Deadline nears, over 3 crore ITRs filed thus far: virtually half of whole from final fiscal 12 months

Over 3 crore revenue tax returns have been filed thus far on the brand new e-filing portal for evaluation 12 months 2021-22 (monetary 12 months 2020-21). The Income Tax Department in an announcement issued on Sunday urged taxpayers who’re but to file their revenue tax returns for AY 2021-22 on the earliest.
To put the numbers in perspective, the entire variety of revenue tax returns filed in monetary 12 months 2020-21 have been 7.38 crore, as per authorities knowledge. In 2019-20, 6.78 crore revenue tax returns have been filed together with revised returns, whereas in 2018-19, 6.74 crore ITRs have been filed.
As of December 3, ITR submitting has elevated to three.03 crore ITRs for AY 2021-22. Over 52% of those ITRs are filed utilizing the net ITR type on the portal, the tax division stated.
As many as 2.69 crore returns have been e-verified, of which greater than 2.28 crore are by means of Aadhaar primarily based OTP. In November, 48 per cent of the verified ITRs 1, 2 and 4 have been processed on the identical day. Of the verified ITRs greater than 2.11 crore ITRs have been processed and over 82.80 lakh refunds for AY22 have been issued.
The Income Tax Department has urged all taxpayers to view their Form 26AS and Annual Information Statement (AIS) by means of the e-filing portal to confirm the accuracy of the TDS and tax funds. “It is important for taxpayers to cross check the data in the AIS statement with their Bank passbook, interest certificate, Form 16 and Capital gains statement from brokerages in case of purchase and sale of equity/Mutual funds etc,” it stated.

The authorities has prolonged the due date for submitting ITRs for 2020-21 fiscal twice. The due date for ITRs for people whose accounts are to not be audited was prolonged to December 31 from September 30, whereas that for corporations was prolonged to February 15, 2022 from the sooner prolonged deadline of November 30.
The new revenue tax portal, http://www.incometax.gov.in, which was launched on June 7, has confronted glitches since its launch. The Finance Ministry had on August 23 “summoned” Infosys CEO Salil Parekh to elucidate the problems leading to disruption of the portal developed by the software program main. In the assembly with Parekh on August 23, Finance Minister Nirmala Sitharaman had expressed “deep disappointment” over persisting glitches for greater than two months after portal launch and was given a deadline of September 15 to Infosys to resolve the problems. In October, the revenue tax division had said that a lot of technical points within the new revenue tax portal have been resolved and the efficiency of the portal has considerably stabilised.