Income Tax Dept updates Over 4 crores ITR Filing Till Date

Income- Tax-Dept -updates- ITR -Filing- Till -Date-taxscan

The Income Tax Department has updated that over 4 crores Income Tax Returns are filed till date. The due date to file the return is 31st July 2023. However there is no hint given from the government regarding the extension of the same.

Last year, the due date was extended till 30th September 2022 for ITR filing of individuals, HUF/ AOP/BOI (books of accounts not to be audited) from 31st July 2022.

The Technical issues with the Income Tax portal are cited as the main cause of the ITR filing delay. Through Twitter and other sources, the tax experts have voiced their complaints about the technical issues. In addition to the technological concerns, the unusual problems like the flood in Delhi and other major cities are badly influencing this.

Last time, when the overall filing was over 3 crores, 1.5crores ITRs were processed. The department mentioned that “Among the 3.06 crore Income Tax Returns (ITRs) filed until July 18, 2023, a significant portion of 2.81 crore ITRs have been e-verified, amounting to over 91% of the total filings. And out of the e-verified, 1.50 crores ITRs have been processed.”

The Sales Tax Bar Association has represented to the Finance Ministry to prolong the deadline for filing Income Tax Returns.

Also Read: ITR Due Date: Sales Tax Bar Association Requests to Extend Due Date up to 31st Aug 2023

Why you Should File ITR Before the Deadline

  1. To Avoid the Penalty for Delayed ITR Filing
  2. To Carry Forward and Set Off Eligible Losses
  3. To Claim Tax Deductions
  4. To Obtain Income Tax Refunds
  5. To Make Other Processes Easier

Also read: Karnataka State Chartered Accountants Association writes to CBDT on Glitches in E-Proceedings Tab of Income Tax portal

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