ITR Deadline: Taxpayers Face Glitches, I-T Dept Offers Solutions
With the September 15th deadline just days away, taxpayers are struggling to file their income tax returns (ITRs) for FY 2024-25. The process has been plagued by technical glitches and delays, largely due to the late release of essential filing utilities by the Income Tax Department.
Key Issues and Delays
ITR filings this year have been significantly slower than in previous years. Only 5.47 crore returns have been filed so far, a stark contrast to the 7.28 crore filed by July 31st of the previous year. Taxpayers are grappling with:
- Portal Glitches: Crucial platforms like the Annual Information Statement (AIS), Form 26AS, and Taxpayer Information Summary (TIS) have been intermittently unavailable or slow. The TRACES portal, used for downloading TDS certificates, has also experienced outages since September 11.
- Delayed Utilities: The Central Board of Direct Taxes (CBDT) extended the deadline to September 15th but released most ITR utilities much later than usual. Forms ITR-2 and ITR-3, for example, were made available in mid-July, while ITR-5 and ITR-6 utilities were released in August. This compressed timeline has created immense pressure for taxpayers and professionals.
- Weekend Crunch: The bank holiday on September 13th and 14th adds to the stress, as taxpayers who need to make cash deposits for tax payments may face closed banks.
I-T Dept’s Recommendations for Smooth Filing
To avoid penalties and ensure a smooth filing experience, the Income Tax Department has issued the following recommendations:
- Browsers: Use Microsoft Edge (v88+), Chrome (v88+), Firefox/Mozilla (v86+), or Opera (v66+).
- Operating Systems: Ensure your system runs on Windows 7.x or above, Linux, or Mac OS.
- Browser Settings: Enable CSS, JavaScript, and cookies for full portal functionality.
- Digital Signature: A Class 2 or Class 3 Digital Signature Certificate (DSC) is required for certain filings.
Consequences of Missing the Deadline
Missing the September 15th deadline can be costly. Taxpayers may face a late filing fee of up to Rs 5,000, with a reduced fee of Rs 1,000 for incomes below Rs 5 lakh. Additionally, the department levies a 1% monthly interest on any unpaid tax.
Experts are urging taxpayers to act quickly. Check your system compatibility, gather all necessary documents, and file your return as soon as possible to avoid these penalties.