Income Tax Return Filing The Income Tax Department has urged taxpayers to file their income tax returns for the financial year 2020-21 at the earliest. According to the department, most of the difficulties being faced by the new IT portal have now been removed.
Income Tax Return Filing: The Income Tax Department has urged taxpayers to file their Income Tax Return (ITR) for the financial year 2020-21 at the earliest. The Central Board of Direct Taxes (CBDT) has informed that more than two crore ITRs have been filed so far on the new IT portal.
According to the department, most of the difficulties being faced by the new IT portal have now been removed. According to the Income Tax Department, all ITRs are now available for e-filing.
The CBDT said in a statement that during the assessment year 2021-22, more than two crore ITRs have been filed so far, in which ITR-1 and ITR-4 account for 86 percent. It is encouraging that more than 1.70 crore ITRs have been verified electronically. Out of this, 1.49 crore have been verified through Aadhar card based One Time Password (OTP).
It is noteworthy that its other methods, including e-verification from Aadhaar-OTP, are very important. It is only after this verification that the Income Tax Department releases the return amount to the eligible taxpayers in their bank accounts. Income Tax Department has told
That out of the verified ITR-1 and ITR-4, about 1.06 crore have been processed. Under this, returns have been issued in 36.22 lakh cases for the financial year 2020-21 so far. At the same time, the work of processing ITR-2 and ITR-3 will be started soon.
Let us inform that earlier the last date for filing income tax return was 30 September 2021. Which has been extended till 31st December 2021. The Central Board of Direct Taxes had decided to give additional time of three months to the income tax payers. Due to a flaw in the new income tax portal prepared by IT company Infosys, it was being speculated that the last date for filing income tax returns may be extended.
The Income Tax Department has launched a new portal and it is facing constant problems due to which it has become difficult for the taxpayers to complete the ITR filing process. This year the government has extended the due date for filing income tax returns for the second time.