January 29, 2023

Consultant picture

Greater than 37.3 million earnings tax returns (ITRs) have been filed thus far this evaluation yr (2022-23) because the July 31 deadline for submitting of returns approaches, in response to the tax division.

The official e-filing portal (www.incometax.gov.in) had recorded the submission of 37,341,425 returns till July 27, 2022. Greater than 34 million ITRs had been filed till July 26, which implies 3.3 million returns have been filed in a single day on July 27, as many taxpayers rushed to finish the annual train.

Additionally hear: Why you should file your earnings tax returns by July 31

The push to file tax returns

July 31 is the final date for submitting earnings tax returns for the monetary yr 2021-22 (evaluation yr 2022-23). Whereas taxpayers can file belated returns till December 31, 2022, they should shell out a late price of Rs 5,000, moreover shedding out on sure advantages. 

Out of the 37.3 million returns filed thus far, 29.3 million have been verified and 21.8 million verified ITRs processed by the earnings tax division.

Final yr (AY 2021-22), the due date was prolonged to December 31, 2021 due to the impression of COVID-19 and glitches within the newly launched earnings tax return e-filing portal. Till December 29, 2021, over 50 million returns for the evaluation yr 2021-22 had been filed, in response to the I-T division.

Additionally learn: Moneycontrol’s earnings tax return-filing information 

Portal glitches, kind delays mar return-filing course of

Delays in downloading Type-16, an announcement containing particulars of earnings and tax deducted at supply, amongst different issues, and technical glitches on the portal have prompted calls for by chartered accountant associations to increase the July 31 deadline.

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“When the Type 26AS is downloaded, we’re unable to obtain the Annual Info Assertion,” mentioned Mumbai-based chartered accountant Mehul Sheth.

On June 2, 2022, the earnings tax division had tweeted about glitches on the portal.

“It has been observed that taxpayers are going through points in accessing ITD e-filing portal (https://www.incometax.gov.in/). As knowledgeable by @Infosys, they’ve noticed some irregular visitors on the portal for which proactive measures are being taken. Some customers could also be inconvenienced, which is regretted,” the tweet mentioned.

Customers have additionally confronted a problem in downloading tax credit score and annual data statements.

“Moreover, a number of the mutual funds and bankers have been updating their tax withholding returns until July and therefore the shape 26AS/AIS (annual data assertion) additionally will get up to date. Therefore, the taxpayers have to have these reconciled with their very own particulars (leading to delays),” mentioned Aarti Raote, a companion at Deloitte India.

Chartered accountants in a bind

Then, there are different niggling issues.

“We’re unable to connect digital signatures. This is a matter as some returns mandatorily want digital signatures. Including a authorized inheritor for submitting returns of deceased, too, is time-consuming and we haven’t been capable of file the returns for them,” mentioned Paras Savla, a companion at KPB & Associates, a chartered accountancy.

Some taxpayers and chartered accountants have been unable to finish the e-verification course of.

“After returns are filed, there is a matter of digital verification code (EVC) not being acquired promptly, which ends up in delay in finishing this ultimate step,” mentioned Ameet Patel, Associate, Manohar Chowdhry & Associates, a chartered accountancy.

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The tax division has not hinted at any risk of a deadline extension thus far. Income secretary Tarun Bajaj on July 22 mentioned the federal government was not planning to increase the final date for ITR submitting.