NEW DELHI: As the income tax return filing deadline is getting closer, the e-filing website of the Income Tax department is seeing over 4 lakh returns being filed every day, and the number is increasing every passing day.
The income tax department in a statement on Sunday said that more than 3 crore income tax returns (ITRs) have now been filed on the new e-Filing portal as on 3 December 2021.
The department has advised all taxpayers, who are yet to file their Income Tax returns for assessment year (AY) 2021-22 to file their returns at the earliest to avoid last minute rush.
It has also exhorted the filers to view their Form 26AS and Annual Information Statement (AIS) through the e-filing portal to verify the accuracy of the TDS and Tax Payments and avail of pre-filling of ITRs.
“It is important 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 case of purchase and sale of equity/Mutual funds etc,” said the statement from the tax department.
According to the I-T department, return filing has increased to 3.03 crore ITRs for assessment year 2021-22.
Of the 3 crore returns files so far, 58.98% of these are ITR1 (1.78 crore), 8% is ITR2 (24.42 lakh), 8.7% is ITR3 (26.58 lakh), 23.12% are ITR4 (70.07 lakh), ITR5 (2.14 lakh), ITR6 (0.91 lakh) and ITR7 (0.15 lakh).
Over 52% of these ITRs are filed using the online ITR form on the portal and the balance are uploaded using the ITR created from the offline software utilities.
TR 1 is filed by individuals with income from salary/pension, one house property and other incomes. ITR 4 is for individuals who have income from business or profession.
ITR 2 is for individuals who have income from salary/pension, capital gains and foreign assets while ITR 3 is for individuals with income from business/profession and as a partner in a firm. ITR 5,6 and 7 are for firms and corporates.
In November, 48% of the verified ITRs 1, 2 and 4 had been processed on the same day.
Of the verified ITRs, more than 2.11 crore have been processed and over 82.80 lakh refunds for AY 2021-22 have been issued.
Around 2.69 crore returns have been e-verified, out of which more than 2.28 crore are through Aadhaar based OTP.The government had extended the deadline – which normally is 31 July -- for filing of returns several times, earlier due to Covid-19 and later due to technical glitches in the new e-filing portal.