March 15 was the last date for filing ITRs for fiscal 2020-21 by corporations and other taxpayers required to file audit reports. The last date for private individuals was December 31, 2021.

As of March 15, more than 6.63 crore income tax returns (ITRs) have been filed for fiscal year 2020-21, an increase of 16.7 lakh from the tax returns filed last year, the IT department said on Wednesday.

March 15 was the last date for filing ITRs for fiscal 2020-21 by corporations and other taxpayers required to file audit reports. The last date for private individuals was December 31, 2021.

“Over 6.63 crore income tax returns (ITRs) were filed for AY 2021-22 on the Income Tax Department’s new e-filing portal on March 15, 2022… This reflects an increase of over 16.7 lakh ITRs over versus the total submission of ITRs for AY 2020-21 to March 15, 2021,” the IT department said in a statement.

More than 5.43 lakh ITRs were filed on March 15, 2022, compared to 4.77 lakh last year at the expiration date, while more than 13.84 lakh ITRs were filed in the last five days (compared to 11.87 lakh earlier) .

Of the 6.63 crore ITRs filed for AY 2021-22, 46 percent is ITR-1 (3.03 crore), 9 percent ITR-2 (57.6 lakh), 15 percent ITR-3 (1.02 crore), 26 percent are ITR-4 (1.75 crore), and 2 percent are ITR-5 (15.1 lakh), ITR-6 (9.3 lakh) and ITR-7 (2.18 lakh).

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms suitable for a large number of small and medium-sized taxpayers.
Sahaj can be filed by a person who has an income up to Rs 50 lakh and who receives income from salary, a home property/other sources (interest, etc.). ITR-4 can be filed by individuals, HUFs and corporations with a total income of up to Rs 50 lakh and having income from business and profession.

ITR-3 is filed by people who have income as business/profession profits, while ITR-5, 6, and 7 are filed by LLPs, corporations, and trusts, respectively.

Furthermore, of the 6.63 crore ITRs filed for AY 2021-22, more than 6.01 crore has been verified (75 percent using Aadhaar OTP).

Out of the verified ITRs, more than 5.17 crore has been processed through March 15, 2022 and 1.83 crore refunds have been issued for AY 2021-22.

To help taxpayers with a smooth experience on the portal, the helpdesk itself answered more than 8,500 taxpayer calls and 260 chats as of March 15, 2022.

Two email IDs have been created to quickly resolve taxpayer complaints related to uploading ITRs (itr.helpdesk@incometax.gov.in) and Tax Audit Report (TAR) (tar.helpdesk@incometax.gov .in).

In this regard, 16,252 emails were received, of which 16,233 were resolved on March 15, 2022.

“The ministry has proactively engaged and reached out to taxpayers and professionals for assistance through its official Twitter handle on an ongoing basis and through direct webex calls/webinars for better guidance,” it added.

The last date of filing of late declaration, revised declaration, linking of Aadhaar and PAN and compliance with the e-procedures for assessment etc. is March 31, 2022.


This post Over 6.63 crore ITRs for FY21 filed through March 15 was original published at “https://www.financialexpress.com/money/income-tax/over-6-63-crore-itrs-for-fy21-filed-till-march-15/2463295/”

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