Page 7 - Income Tax Returns

Just 3 days left for filing ITR, what happens if you miss the deadline

The due date for ITR filing for the fin ancial year 2020-21 (the assessment year 2021-22) has been extended twice

Income tax returns' filing for FY21 crosses 50 mn-mark: I-T Dept

Over five crore income tax returns (ITR) for the financial year ended March 2021 have been filed so far, the I-T department said on Wednesday.

Over 48.6 mn ITRs filed for FY21 so far, nearly 1.9 mn filed on Dec 28

Over 4.86 crore Income Tax Returns for 2020-21 fiscal have been filed so far including over 18.89 lakh ITRs filed on December 28 alone, the I-T department said on Wednesday

Income Tax refunds of over Rs 1.49 trillion issued so far this fiscal

This includes 1.07 crore refunds of AY 2021-22 (fiscal ended March 31, 2021), amounting to Rs 21,021 crore

Over 46.7 mn ITRs filed for FY21 so far, 1.54 mn alone in single day

The last date for filing ITRs for 2020-21 fiscal ended March 31, 2021, by individual taxpayers is December 31

46.4 million income tax returns filed amid portal glitch complaints

The government had extended the date of filing income tax returns for AY22 to December 31, 2021, from July 31, 2021

Over 45 million income tax returns for FY21 filed till December 26

The extended deadline for filing ITRs by individual taxpayers is December 31, 2021. The original deadline was July 31, 2021

Things to remember as you rush to file your return ahead of December 31

To avoid any last-minute errors, one must remember to use the correct ITR form, collate all relevant income and expense documents for quick referral

Over 44.3 mn income tax returns filed till December 25 for 2020-21

Over 4.43 crore income tax returns (ITRs) for the 2020-21 fiscal have been filed, which includes over 1.16 mn returns filed on December 25, the I-T department said

Capital gains or rent: All income must be reported in Income Tax Return

Capital gains on switching between MF plans, notional income from vacant property, minor's income are ones taxpayers often overlook.

Over 40 mn income tax returns e-filed for FY21 so far, says I-T dept

More than 4 crore ITRs for the last fiscal have been efiled, with around 8.7 lakh returns being filed on December 21 alone, the I-T department said on Wednesday. With December 31 being the last date for filing FY'21 income tax returns (ITRs) for individual taxpayers, there has been surge in e-filing and 46.77 lakh returns were filed in the last seven days. "Over 4 crore Income Tax Returns filed! 46.77 lakh #ITRs filed in last 7 days & over 8.7 lakh #ITRs filed on 21st December, 2021," the I-T department tweeted. The department has been reminding taxpayers to file their returns for fiscal year 2020-21 (ended March 31,2021) by sending SMS and emails to those who have not filed yet. The last date of filing ITR has been extended till December 31, from July 31.

Income-tax return and types of ITR forms

The deadline for filing IT return is drawing close. Many wait till the last moment to finish the exercise, but that is not advisable. Find out the different categories of ITR forms that taxpayers fill

Infosys sets up dedicated war room as deadline for ITR filings nears

Of the e-verified ITRs, more than 23.8 million ITRs have been processed and over 909.5 million refunds for AY 2021-22 have been issued

Income tax portal: Finmin officials hold review meeting with Infosys chief

Revenue Secretary Tarun Bajaj along with senior finance ministry officials held a meeting with Infosys Managing Director Salil Parekh to review the performance of the new income tax portal.

Inadequate disclosures in income tax returns can have dire consequences

In the worst case, the taxpayer could end up paying a heavy penalty and even suffer a jail term

Over one million returns a day needed to meet December ITR deadline

This is at least 3.3x times the current pace of daily returns filed

Nearly 24 mn income tax returns filed for FY21 so far, says I-T dept

Over 2.38 crore income tax returns have been filed for 2020-21 fiscal so far, the I-T department said on Tuesday

Over 20 million I-T returns filed on new portal; many glitches rectified

Infosys has been asked to address issues linked to complex filings

Income tax refunds of Rs 80,086 cr issued during this fiscal: CBDT

This figure includes income tax refunds of Rs 19,699 crore in 47,53,254 cases and corporate tax refunds of Rs 60,387 crore in 1,63,021 cases

Taxpayers still need to pay interest despite extension of filing dates

Taxpayers may still be required to pay additional interest at the rate of 1 per cent per month despite filing the return in the extended period in case the balance tax payable exceeds Rs 1 lakh