Income Tax Return: Today more than 35 lakh IT returns were filed, in the last one hour the figure was four lakh

The Income Tax Department said on Saturday that 35,67,263 income tax returns have been filed till 6 pm today. Apart from this, 4,48,676 IT returns have been filed during the last one hour.

The Income Tax Department said on Saturday that 35,67,263 income tax returns have been filed till 6 pm today.

Income Tax Department said on Saturday that till 6 pm today 35,67,263 Income Tax Returns have been filed. Apart from this, 4,48,676 IT returns have been filed during the last one hour. Tomorrow is 31st July, the last date for filing income tax return. Let us tell you that it has been clearly said by the government that the date of filing the return will not be extended after July 31. If you file your return from August 1, you will have to deposit the late fee.

Late fee up to Rs 5000

If you have not filed the return by July 31, then you will get a chance to file the return with late fee from August 1, 2022 to March 31, 2023. Talking about late fee, if your income is up to Rs 5 lakh, then late fee will be up to Rs 5000 and if your income is above Rs 1000 and above, late fee will be up to Rs 5000. If your gross total income is less than the basic exemption limit, then no penalty will be levied.

Under the old tax system, income up to Rs 2.5 lakh for an individual below 60 years of age is not taxable. For 60 to 80 years, this limit is Rs 3 lakh and for the elderly above 80 years this limit is Rs 5 lakh. If a taxpayer has opted for the new tax system, then the basis exemption limit for all will be Rs 2.5 lakh only.

Which form was filled?

According to the information shared by the Income Tax Department, a total of 6.63 crore returns were filed in the assessment year 2021-22. This return was filed by 15 March 2022. This also includes corporate taxpayers. Corporate taxpayers are required to get their account books audited.

A total of 3.03 crore ITR-1s were filed in the assessment year 2021-22. Similarly, 57.2 lakh ITR-2, 1.02 crore ITR-3, 1.75 crore ITR-4, 15.1 lakh ITR-5, 9.3 lakh ITR-6 and 2.18 lakh ITR-7 forms were filled. 43 per cent of the returns were filed online.

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If a taxpayer files his return by July 31, it becomes easy for him to file a revised return. In such a situation, if you have not given any information about your income or if a notice comes from the Income Tax Department, then the revised return can be filed easily. If you file your return after July 31, you will not get a chance to file the revised return.



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