The Income Tax Department has urged taxpayers to file their Income Tax Return (ITR) for the financial year 2020-21 at the earliest. The Central Board of Direct Taxes (CBDT) has informed that more than two crore ITRs have been filed so far on the new IT portal. According to the department, most of the difficulties being faced by the new IT portal have now been removed. According to the Income Tax Department, all ITRs are now available for e-filing.
The CBDT said in a statement that during the assessment year 2021-22, more than two crore ITRs have been filed so far, in which ITR-1 and ITR-4 account for 86 percent. It is encouraging that more than 1.70 crore ITRs have been verified electronically. Out of this, 1.49 crore have been verified through Aadhar card based One Time Password (OTP).
It is worth mentioning that its other methods, including e-verification from Aadhaar-OTP, are very important. It is only after this verification that the Income Tax Department releases the return amount to the eligible taxpayers in their bank accounts. The Income Tax Department has said that out of the verified ITR-1 and ITR-4, about 1.06 crore have been processed. Under this, so far for the financial year 2020-21, returns have been issued in 36.22 lakh cases. At the same time, the work of processing ITR-2 and ITR-3 will be started soon.
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