The Central Board of Direct Taxes (CBDT) on Thursday informed that it has given refunds of more than Rs 1,54,302 crore. “CBDT has given refunds of over Rs 1,54,302 crore to over 1.59 crore citizens from April 1, 2021 to January 10, 2022,” the CBDT said.
Alongside this, the office said, “Income tax refunfd of Rs 53,689 crore has been given in 1,56,57,444 cases and corporate tax refund of Rs 1,00,612 crore has been given in 2,21,976 cases.”
What number of ITRs have been documented till 31st December?
It is quite significant that around 5.89 crore Income Tax Returns (ITRs) were documented till the December 31 deadline on the new e-filing portal for the monetary year 2020-21 (finishing March 2021). Out of this, over 46.11 lakh ITRs were recorded on December 31 itself. The CBDT had said, “Around 5.89 crore Income Tax Returns (ITRs) have been recorded on the new e-filing portal of the Income Tax Department till December 31, 2021.”
Of the 5.89 crore ITRs petitioned for the appraisal year 2021-22 (2020-21 monetary year), 49.6 percent ITR1 (2.92 crore), 9.3 percent ITR2 (54.8 lakh), 12.1 percent ITR3 (71.05 lakh), 27.2 percent ITR4 ( 1.60 crores), 1.3 percent ITR5 (7.66 lakhs). Aside from this 2.58 lakh ITR-6 and 0.67 lakh ITR7 were documented.
If ITR is Not filed yet?
If you had not filed your ITR by 31st December 2021, then, at that point, presently you have time till 31st March 2022 to do as such. However, you should pay a fine for this. Late filers need to suffer a consequence charge to make up for the deferral.
Tax Expert Balwant Jain told that in the event that your pay is in excess of five lakhs, you should mandatorily suffer a consequence expense of 5 thousand rupees while documenting your ITR and in the event that the pay is under 5 lakhs, this punishment charge will be 1,000 rupees.
