he last date for submitting the income tax returns was on July 31, 2022, and this time, the government has not extended the final date for the financial year 2021-22.
The hashtag ‘#Extend_Due_Date_Immediately’ was trending on Twitter on Sunday, as taxpayers insisted for extending the last date from Jul 31.
The Income Tax department informed that almost 68 lakh income tax returns were filed upto 11:00 pm on July 31, 2022, and over 4.5 lakh returns were filed in the last one hour of Sunday.
Income Tax Returns Filed on July 31
A total of 67,97,067 income tax returns for the assessment year 2022-23 were filed on July 31, 2022 until 11:00 pm, as per Statistics of Income Tax Returns.
In only one hour after 11:00 pm until midnight, 4,50,013 income tax returns were filed.
The tax body informed that until July 30, 2022, over 5.1 crore returns were filed.
“Statistics of Income Tax Returns filed today. 67,97,067 #ITRs have been filed upto 2300 hours today & 4,50,013 #ITRs filed in the last 1hr. For any assistance, pl connect on firstname.lastname@example.org or on our help desk nos 1800 103 0025 & 1800 419 0025. We will be glad to assist,” the IT department said in a tweet late on Sunday night.
Carry forward of losses (other than the loss from house property), if any is not allowed if one misses the due date. Losses on the sale of property/shares/capital assets forced to sell during corona should be declared and filed before the due date, said Sudhir Kaushik, the Co-Founder and CEO of TaxSpanner.
“If you find additional income in AIS or other documents which were not declared in original return or not filed at all, then you have to pay 50 per cent additional tax of this pending tax amount if filing updated return within a year and 100 per cent additional if filing after one but before two years,” he added.