Alert Taxpayers! Complete This Pending Work Now

Income Tax Department has released a letter which is to alert taxpayers across the country. Taxpayers who have not accepted Tax Audit Reports from their Charted Accountants should immediately do the submissions. The statement was given by Central Board of Direct Taxes, New Delhi.

CBDT said, “The Department expresses gratitude to all tax professionals and taxpayers for their support in compliance and requests the attention of taxpayers who are yet to accept the Tax Audit Report submitted by their CA to complete the process of submission.”

Alert taxpayers because the Tax Audit Report validates the income tax computation that is done by you while filing income tax return.

Over 29.8 lakh Tax Audit Reports have been filed on the official e-filing portal of Income Tax Department by February 15, 2022. Over 2.65 lakh Form 3CA-3CD and over 24.5 lakh Form 3CB-3CD have been filed for financial year 21-22. Over 2.71 lakh other Tax Audit Reports (Form 10B,10BB, 10CCB, 29B, 29C, 3CEB) have been filed as per report released by CBDT.

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Out of 6.26 crore ITRs more than 5.41 crore have been verified for assessment year 21-22. Out of 5.41 crore ITRs more than 4.50 crore ITRs have been processed. Income Tax Department has released refunds of over 1.58 crore for the assessment year 21-22.

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Siddhant Baranwal

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