Taxpayers should be aware that the deadline to file income tax returns for FY 2022-23 (AY 2023-24) is just somedays away, and there are currently no indications of any further deadline extensions beyond July 31, 2023.
The income tax department is actively urging people via SMS and email to submit their returns on time to avoid any last-minute hassles.
Revenue Secretary Sanjay Malhotra has expressed optimism about higher filing rates this year compared to the previous year. As of July 19, 2023, over 3 crore ITRs have already been filed, surpassing the total number of filings made by the same day last year. Out of the 3.06 crore ITRs filed as of July 18, 2023, an impressive 2.81 crore ITRs have been e-verified, accounting for more than 91% of all submissions.
The income tax department has processed more than 150 crore ITRs from the e-verified ITRs, indicating a swift and efficient processing procedure to ensure timely evaluation of taxpayers’ returns.
But many Taxpayers and professionals are requesting to Income Tax Department to change the Due date of ITR permanently to 31 August, because of below reasons:
- Every year ITR forms released very late, This year ITR forms released too late as compared to last year
- AIS Updated again & again
- TDS and TCS deductor file returns in the month of May and issue Form 16/16A after 15th June
- In the month of July there are various other Quarterly compliances to complete, like TDS returns, GST Returns, Company forms etc. so professionals felt overburdened in July
- Other Reasons like Portal Glitches
- Many more reasons may be there
But Taxpayers and professional can only request to government to increase the last date, but not sure government extend this date or not as last year (AY 2022-23) also date was not extended.
Taxpayers who have not yet submitted their returns can do so by visiting the Income Tax Department’s e-filing site to begin and complete the tax-filing procedure.
you can take help of below video to file your ITR’s yourself:
As the deadline approaches, taxpayers are advised to gather their financial records and file their ITRs promptly to meet the government’s deadline and avoid any potential complications or penalties. Electronic verification is gaining popularity among taxpayers due to its simplicity and convenience, making the tax-filing process smoother.
Overall, it is crucial for taxpayers to act quickly and fulfill their tax responsibilities within the allotted time window to ensure a smooth and hassle-free filing process.
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