Central Government Categorical: No prospects to extend the deadline for filing Income Tax Returns!
Posted on: 22/Jul/2022 5:30:01 PM
The Central Government has categorically announced that there are no prospects for extending the deadline set for filing Income Tax Returns.
31st July is the last date for filing the Income Tax Returns for the financial year 2021-22.
During the last 2 years, the impact of the raging coronavirus spread and the associated lockdown conditions necessitated an extension of the deadline for filing Income Tax Returns until 31st December!
Traditionally, 31st July is invariably set as the last day for filing the Income Tax Returns for the previous year! As such, this year also, for filing Income Tax Returns for the financial year 2021-22, 31st July is the last date!
Certain documents are essential to file Income Returns properly!
In this regard, the Secretary of the Central Revenue Department, Tarun Bajaj, shared:
"There are no prospects to extend the deadline for filing Income Tax Returns for the Financial Year 2021-22! There are no reviews about it! As such, it is expected that most of the details of the Income Tax returns would be available well before 31st July!
For the Financial Year 2021-22, so far, 2.3 Crores Income Tax Returns have been filed before 20th July! The number of Filing Returns has been increasing further after 20th July!
For the previous Financial Year 2020-21, when 31st December was set as the deadline (due to the coronavirus pandemic and the lockdown conditions), around 589 Crores IT Returns were filed!
The public feels that an extension of the deadline is a usual affair! Hence, they delayed the retiring of files in the initial stages! However, now, daily, 15 to 18 lakhs of IT files are returned each day!
In the coming days, this is expected to increase even further, up to 15 Lakhs returns per day! Generally, the Tax Payers tend to wait until the last date to do this main requirement of filing Income Tax returns!
Last time, around 9-10& tax-payers filed their Income Tax returns on the last day! There were more than 50 Lakh Income Tax Returns filed on the last day!
This year, this may even rise to 1 Crore Income Tax Filing returns on the last day and as such, we are prepared for it!"
