With only three days left to file the Income Tax Returns (ITR), the income tax department is leaving no stone unturn in reminding the taxpayers to file their ITR on time, the last date being 31 December 2020.
Around 4.37 crore income tax returns for fiscal 2019-20 (Assessment Year 2020-21) have been filed till December 28, the Income tax department said in a tweet on Tuesday. The tax department asked taxpayers not to wait and file returns early.
Income tax department has been sending multiple reminders to the taxpayers through emails and SMSs as well as social media posts to file income tax return (ITR) for FY2019-20. Normally, the last date for filing a tax return is 31 July every year. However, due to the pandemic, the last date has now been extended to 31 December 2020 this year.
According to the tweet, over 2.44 crore taxpayers filing ITR-1, over 95.64 lakh filing ITR-4, over 53.12 lakh ITR-3, and over 32.30 lakh filing ITR-2.
The deadline to file I-T returns by individual taxpayers for the 2019-20 fiscal (Assessment Year 2020-21) ends on December 31, 2020, while the same is for taxpayers whose accounts require to be audited is January 31, 2021.
At the close of deadline for filing ITR without payment of late fees for fiscal 2018-19 (assessment year 2019-20), over 5.65 crore returns were filed by taxpayers. The deadline last year was extended till August 31, 2019.
Meanwhile, The Income Tax department has also introduced a new initiative to smoothen the ITR filing experience for taxpayers. The ‘Jhatpat Processing’ feature will help individuals in filing tax returns quickly in a seamless manner.
Further, India's largest lender State Bank of India (SBI) is providing a new service to its customers that enables them to file through the YONO app an income tax return (ITR) for free. This new service could help customers as the due date for filing ITR ends on December 31, 2020.
If you are a SBI customer and have not yet filed the ITR, then you can use this service to file your income tax returns. "File your Income Tax Return with Tax2win on YONO for free." SBI had said. However, to avail the chartered accountant-assisted tax filing facility, customers should be ready to shell out at least Rs 199, the bank said.