The Income Tax Department reported that over 7 crore income tax returns (ITRs) have been filed by 7 PM on Wednesday, the final day for filing ITRs for the fiscal year 2023-24. The department posted on X (formerly Twitter), "More than 7 crore ITRs have been filed so far (31st July), out of which over 50 lakh ITRs have been filed today till 7 PM!"
Meanwhile, the Income Tax Department confirmed that the deadline for filing income tax returns (ITR) for the financial year 2023-24 is today, July 31, 2024, and no extension has been announced despite circulating rumors on social media.
PIB fact check debunks extension rumors
The I-T Department shared a PIB Fact Check on X (formerly Twitter), stating, “An advisory of Office of Press Registrar General of India shared on social media is being misconstrued as extension of due date for filing ITR.” The fact check clarified that the advisory is not related to an ITR filing extension.
Technical glitches and social media pressure
Many taxpayers have reported technical issues while filing returns, leading to increased pressure on social media for an extension. However, the tax department has remained firm on the July 31 deadline.
Experts weigh in
Experts, including Ritika Nayyar, Partner at Singhania & Co, have indicated that an extension is unlikely unless there is an unavoidable emergency. Nayyar explained that demands for extensions usually arise due to technical problems but noted that with many ITRs already filed and frequent reminders from the I-T Department, an extension is not justified.
Impact of deadline extension
Nayyar highlighted that extending the deadline could negatively affect the entire tax filing and processing system. "Date extension also has a ripple effect on ITR filings for other categories of taxpayers and the processing of returns. So, until the situation affects a large section of taxpayers or there is an emergency beyond control, it is unlikely to happen,” she said.
Urgent reminder to taxpayers
The tax department has urged taxpayers to complete their ITR filings by the July 31 deadline to avoid penalties for late filing.
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