On August 30, the second last day of filing the income tax return (ITR), over 20 lakh returns were filed.
There's been a surge in income-tax returns filed this year with a jump of over 60 percent seen compared to last year. With this increase, the total number of tax returns filed in this year has touched the five crore mark, as per a report in The Times of India.
As per the data revealed by the publication, on August 30, the second last day of filing the income tax return (ITR), over 20 lakh returns were filed. This is expected to rise further on the last day (August 31).
The credit of this surge in ITR filing can be attributed to better education initiatives taken by the tax authorities. However, it further believes that the government’s decision to impose a penalty on anyone filing tax returns after August 31 also led to more people taking up the task on time.
The government had earlier extended ITR for the previous financial year to be filed without a penalty until March-end. By the end of the last financial year, 6.8 crore returns were filed, according to the data stated in the report.