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HomeBusinessI-T return filings touch 5.8crore, near last year’s tally - Times of...

I-T return filings touch 5.8crore, near last year’s tally – Times of India

NEW DELHI: A last-day rush which noticed 72. 4 lakh revenue tax returns being filed on Sunday resulted in total filings for FY22 reaching 5. 83 crore, with the federal government hoping to match last yr’s degree of 5. 89 crore.
Unlike last yr, when the deadline for submitting returns for individuals who want audit certificates was the identical, this year’s quantity doesn’t embrace the whole ITR 5, 6, and seven knowledge. An official stated thus far solely round half the ITR 5,6 and seven filings have been made, in opposition to 11 lakh or so last yr.
Several taxpayers appeared to have waited until the last day to file returns, leading to a number of data being damaged,
together with 570 being filed inside a second, 9,573 inside a minute and nearly 5. 2 lakh in an hour — all between 4. 30 and seven. 45 PM on Sunday. Close to 60% of the returns had been filed throughout the last three weeks, the finance ministry stated.
“A large number of taxpa- yers did their due diligence by comparing data of their income by viewing their Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). A high rate of usage of AIS/TIS data was reflected by the fact that more than 5. 03 crore taxpayers viewed/downloaded their AIS,” the press launch stated.
Besides, this yr a big portion of the information for ITR-1 was already prefilled with wage, curiosity and dividend revenue making compliance simpler for taxpayers. Over 2. 9 crore or greater than half the returns filed until Sunday night had been ITR-1. “The department urges taxpayers, who missed the due date, to complete their filing immediately,” the CBDT stated.


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