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27% income taxpayers yet to file ITR, of which 14% can't meet deadline

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 Floods and related power outages in July in 7-8 states across the country cited as top reason for being unable to file by the July 31st date. At least 27 percent of taxpayers are yet to file their income tax returns for fiscal 2023 while another 14 per cent will be unable to meet the July 31 deadline due to  extreme weather conditions across seven to eight states and its impact on the lives of some, revealed a survey by Local Circles. Feedback in community discussions indicates most people want just a 2-week extension to be able to file their returns as the flood and power outage situation on the ground normalises.Alternatively, the Government could consider giving deadline extension to residents of just those states. The survey received over 12,000 responses from citizens located in 315 districts of India. 68% respondents were men while 32% respondents were women.

 

The survey data showed that while 7 in 10 have already filed their income tax returns; 5 per cent of the respondents have tried but had difficulty in filing and will try again to file by July 31.

Eight per cent  of those surveyed admitted that they haven’t filed their returns yet but will comfortably do so before month end. Five per cent admitted they haven’t filed it and it will take a significant effort to do so before the deadline and 9 per cent  indicated that it will be impossible for them to file the income tax returns by July 31. "In effect, 14% of respondents admitted that they will likely be unable to file their income tax returns by the deadline," said LocalCircles. Be it floods leading to landslides in Assam, Himachal Pradesh and Uttarakhand or excessive rains in Telangana, parts of Gujarat and Maharashtra or displacement of thousands in Delhi NCR due to Yamuna banks and surrounding areas getting flooded, India has experienced a very unusual July.

 

Many of the above states have not only faced floods and water logging but  power outages for long lours and in some areas for days.  Unfortunately for many these disruptions have meant not being able to file their income tax returns by the end of July as required. As the deadline approaches many have shared concerns on social media about being unable to meet the deadline for filing individual income tax returns. Revenue Secretary Sanjay Malhotra last week stated that an extension of July 31, 2023 deadline for filing income tax return for financial year 2022-23 was unlikely and tax-payers should rush to complete filing their income tax returns before the deadline.

 

-Business Standardm  01st August,2023.

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