Hashtag 'Extend Due Dates Immediately' trends on Twitter as tax filing deadline nears

It is that time of the year -- albeit a bit late -- when every person earning a living scampers around trying to file income tax returns. Although the government pushed back the deadline a few times due to COVID-19, the anxiety around the IT-R filing is only going to subside once the momentous chore is complete. The original deadline for filing returns, July 31 was pushed to October 31, before getting extended to December 31. While the December deadline is unlikely to be extended, netizens are still hoping for an extension, so much so that 'extend due dates immediately' is trending on Twitter.

Additionally, a lot of Twitter users took to the site to say that the Income Tax Department site has crashed. It is likely due to the overload of requests from taxpayers.

Chartered accountants pointed out that they are overburdened by requests to file IT-R, and requested for an extension of the December 31 deadline. Many also pointed out that filing returns on time would be a challenge due to the pandemic.

Multiple associations, trade unions, and professionals have asked for staggered extensions in deadlines. They have requested the deadline to be extended to March 31.

According to the rule, if you earn more than Rs 2,50,000 annually, then you are required to file income tax returns. If you don't file the returns by the deadline, then you will have to pay a penalty of up to Rs 10,000. If your taxable income is up to Rs 5 lakh then you will have to pay a fine of Rs 1,000 if the ITR is filed after December 31. If your taxable income is beyond Rs 5 lakh, you will have to pay a fine of Rs 10,000 as late fees.

Around 4.37 crore income tax returns for fiscal 2019-20 (Assessment Year 2020-21) have been filed till December 28. "Over 4.37 crore Income Tax Returns for AY 2020-21 have already been filed till 28th of December, 2020. Hope you have filed yours too! If not filed as yet, don't wait. File your ITR for AY 2020-21 TODAY!," the Income Tax department tweeted.

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Also read: 4.15 crore I-T Returns filed for FY20; higher than FY19