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The deadline for filing income tax returns (ITRs) for the financial year (FY) 2023-24 in India is rapidly approaching, set for July 31st. While taxpayers are urged by the Income Tax department to submit their returns before the deadline, the likelihood of an extension remains slim. This is primarily attributed to the substantial number of ITRs already filed, exceeding 5 crore as of July 26th, significantly higher than the same period last year. The government did not extend the deadline for filing ITRs last year, only extending it two years prior due to the COVID-19 pandemic.
The Income Tax department has also issued an alert to the public, clarifying that rumors circulating online claiming an extension of the deadline to August 31st, 2024, are false. The official deadline for FY2023-24 remains July 31st, 2024. However, taxpayers have encountered a multitude of technical glitches on the e-filing portal, including difficulties with Aadhaar-based OTP authentication, slow page loading speeds, and upload errors. These issues have prompted concerns from various professional bodies like the Institute of Chartered Accountants of India (ICAI), All Gujarat Federation of Tax Consultants, and the Income Tax Bar Association.
The Central Board of Direct Taxes (CBDT) chairman has acknowledged the technical difficulties and stated that the department is working closely with service providers Infosys, IBM, and Hitachi to address these issues. He assures that the website will function properly, despite the high volume of filings and the significant compliance levels. Despite the low probability of an extension, taxpayers are advised to prioritize filing their ITRs before the deadline to avoid penalties. It is also crucial for the Income Tax department to expedite the resolution of the technical glitches on the e-filing portal to ensure a smoother and less stressful experience for taxpayers.
Source: ITR filing last date is July 31. Will income tax return deadline be extended?