On Wednesday, December 22nd, The Income Tax Department said, the number of filed income tax returns (ITRs) exceeded 4 crores in the previous fiscal year.
The Income Tax Department also disclosed that they received more than 8.7 lakh ITRs on December 21, alone.
With the deadline for submitting FY’21 income tax returns (ITRs) for individual taxpayers approaching on December 31. The income tax department has seen a spike in electronic ITR filings in the last seven days; with 46.77 lakh forms filed in the previous seven days.
The information technology department tweeted, “Over 4 crore income tax returns have been filed! 46.77 lakh #ITRs filed in last 7 days & over 8.7 lakh #ITRs filed on 21st December 2021”.
The department has been reminding taxpayers who have yet to file their returns for the fiscal year 2020-21. The agency is sending SMS and emails to those who have not yet done so.
All taxpayers who have yet to file their income tax returns for the fiscal year 2021-22, should complete them soon. To minimize the last-minute rush, taxpayers should file their ITRs as early as possible, according to the notification.
It is vital for taxpayers to cross-check the data in the AIS statement with their bank passbook, interest certificate, Form 16, and capital gains statement from brokerages in the case of the procurement and sale of equity/ mutual funds, among other things, according to the IRS.
The Finance Ministry has extended the deadline for reporting ITRs from July 31 to December 31 in order to provide taxpayers more time to file their returns.