5.62 crore returns have been filed till now; 20 lakh ITRs filed today: Revenue Secretary

Revenue Secretary Tarun Bajaj announced that so far 5.62 crore income tax returns (ITRs) have been filed by taxpayers for the assessment year 2020-21.

New Delhi: Revenue Secretary Tarun Bajaj, on Friday (December 31), announced that so far 5.62 crore income tax returns (ITRs) have been filed by taxpayers for the assessment year 2020-21. 

“By 3 pm today, 5.62 crore returns have been filed in total. Today, more than 20 lakh returns were filed. This year 60 lakh more returns have been filed, Bajaj said. 

Income tax return filing is going on smoothly. By 3pm today, 5.62 crore returns have been filed in total. Today, more than 20 lakh returns were filed. This year 60 lakh more returns have been filed: Revenue Secretary Tarun Bajaj pic.twitter.com/UhonXfIhrk — ANI (@ANI) December 31, 2021

Bajaj also said that income tax return filing is going on smoothly till now, while addressing the concerns related to the malfunctioning of the income tax portal developed by IT major Infosys.  

The last date to file the income tax returns for FY21 is December 31. Taxpayers who miss the deadline will need to pay a penalty if they file income tax returns anytime later than Dec 31. 

The Income Tax department had extended the ITR filing deadline twice, first from July 31 to September 30, 2021, and then from September 30 to December 31, 2021, due to the issues faced by taxpayers due to the pandemic. Also Read: Last trading day of 2021: Sensex rallies over 450 points, Nifty rises by 150 points

If a taxpayer misses the deadline for filing the income tax returns, a maximum penalty of Rs 10,000 was levied till last year. However, with effect from FY21, the authorities have lowered the fine to Rs 5000. Also Read: Who is Bitcoin’s founder? Elon Musk believes THIS computer genius is behind cryptocurrency