E-Returns

income tax

Last month was the month for filing income tax returns. According to recent observation over 1.23 Crore, E-Returns were filed by taxpayers this season. It has increased by 68 % as compared to last year.

This season, more than 85 lakh salaried people have filed their tax returns online. An overwhelming response of 85 % of people has been noticed since last year.

According to the Central Board of Taxes (CBDT), 123.03 lakh returns have been filed online till November 30th. In the year 2019, only 5,65,00,000 returns were filed online under ITR and ITR 2 phase.

Earlier the last date of filing Income Tax return was 31st October, which was further extended to November 30th, 2020 for the assessment year 2020-2021.

Link: https://www.financialexpress.com/money/income-tax/itr-filing-last-date-for-ay-2020-21-extended-itr-1-itr-2-and-itr-4-available-for-e-filing/2013139/

A team was specially developed to monitor the technological parameters and other web portals. Electronic filing has been made compulsory for taxpayers having net taxable more than Rs five lakh.

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