Income Tax Return Filing 2022 Last Date Extension: With just a few days left before the end of the last date for Income tax Return filing, several social media users have urged the Income Tax Department to extend the due date beyond July 31, 2022.
The number of Income Tax Returns for AY 2022-2023 filed till 25th July 2022 was over 3 crore. Till 24th July, the total tax filed was 2.85 crore. Last year the number of ITRs filed till July 31 was 5.89 crore. Supposing the same number of returns has to be filed this year, around 2.8 crores ITRs are yet to be filed. This means that starting from today till July 31, around 48 lakh ITRs will have to be filed per day.
If the new Income Tax website fails to take this much of the load till the due date, the Government have to extend the due date by a few more days this year as well, according to experts. If this doesn’t happen then many taxpayers will end up with penalties for late filing.
“Government has just published data of filings. The total number of filings of income tax returns (ITRs) till 24th July is 2.85 cr. Last year the total number of filings of ITRs till the due date i.e. 31st December, was 5.89 cr. From 25th July till 31st July, the total number of 3 crore plus filings of ITR has to be done yet. This will need per day filings of 45 Lakh. If this much pace in filing is not achieved, the government may come with a short extension of the due date,” Sujit Bangar, Founder of Taxbuddy.com, told FE PF Desk.
ITR filing 2022: Don’t have Form 16? Know how to file Income Tax returns without it
The last date to file ITR for FY 2021-22 (AY 2022-23) is 31st July. Tax experts say that one should always file ITRs early as helps save the last-minute hassle and enables one to get Income Tax Refund early. You can file free ITR online on the official website.