For this survey, LocalCircles, a Delhi based market research company, surveyed 12,000 Indians from 315 districts. 41% of these people were from tier-1 cities, 32% from tier-2 and 27% from tier-3,4 cities and rural districts, stated a press release from LocalCircles.
Here is a look at more findings from the survey.
5% tried to file ITR but were facing difficulties
5% Indians voiced their concerns about difficulty in filing ITR. They said that they tried to file ITR and faced difficulty, so they left the process mid-way. These people will again try to file before July 31, 2023.
Few weeks back, there were some concerns about some people’s advance tax, self-assessment tax details missing from their annual information statement (AIS). Some people have started taking to social media to voice their grievances.
Click here to read more about what were the problems which people faced when filing ITR.
8% waiting for the last week to file ITR
The survey found that 8% of Indians admitted that they have not yet filed their ITR but were “comfortable to be able to do so before month end.”
However, 5% of Indians said that although they are yet to file their income tax return (ITR), they will do so now by making an “significant effort before the deadline.”
Earlier this month, several tax filers were puzzled to find out that their AIS had missed capturing their bank savings account interest. Had they relied solely on AIS, then they would have missed mentioning their bank interest in ITR.
Click here to know how to solve this problem of missed bank savings account interest in AIS.
9% said impossible to file ITR by July 31
5% of those surveyed said they haven’t filed their ITR and it will take a significant effort to do so before the deadline and 9% indicated that it will be impossible for them to file the income tax returns by July 31. “In effect, 14% of respondents admitted that they will likely be unable to file their income tax returns by the deadline,” stated the LocalCircles press release.
ITR filing deadline extension
This year because of extreme weather conditions across 7-8 states and its impact on the lives of some, “the survey finds that it is likely that 14% individual income taxpayers will be unable to meet the July 31st deadline for filing income tax returns,” said LocalCircles in a survey note.
This monsoon season saw quite heavy rainfall in many parts of India including the National Capital Region (NCR). There were reports of landslides in Assam, Himachal Pradesh and Uttarakhand. Even in NCR, the flood in Yamuna bank caused the displacement of thousands of people and disrupted the lives of multiple people. Gujarat and Telangana too experienced floods.
“Feedback in community discussions on LocalCircles indicates most people want just a 2-week extension to be able to file their returns as the flood and power outage situation on the ground normalises,” said LocalCircles in a survey note.
However, the Revenue Secretary Sanjay Malhotra last week stated that an extension of July 31, 2023 deadline for filing income tax return for financial year 2022-23 was unlikely and tax-payers should rush to complete filing their income tax returns before the deadline.