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With new I-T portal ‘stabilising’, taxpayers urged to file ITRs at the earliest

The cash flow tax department has urged taxpayers to file their money tax returns for the financial year 2020-2021 at the earliest and claimed the functionality of the new I-T portal has “substantially stabilised.”

Yesterday, Infosys CEO echoed the similar sentiment, indicating the portal is seeing “constant development” and taxpayers’ considerations are remaining “progressively addressed”.

He, even so, did not point out by when will technical glitches be totally fixed and all features on the portal will be obtainable to tax filers.

Over 2 crore ITRs for the financial year 2020-21 have been submitted so much, mentioned the IT office. To make the course of action much more simpler, all ITRs have been designed out there for e-submitting.

The new portal was introduced on June 7 and in the preliminary interval, taxpayers experienced claimed glitches and problems in the functioning of the portal.

“A lot more than two crore ITRs for AY 2021-22 have been filed on the portal, of which ITRs 1 and 4 represent 86 for each cent. It is encouraging to take note that additional than 1.70 crore returns have been e-verified, out of which 1.49 crore are by Aadhaar dependent OTP,” the CBDT mentioned in a assertion.

The tax department has claimed that a number of technical challenges have because been settled and the general performance of the portal has significantly stabilized.

“More than 13.44 crore exceptional taxpayers have logged in till 13 Oct, 2021. Roughly 54.70 lakh taxpayers have availed of ‘forgot password’ facility to receive their passwords,” it additional.

The CBDT has issued refunds of over 84,781 crore to far more than 59.51 lakh taxpayers from 1 April to 11 October. Of the overall refunds, Income tax refunds of 22,214 crore have been issued and corporate tax refunds of 62,567 crore have been issued.

Submitting an ITR early has lots of benefits for taxpayers. Even while the govt has furnished aid in timelines, there is no escape on the penalty for late filing of returns. Several taxpayers sooner or later shell out interest for hold off in return filing and payment of tax.

Apart from the desire on tax payable, missing the owing day appeals to late price as perfectly.

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