ITR Filing update: 41% of Indians have not yet submitted their paperwork for filing ITR

ITR Filing update: According to a new report released on Thursday, as the deadline for filing income tax returns approaches, 41% of Indians who are eligible to do so have not yet submitted their paperwork for the fiscal year 2021–2022; 22% say it will be challenging to do so by the July 31 deadline; and 10% experienced technical difficulties.

According to data given by local social media network Local Circles, 59% of respondents claimed they had already filed their tax returns, which is a significant improvement over the results from a week prior on July 20.

In a previous study, Local Circles discovered that 54% of respondents had not yet complied with the requirement to file tax returns by the end of this month, and that 37% were still unsure of their ability to do so.

According to the latest survey of ITR Filing update, 13% of respondents say "substantial effort" is needed to achieve the deadline, and 9% say it would be impossible. The administration has said the deadline won't be changed.

The Income Tax department tweeted to the public to let them know that "On the e-Filing platform, more than 3.4 crore ITRs for the tax year 2022–23 had been submitted as of July 26, 2022. ITR submissions for AY 2022–23 must be made by July 31st, 2022. If your ITR hasn't been submitted yet, we strongly advise that you do so immediately. #FileNow!".

To lessen the impact on taxpayers during the epidemic, the government had extended the ITR filing date for two consecutive fiscal years.

The filing deadline was extended to December 31, 2021, during the most recent fiscal year (2020–21).

Also Read – Stock Market Update Today: Today’s Top Gainers

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.