Income tax in India


The website of Income Tax Department has slowed down since Monday due to the last minute rush of tax-payers as July 31st was the last date for filing returns for the assessment year 2013-14. The date for filing returns, hence, has been extended from July 31st to August 5, said a release issued by Finance Ministry.

The Central Board of Direct Taxes (CBDT) sources said there was an unprecedented surge in the number of returns filled online.

The CBDT has recently made e-filling of income tax returns compulsory for even those having an annual income of up to Rs. 5 lakh. The customers will have to pay an interest rate of 1.5percent per month if they do not pay the return on time. The number of customers opting for electronic route has increased this year.

The government data showed that the number of e-filling returns jumped from 46.8 percent to 92.03 percent. The customers were facing problems while accessing e-filling portal. Small traders whose accounts were unaudited were worried as they were unable to file their returns and check deductions. However the ministry blamed the network constraints of the local internet service providers for the problems faced by the customers.

The government, hence, keeping in mind the convenience of the customers and huge rush in the last couple of days has extended the date of filling of returns. Also, the government alarmed the customers to make proper use of this time and file their returns after paying due taxes.