oppn parties IT Return Filing Deadline Might Not Be Extended

News Snippets

  • Justice Surya Kaqnt sworn in as the 53rd CJI. Says free speech needs to be strengthened
  • Plume originating from volacnic ash in Ehtiopia might delay flights in India today
  • Supreme Court drops the fraud case against the Sandesaras brothers after they agree to pay back Rs 5100 cr. It gives them time till Dec 17 to deposit the money. The court took pains to say that this order should not be seen as a precedent in such crimes.
  • Chinese authorities detain a woman from Arunachal Pradesh who was travelling with her Indian passport. India lodges strong protest
  • S&P predicts India's economy to grow at 6.5% in FY26
  • The December MPC meet of RBI may reduce rates as the nation has seen steaqdy growth with little or no inflation
  • World Boxing Cup Finals: Hitesh Gulia wins gold in 70kgs
  • Kabaddi World Cup: Indian Women win their second consecutive title at Dhaka, beating Taipei 35-28
  • Second Test versus South Africa: M Jansen destroys India as the hosts lose all hopes of squaring the series. India out for 201, conceding a lead of 288 runs which effectively means that South Africa are set to win the match and the series
  • Defence minister Rajnath Singh said that Sindh may be back in India
  • After its total rejection by voters in Bihar, the Congress high command said that it happened to to 'vote chori' by the NDA and forced elimination of voters in the SIR
  • Central Consumer Protection Authority (CCPA) fined a Patna cafe Rs 30000 for adding service charge on the bill of a customer after it was found that the billing software at the cafe was doing it for all patrons
  • Kolkata HC rules that the sewadars (managers) of a debuttar (Deity's) property need not take permission from the court for developing the property
  • Ministry of Home Affairs said that there were no plans to introduce a bill to change the status of Chandigarh in the ensuing winter session of Parliament
  • A 20-year-old escort and her agent were held in connection with the murder of a CA in a Kolkata hotel
Iconic actor Dharmendra is no more, cremated at Pawan Hans crematorium in Juhu, Mumbai
oppn parties
IT Return Filing Deadline Might Not Be Extended

By Ashwini Agarwal
First publised on 2022-07-25 15:06:37

The Centre has rightly taken the stand of not extending the deadline (31st July) for filing income tax returns for salaried and other individual tax payers whose accounts are not needed to be audited. For the last two assessment years, the deadline was being extended due to the disruptions caused by the pandemic. Before 2020 too, sometimes the government used to extend the deadline after receiving representations from individuals and tax professionals. But this cannot be made a practice and taxpayers have to learn to file their tax returns within time or be ready to pay stipulated penalty.

The financial year ends on 31st March every year. From April to July, four months is enough time for the salaried and individual tax payers whose accounts need not be audited to get their accounting affairs for the last financial year in order and file their tax returns. The government cannot encourage them to be lax by extending deadlines. Filing of income tax return in time is the prime duty of the taxpayer and when all accounts are available with them, it is just plain laziness that prevents them from doing the needful in four months.

The government must remain strict this year, more so as the glitches in the income tax portal that resulted in a huge hue and cry last year have all been taken care of and the filing of returns is much smoother this year. Also, till now there have no reports of the tax portal not being accessible or throwing up vague responses. Tax payers who have filed their returns are happy with the experience and those who haven't must do so before 31st July rather than expect the government to extend the deadline. If one has all the papers at hand, it does not take more than 30 minutes to file the return if one is filing ITR-1 and not more than 45 minutes to one hour if other ITR forms are being filed. The process is even shorter if one is taking the help of a tax professional or one of the many financial portals. So there is no excuse for delaying the task.