Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal said on Wednesday that more than 66 percent of the total income tax returns (ITRs) filed so far in the current session have opted for the new income tax system. A total of four crore returns have been filed so far. Talking to PTI-Bhasha, he said that the focus of the government and the direct tax department is on ‘simplification’ of tax processes, including filing ITRs with the Income Tax Department and doing other business. The last date for filing income tax returns without penalty is July 31.
More returns filed than last year
Aggarwal said, “The (government’s) view is that the more you simplify, the easier it will be for people to comply, which will increase it.” He said, “This is also seen from the fact that the number of returns (ITRs) filed till date is much higher than the returns filed during the same time last year.” He said that last year the figure of four crore ITRs was crossed on July 25, but this time the number was crossed on the night of July 22.
People adopting the new tax regime
The CBDT chairman said that there is ‘enough attraction’ towards the new tax system and about 66 percent of the income tax returns (ITRs) filed till date are under the new system. “It is expected that going forward we will get more benefits (under the new ITR system).” He said that about 7.5 crore ITRs were filed by the last date on July 31 last year.
