Can the date for filing income tax return be extended?
Bangalore, December 15, 2021, Saturday Thus the financial year runs from March to March. Normally, income tax returns are filed by the end of July, but due to the Corona epidemic, the deadline for filing income tax returns for 2020-21 and filing year 2021-2 was earlier extended to September 30. It was later extended to December 31. There is still speculation that this date may be extended after the two-time filing of returns has been extended. It is argued that by December 15, 2021, 4.5 crore people have filed ITRs for the financial year 2020-21. The deadline for filing a return is now 15 days. An average of 3 lakh returns are being filed daily. As such, the number of people filing returns is likely to be lower than last year. Last year, for the year 2015-20, 25 million people had filed IT returns. The January 31 deadline is not enough for at least that number to be maintained. Based on this, IT file debt is expected to increase. A new portal was launched in June for filing ITR in t...