously, we had more than 50 lakh (filing returns on the last date). This time, I’ve instructed my staff to prepare for 1 crore returns to be submitted on the last day, he said.