The Ministry of Finance has said that there is no plan to extend the deadline for filing income tax returns for the financial year 2022-23. The last date for filing returns is July 31, 2023.
Revenue Secretary Sanjay Malhotra stated that there is no proposal under consideration to extend the deadline for filing income tax returns (ITR), and the government does not intend to provide an extension like last year. He emphasized that taxpayers should file their tax returns, and the sooner they do it, the better.
According to Revenue Secretary Sanjay Malhotra, by July 12, there had been a significant increase in the number of tax returns filed compared to the same period in the previous year. Approximately 10 million additional tax returns were filed, bringing the total number of returns filed to around 22 million. This number surpassed the 11.8 million returns filed by July 12, 2022. Based on this data, the revenue secretary stated that there doesn't appear to be a need to extend the filing deadline. The higher number of returns filed suggests that taxpayers are submitting their returns in a timely manner, and therefore, an extension may not be necessary.
Since the revenue secretary has already stated that there is no proposal under consideration to extend the ITR filing deadline, it suggests that the government's current stance is not in favor of granting an extension. However, it's important to note that government policies and decisions can evolve, and it's advisable to refer to official government sources or trusted news outlets for any updates or announcements regarding the deadline.
Regarding the overlapping deadline for GST returns, it's possible that tax professionals and organizations might continue to engage with the government to address this concern and seek a resolution that provides relief to taxpayers.
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