Last date to file Income Tax Return will not be extended, says Finance Minister Nirmala Sitharaman

Finance Minister Union Nirmala Sitharaman today said that the last date for the submission of income tax (ITR) would not be extended. Taxpayers must note that the due date for the submission of ITR will remain December 31, 2021.

Tarun Bajaj’s income secretary on Friday said that December 31 remained an official deadline for filing a return on income tax. He said the return submitted so far more than what was submitted in the previous year.

Bajaj said that he expected another at least 20-25 lakh back to come 12 nights. “The numbers we anticipate will come … absolutely no proposal to extend the date,” said Bajaj.

For queries on the interference on the IT portal which has an impact on archiving, the Bajaj said, “I’m fine (with extensions) if the return is less by 1 crore. But the return submitted more than last year … I watch numbers every hour .. . ITR submission rose to 3 lakh (per hour) “.

So far 5.62 ITRS crore has been submitted until Friday. On Friday, 20 lakh returns were submitted. Of the total, three lakh ITR has been submitted in the past hour.

The government has extended the deadline for submitting a return on income tax for the Fiscal Year 2020-21 (ending March 2021) of five months until December 31.

Meanwhile, the taxpayer that has not verified e ITR for the 2019-20 financial year can complete the verification process on February 28, 2022, because the Income Tax Department has given a one-time assessment relaxation.

According to the law, ITR, electronically submitted without digital signatures, must be verified electronically through Aadhaar OTP, or Net Banking, or the code sent through a Demat account, a validated bank account and ATM within 120 days in 120 days in submission of return.

Or, taxpayers can send ITR physical copies submitted to the processing headquarters (BPK) centered in Bengaluru.

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