ITR filing increased to 3.2 lakh daily in September, 2021

ITR filing increased to 3.2 lakh daily in September, 2021

Updates to the Income Tax Department’s e-Filing portal

The Income Tax Department’s e-Filing site (www.incometax.gov.in) was introduced on June 7, 2021. Since then, taxpayers and professionals have experienced flaws and problems with the service. The Ministry of Finance has been keeping a close eye on how concerns with Infosys Ltd, the project’s Managed Services Provider, are being resolved.

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A number of technical issues are being addressed one by one, and the statistics for the various filings on the portal are showing a favourable trend. Since September 7, 2021, over 8.83 crore unique taxpayers have signed in, with a daily average of over 15.55 lakh in September 2021. In September 2021, the number of ITRs filed grew to 3.2 lakh per day, with 1.19 crore ITRs filed for the fiscal year 2021-22. Over 76.2 lakh taxpayers have used the portal’s online service to file their forms.

It’s good to see that over 94.88 lakh ITRs have been e-verified, which is required for the Centralized Processing Center to process them. 7.07 lakh ITRs have been processed so far.

Over 8.74 lakh Notices issued by the Department under the Faceless Assessment/Appeal/Penalty proceedings have been viewed by taxpayers, with over 2.61 lakh answers filed. On a daily basis in September 2021, an average of 8,285 Notices for e-proceedings were issued and 5,889 answers were filed.

Over 10.60 lakh statutory forms have been filed, including 7.86 lakh TDS statements, 1.03 lakh Form 10A for trusts/institutions registration, 0.87 lakh Form 10E for salary arrears, and 0.10 lakh Form 35 for appeals.

Applicability of Tax Audit under section 44AB or 44AD or 44ADA

66.44 lakh taxpayers have linked their Aadhaar numbers to their PAN numbers, and over 14.59 lakh e-PANs have been issued. In September 2021, around 0.50 lakh taxpayers were using these two services on a daily basis.

The Department is continuing to work with Infosys to ensure that taxpayers have a positive filing experience.

Representation for extending dates for furnishing belated/Revised Returns

Representation for extending dates for furnishing belated/Revised Returns

For filing a belated income tax return u/s 139(4) for the fiscal year 2019-20 (which was originally 31st March 2021 but was extended to 31st May 2021)

For the purpose of filing a Revised Return of Income Tax u/s 139(5) for the fiscal year 2019-20 (which was originally 31st March 2021 but was extended to 31st May 2021)

2. However, owing to the Corona pandemic, many taxpayers were unable to file their ITR for FY 2019-20 (First Year 2020-21) by May 31, 2021, despite their best efforts. The provision of such ITRs will aid in increased revenue collection, and taxpayers will be able to maintain regularity by ensuring that their returns are filed on a consistent basis.

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3. The CBDT has granted Corona patients the benefit of exemption for amounts received beginning in FY 2019-20 and ending on June 25, 2021, but the deadline for filing ITR/ Revised ITR has passed, and it is necessary to allow them to file their Return/ Revised ITR for AY 2020-21 so that they can benefit from the exemption.

Section 206AB introduces a higher levy of TDS on tax defaulters from 01st July 2021

4. Facility for filing ITR in response to Notice under Sec. 148: Please provide a facility on the new Income Tax Portal for filing Belated/ Revised ITRs as well as ITR in response to Notice under Sec. 148 for assessment years 2020-21 and earlier, as per amended provisions regarding the reopening of assessments with effect from April 1, 2021.

E-filing of ITRs increased by 9% in FY20, with 7.38 crore returns submitted by March 31.

According to the most recent tax numbers, there are over 10 crore registered users, with 7.38 crore filing tax returns online in FY21. E-filing of Income Tax Returns (ITRs) increased by 9% in FY21 compared to FY20, with 7.38 crore returns filed through March 31, compared to 6.77 crores in FY20 and 6.68 crores in FY19.

About five crore people with an annual income of less than or equivalent to $5 lakh filed their tax returns. Around 81,653 individuals with an annual income of more than Rs 1 crore, as well as 44,752 businesses, 836 trusts, 16,420 firms, and 62 local governments, filed returns.

The CBDT extends the deadline for depositing TDS and filing late tax returns.

Maharashtra topped the list, with 1.14 crore ITRs filed via the tax department’s e-filing scheme. Gujarat had 74.50 lakh e-returns, Uttar Pradesh had 71.47 lakh, Rajasthan had 48.29 lakh, Tamil Nadu had 46.15 lakh, Karnataka had 43.15 lakh, and Delhi had 38.20 lakh e-returns.

According to tax statistics, there was a 1.72 per cent increase in filing growth in AY 20-21, with 6.83 crores ITRs filed compared to 6.72 crores in AY 19-20.