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The upcoming Income Tax Return (ITR) filing deadline for FY 2023-24, currently set for July 31, is unlikely to be extended. This comes after the Central Board of Direct Taxes (CBDT) took proactive steps to address concerns raised by taxpayers regarding recent glitches and downtime experienced on the I-T portal. Acknowledging the delays in TDS (Tax Deduction at Source) and Form 16 certificate generation, as well as the overall slowness of the portal, CBDT chairperson Ravi Agarwal assured that these issues have been resolved. He highlighted that as many as 28 lakh tax returns were filed on Wednesday with no downtime reported, showcasing the improved portal performance. This assurance comes after a significant increase in transactions reported this year, coupled with the challenges posed by government officials involved in election duty, which led to delays in the issuance of deduction certificates.
To mitigate these challenges, the CBDT has implemented corrective measures by ramping up hardware capacity and deploying new solutions. The surge in transactions has been significant, with a 15% growth in TDS transactions and a 30% increase in third-party transactions. This surge in data volume contributed to the delays in generating pre-filled ITR forms and issuing TDS certificates. The election duty of government officials further exacerbated the situation, leading to a backlog in processing TDS statements. The CBDT acknowledges the impact of these delays and assures taxpayers that they have taken necessary steps to address the backlog, ensuring that TDS certificates are now readily available for download. The CBDT's actions demonstrate their commitment to streamlining the tax filing process and providing a smooth experience for taxpayers.
The successful resolution of the I-T portal issues and the assurance of the July 31 deadline being maintained underscores the CBDT's proactive approach to tackling challenges encountered during the tax filing season. This proactive stance is crucial to ensure a seamless and efficient experience for taxpayers, promoting compliance and contributing to the overall well-being of the Indian tax system. The CBDT's timely response and efforts to address the concerns raised by taxpayers will likely be welcomed by individuals and businesses alike, facilitating a more convenient and efficient tax filing experience.
Source: ITR filing deadline FY 2023-24: July 31 deadline may stay; Income Tax portal ramped up