Highlights:
- “Extend Due Date Immediately” trended heavily on Twitter as many people have also complained that the Income Tax portal was not functioning properly.
- According to the income tax department, more than 3.4 crore ITRs had been submitted as of July 26.
The countdown for the last date for filing Income Tax Return (ITR) is just three days away, July 31. While the Central govt. is determined that it won’t extend the ITR filing deadline of July 31 this year, a chorus on Twitter is growing in favour of doing so. On Twitter, the hashtag #Extend Due Date Immediately is trending.
On Twitter, #Extend Due Date Immediately is trending.
Even today, one Twitter user asked the finance minister to extend the due dates. The professionals are being significantly affected by decision delay.
Request to Hon'ble Finance Minister @nsitharaman to extend the due dates today itself. Delay in decision is affecting the professionals a lot. Mental disturbance with the risk of loss of customers and making mistakes while filing hasty#Extend_Due_Date_Immediately
— ?????? ????? (@ranga_basant) July 28, 2022
98 hours to go
— Gauri Chadha (@gauri_chadha) July 27, 2022
#Extend_Due_Date_Immediately
Respected @IncomeTaxIndia @nsitharaman @nsitharamanoffc @FinMinIndia, mostly our portal is not working properly. Assesses have worried about their return filing. Kindly stop sending messages and advertise the due date reminders. #Extend_Due_Date_Immediately pic.twitter.com/OYr7NkZeXr
— Jimshad P (@JimshadP2) July 28, 2022
According to the income tax department, more than 3.4 crore ITRs had been submitted as of July 26. It also recommended people to file their ITR as soon as possible if they hadn’t already.
“Over 3.4 crore ITRs filed till 26th July, 2022 & about 30 lakh ITRs filed on 26th July, 2022 itself. The due date to file ITR for AY 2022-23 is 31st July, 2022. #FileNow if not filed as yet! Avoid late fee!” the tax department tweeted.
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Over 3.4 crore ITRs filed till 26th July, 2022 & about 30 lakh ITRs filed on 26th July, 2022 itself.
— Income Tax India (@IncomeTaxIndia) July 27, 2022
The due date to file ITR for AY 2022-23 is 31st July, 2022.#FileNow if not filed as yet! Avoid late fee!
Pl visit: https://t.co/GYvO3n9wMf#ITR pic.twitter.com/0xgfgXiUqk
What the government says on a deadline extension for ITR
According to Tarun Bajaj, the revenue secretary, the government is not considering extending the deadline for filing income tax returns, according to PTI.
Benefits of filing the return before the deadline
It is always beneficial for the taxpayer to file their income tax return before the deadline.
According to Gaurav Kapoor, director and co-founder of Fincorpit Consulting, the taxpayer can avoid the penalty that would have been imposed had the return been delayed. Additionally, he can avoid the last-minute rush because the portal responds slowly and even if the taxpayer is readily filling the return, they still fail to do so and suffer penalties.
“Other advantages like quick visa application processing, loan approval earlier as well as few other perks like carry forward of losses it always on the positive note for the taxpayer,” said Gaurav Kapoor.
The benefits of filing income tax returns differ for each person, according to Abhishek Soni, CEO and co-founder of Tax2win. However, in general, an income tax return has tremendous legal value because it serves as a legal proof of your identification and income, which is crucial when applying for loans, enables you to claim deductions, carry forward losses, and helps you avoid many fines.
