ITR- LAST OR DUE DATE SHOULD BE REVISED JUSTIFIABLY CONSIDERING SIZE OF ITR FORM AND INFORMATION AND DATA TO BE FILLED IN.

[DEV KUMAR KOTHARI]

Last dates (popularly called due date) to file ROI without penalty, must be revised considering size of ROI form and data to be filled into ITR forms. There is no justification for last date as 31st July in all general cases.

Except in case of  form ITR 1 Sahaj  in all other ITR forms  last date must be revised suitably.

In case of small unorganized assesses having income from business and profession who are not required to get accounts audited and obtain tax audit report u.s. 44AB. The last date should be similar to TAR cases because limit for TAR has been increased and  they have dealing with people who are required to get TAR.

ITR forms – length of blank forms in PDF format:

We find varying length of ITR form for assessment year 2022-23 as found in blank formats in PDF. ITR form number , applicability as appears on top of ITR form and as per links provided on this websites are as follows:

 ITR-1 SAHAJ     - LENGTH OF PDF  FORM 3 PAGES

[For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand] [Not for an individual who is either Director in a company or has invested in unlisted equity shares or in cases where TDS has been deducted u/s 194N or if income-tax is deferred on ESOP]

Income Return Form [For Individuals having Income from Salary / Pension / Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses)]

ITR-2      - LENGTH OF PDF  FORM 25 PAGES

 For Individuals and HUFs not having income from profits and gains of business or profession]

Income Tax Return form For Individuals and HUFs not having Income from Business or Profession

ITR-3   - LENGTH OF PDF  FORM 45 PAGES

(For individuals and HUFs having income from profits and gains of business or profession)

Income Tax Return form For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship

ITR-4 SUGAM - LENGTH OF PDF  FORM 6 PAGES

[For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE,]

Income Tax Return form For individuals and HUFs having income from a proprietory business or profession

ITR-5 - LENGTH OF PDF  FORM 39 PAGES

INDIAN INCOME TAX RETURN [For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7] (Please see Rule 12 of the Income-tax Rules,1962)

Income Tax Return form For firms, AOPs and BOIs

ITR-6    - LENGTH OF PDF  FORM 49 PAGES

[For Companies other than companies claiming exemption under section 11]

Income Tax Return form For Companies other than companies claiming exemption under section 11

ITR-7  - LENGTH OF PDF  FORM 34 PAGES

[For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only]

Income Tax Return form For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D)

The sizes measured in terms of pages are given which are for blank form. On filling of the form the size will increase. The ultimate size will depend on information and data to be entered into the ITR forms.

This will depend on :

a.  nature and size of activities of assessee ,

b.  information found in form 26AS,

c. Taxpayer Information Summary (TIS)

d. Annual Information Statement (AIS) 

e. size of accounts, and reports which are considered in filling of ITR forms.

Uniform last date 31.07.2022, in all general type of cases  is not justified:

Most of general assesses who are not required to get accounts audited and does not fall in some special categories are required to file ROI by 31.07.2022. Whether applicable ITR form is of 3 pages or 49 pages.

The last date must be fixed considering  volume of data to  prepared and fed in ITR forms.

Problems of small individuals and HUF having business and profession income but no need to get accounts audited u.s. 44AB:

Small individuals and HUF having income from business from business  but no requirement to get accounts audited are facing last date as 31.07.2022 irrespective of size of ITR form applicable and records and reports to be considered.

Limit of turnover for TAR has been increased and is now  for business Rs. one crore and for profession Rs. 50 lakh .

Furthermore assessee having income from business, who have not much cash transactions ( within 5% for receipts and payments both) are not required to get TAR for enhanced amount of turnover of Rs. 10 crores .

With more use of baking facilities, many small businesses can avail turnover limit of Rs.10 crores, particularly business engaged in trading of high volume business.

Last date for business and profession cases must be fixed same as in case where TAR is required:

Assesses who are not required to get accounts audited under any law and under income tax Act are usually self-employed people and are not organized. They do not have facility of experts like auditors. However, in their case  also a lengthy ITR form is applicable.

These people have dealing with others as customers and suppliers who are required to get accounts audited. Therefore, many times documents required in relation to such parties are not available quickly because of delay in finalization in their offices.

Therefore, there is no justification for similar  last date as 31.07.2022 in case of assesses who are required to file simple Sahaj ITR of 3 pages and another assesses who are required to file lengthy ITR form. 

The last dates must be revised considering requirement of ITR and other documents.

It is worth to mention that a well-organized large and gigantic size  company having organizational resources, financial resources and manpower can easily make compliance quickly after end of previous year  but for a small business man and professional it is very difficult due to lack of resources.