ITR filing extension: No relief to taxpayers on interest liability

ITR filing has increased to 320,000 daily in September 2021

The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. 

Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches.

So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31. CBDT clarified this in the wake of industry stakeholders seeking amendment