Last Date Extension Happen

Last Date Extension Happen: ITR Filing Last Date 2022: As the Income Tax Return (ITR) Filing Last Date for AY 2022-2023 comes close, tax professionals and several other taxpayers have been urging the Government to extend the due date

ITR Filing Last Date 2022: As the Income Tax Return (ITR) Filing Last Date for AY 2022-2023 comes close, tax professionals and several other taxpayers have been urging the Government to extend the due date using “#Extend_Due_Date_Immediately” on Twitter for the last many days. Till now, more than 25,000 tweets with this hashtag have been posted on the social media platform.

The last date to file ITR for salaried individuals and HUFs whose accounts don’t need to be audited is 31st July. Till now, more than 3.73 crore ITRs have been filed, according to the latest data on the Income Tax website.

.For AY 2021-22, the Government had extended the due date till 31st December given difficulties faced by taxpayers due to the new e-filing website and the Covid-19 pandemic.

Extend Due Date Immediately trends: ITR filing deadline extension for AY 2022-23 – Will it be necessary?

Chartered accountants and tax professionals have pointed out on Twitter that the number of ITRs filed this year till now is less. A large number of taxpayers may end up paying a late filing penalty if the ITR filing last date is not extended.

Will the ITR filing last date be extended this year?

There is no indication from the Government about ITR filing the last date extension till now. It is expected that there won’t be any extended deadline for return filing this year. Earlier, Union Revenue Secretary Tarun Bajaj had said the Government was not considering any plan to extend the deadline.

ITR Filing AY 2022-23: What happens in case you miss filing your ITR by July 31? Know about the late fee, penalty

Tax experts say that the new Income Tax portal is still facing minor technical lag issues, often due to irregular traffic. Therefore any extension of the ITR deadline will depend on how the new e-filing portal handles the web traffic pressure in the run-up to the due date. 

“The ITR filing deadline for Individual taxpayer (not subject to any Tax Audit) w.r.t. FY 2021-2022 (AY 2022-23) is 31st July 2022. However, it has been observed that a large number of taxpayers wait till the last moment to file their ITRs anticipating an extension. Amid the coronavirus pandemic and glitches in the newly launched income tax portal, the deadlines for ITR filing and other Income Tax-related things were considerably extended in a row over the last two years. However, the functioning of operations has substantially improved over the last 2 years and things are back to normal as were before the pandemic,” said Dr. Suresh Surana, Founder of RSM India. 

Six days to go: What happens if you don’t file your income tax returns by 31 July?

“One thing to note here is that the new Income Tax portal which was launched last year has still been facing minor technical lag issues and this last week preceding the 31st July deadline would be critical to watch out for. Further, on July 2, 2022, the income tax department on its official Twitter handle said that software provider Infosys is taking “proactive measures” to deal with the ‘irregular traffic’ on the portal. Given the same, though right now there is no consideration for an extension of the deadline, any further extension would surely be a factor in how efficient the tax return filing portal would function in this last week of July when the web traffic is expected to increase exponentially,” he added. 

What should taxpayers do?

As the Income Tax Return filing’s last date is unlikely to be extended this year, you should file your returns for July 31 if not filed yet. It is always good for tax filers to avoid filing belated ITRs, according to tax experts.

“When it’s about filing income tax return (ITR), it’s earlier is better. We should never delay the filing of the income tax returns,” Sujit Bangar, Founder, Taxbuddy.com, told FE PF Desk.

ITR due date extension not happening. Can you set off stock market losses against salary?

According to Bangar, there are at least four types of negative consequences taxpayers face if they fail to file their return by the due date.

The first major consequence of late filing is a penalty. One needs to pay a penalty for filing a belated return.

Second, if there is tax to be paid, you will be charged interest at the rate of1% per month after the end of the due date till you pay taxes and file ITR.

Third, one cannot carry forward losses.

Fourth, late filing of ITR will result in late processing, and your refund, if any, will get further delayed.

Extend Due Date Immediately Trends On Twitter As ITR 

https://www.india.com › Business

3 days ago — Last fiscal (2020-21), about 5.89 crore ITRs (Income Tax Returns) were filed by the extended due date of December 31, 2021.

Latest News & Videos, Photos about Income tax return extension

https://economictimes.indiatimes.com › topic › Income-

This is the second time in this financial year that the government has extended the ITR filing deadline for individuals whose accounts are not required to be 

What happens if you miss the ITR filing deadline of July 31, 2022

https://economictimes.indiatimes.com › Wealth › Tax

29-Jun-2022 — Due date of filing belated ITR is December 31, 2022, for FY 2021-22 (AY 2022-23), unless extended by the government. If the ITR is filed 

No proposal to extend last date for ITR filing: Govt – Mint

https://www.livemint.com › news › india › no-proposal

31-Dec-2021 — The Centre on Friday said that there is no proposal to extend the date for income tax return filing. The last day to file income tax returns 

ITR filing last date on March 31: Know what happens if you 

https://www.republicworld.com India Business

29-Mar-2022 — After extensions, the last date for filing Income Tax Return (ITR) for FY 2020/21 (AY 2021/22) is March 31. Know what happens if the deadline is 

ITR Filing Due Date on December 31, No Plan to Extend 

https://www.news18.com › news › business › tax › itr-fi

31-Dec-2021 — Income Tax Filing: The government is not likely to extend the income tax return filing date, it said on Friday December 31. The last date to 

Income Tax return filing: Netizens seek deadline extension

https://www.businesstoday.in › TRENDING

2 days ago — The due date to file ITR for AY 2022-23 is July 31, 2022. We urge you to file your ITR at the earliest, if not filed as yet

Request to Extend Income Tax Return due date for Non-Audit 

https://taxguru.in › income-tax › request-extend-incom

6 days ago — Representation requesting for Extension of due date for filing Income Tax Returns (Non-Audit and Salaried) for AY 2022-23 under section 

ITR filing last date: What happens if you miss March 31 

https://www.hindustantimes.com › business › itr-filing-

31-Mar-2022 — The original deadline was July 31, 2021, but that was extended because of Covid; the date was revised to December 31, 2021, then February 15, 

Income Tax Return – ITR Filing AY 2022-23 – The Indian Express

https://indianexpress.com › Business

5 hours ago — Since the government has made it clear the last date will not be extended this year, anyone missing the July 31 deadline may file their ITR 

Extend Due Date Immediately trends: ITR TAX CONCEPT

https://taxconcept.net › income-tax › extend-due-date-i

2 days ago — 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 

ITR Filing: Last date to file income tax returns ends today

https://english.jagran.com › Business

31-Mar-2022 — Earlier, the deadline for ITR filing was set as July 31. However, the date was extended due to Covid-19. Now, the deadline will not be extended 

ITR filing: Will Income Tax Department extend December 31 

https://www.indiatoday.in › Business

29-Dec-2021 — Scores of panicked taxpayers have requested the Income Tax Department to extend the December 31, 2021 due date for filing ITR.

What Is The Due Date For Filing ITR For Fy22 – Goodreturns

https://www.goodreturns.in › personal-finance › taxes

14-Jul-2022 — So, likewise, some of the experts are anticipating that ITR deadline may be extended by a month or so. Nevertheless it is always best to not

 

 

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