5.83 crore income tax returns filed for FY22

NEW DELHI: The Revenue Tax Division has obtained about 5.83 crore tax returns, largely from salaried and particular person class taxpayers, by the tip of the monetary yr 2021-22 submitting season on July 31, officers mentioned Monday. The newest numbers are about the identical because the final fiscal (2020-21).
The due date for submitting of revenue tax returns (ITRs) by salaried class and particular person class taxpayers, who do not need to get their accounts audited for the fiscal ending March 31, 2022, was July 31 (Sunday).
“We have now obtained about 5.83 crore returns by the tip of July 31. Information is being reconciled to state the precise figures,” a senior officer mentioned.
The officer mentioned over the past fiscal, the due date for which was prolonged until December 31, 2021, across the similar variety of returns — at 5.89 crore — had been filed.
Greater than 72 lakh ITRs had been filed on the final day (Sunday) this time, the officer mentioned.
In keeping with newest guidelines, a late price of Rs 5,000 can be payable by these (with an annual revenue of over Rs 5 lakh) who file their ITR by December 31 of the evaluation yr 2022-23.
People with an annual revenue of under Rs 5 lakh shall be liable to pay a late price of Rs 1,000 for delayed return submitting.
In addition to, those that have excellent unpaid tax should shell out an extra 1 per cent curiosity per thirty days for delayed submitting.
The late price won’t apply to these taxpayers whose revenue is under the taxable restrict.