Income tax returns deadline July 31, dept to help out on weekend
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I-T dept working on Jul 31 for returns

"The weekend will also be a more convenient time for assessees to file their returns as they do not have to go for work and on Sunday the counters will close at 8 pm," a senior IRS officer said.

  • New Delhi,  August 1, 2011  
  • |  
  • UPDATED   07:59 IST

The Income Tax (I-T) department will be working on Saturday and Sunday as well to enable taxpayers to avail the full benefit of the July 31 deadline for filing their returns.

How to e-file income tax returns

"The weekend will also be a more convenient time for assessees to file their returns as they do not have to go for work and on Sunday the counters will close at 8 pm," a senior Indian Revenue Service (IRS) officer told MAIL TODAY.

He said the I-T department had been extending the deadline in previous years too, to provide a last chance to those who had still not filed their returns. A special notification had to be issued and this involved a rather cumbersome procedure.

Now file income-tax returns from your mobile too!

"With the department deciding to function on the weekend as well it is felt that there may not be any need to extend the deadline this year," he added.

Those who still miss the July 31 deadline can file their returns within the financial year if they have paid their entire tax dues.

However, if some tax still has to be paid, the department will charge a 12 per cent interest on the amount and the assessee is also liable to pay a fine of Rs 5,000.

No tax returns on pay upto Rs 5 lakh per annum

According to senior officials, an appeal can be made against the fine if the deadline has been missed for some genuine reason, such as a person falling sick or having gone abroad at the time.

There has been a sharp drop in the number of taxpayers turning up to file their returns at the special counters set up by the I-T department this year as more people are turning to e-filing and those with incomes of up to Rs 5 lakh have been allowed to skip the annual exercise.

IRS officials said that the number of taxpayers that have turned up to file paper returns this year appear to be around 40 per cent of those that had come last year.

More people are turning to efiling as it is more convenient and tax refunds come in more quickly. Senior officials point out that around 97 per cent of the refunds for those filing e-returns have already been made.

Courtesy: Mail Today