Income tax deadline: 'Extend due date immediately' trends on Twitter
What's the story
Taxpayers have voiced a number of concerns over the income tax portal as the Income Tax Return (ITR) filing deadline approaches and have demanded an extension of the deadline. However, the government has no intention of extending the deadline of July 31, which is only four days away. As per the official portal, just 40% of ITRs have been submitted as of July 27.
Context
Why does this story matter?
With only four days until the deadline, the Twitter hashtag "#extendduedate immediately" was trending, indicating a flood of requests for an emergency extension. Taxpayers must file their ITR for the fiscal years 2021-22 online prior to the deadline in order to avoid fines, penalties, and legal repercussions. However, many users are reporting technical issues with the e-filing website.
Quote
There's no thinking of extending the last date: revenue secretary
Union Revenue Secretary Tarun Bajaj has stated unequivocally that the government has no plans to extend the deadline. "So far, there's no thinking of extending the last date of filing," Bajaj reportedly stated. "Last time, we had over 50 lakh (ITR filing on the last date). This time, I've told my people to be ready for 1 crore (last date's ITR filing)," he added.
Fact
AIFTP demands extension of ITR deadline
The statement comes only days after the All India Federation of Tax Practitioners (AIFTPs), a group of advocates, chartered accountants, and tax practitioners, requested an extension from the Ministry of Finance and the Central Board of Direct Taxes (CBDT). While some have mentioned the time-consuming procedure of completing returns, others have mentioned faults in the official system, such as problems downloading essential forms.
Reports
Taxpayers complain about technical glitches on the portal
Meanwhile, salaried professionals who attempted to file their returns recently tweeted pictures of the portal, stating that it's "on maintenance." Some are unable to get 26AS because the loading sites have crashed. "[The portal] is totally down. Not able to work on it. Heavy traffic should be understood by income tax," stated a chartered accountant on Twitter. "Tax Portal Dead!" said another Twitter user.
ITR
What will happen in the case of not filing ITR?
According to IT rules, failure to submit the ITR by the due date may lead to a Rs 10,000 fine and some other penalties. Section 234A of the Income Tax Act (1961) states that any delay after July 31 will result in a 1% penalty on the tax owed. If the tax is paid after the 5th, the entire month's interest must be paid.
Current status
More than 3 crore ITRs filed
"The total number of returns filed till 27/07/22 was 3.73 crore, whereas the total returns filed last year till 27/12/21 was 4.67 crore. This is a huge difference and a justified reason for the extension," stated a Twitter user. Meanwhile, until July 25, the Income Tax authority reported that more than three crore ITRs for 2022-23 have been submitted via the e-filing system.