Over 4.67 crore ITRs filed on new e-filing portal of Income Tax Department
Author: BI Bureau
New Delhi: Over 4.67 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on December 27, 2021. More than 15.49 lakh ITRs were filed on 27.12.2021 and this number is likely to increase further as the due date of 31st December is approaching, said the Finance Ministry in a statement.
Out of 4.67 crore ITRs filed for AY 2021-22, 53.6 per cent of these are ITR1 (2.5 crore), 8.9 per cent is ITR 2 (41.7 lakh), 10.75 per cent is ITR3 (50.25 lakh), 25 per cent are ITR4 (1.17 crore), ITR5 (5.18 lakh), ITR6 (2.15 lakh) and ITR7 (0.43 lakh). Over 48.19 per cent of these ITRs have been filed using the online ITR form on the portal and the balance have been uploaded using the ITR created from the offline software utilities.
Over 3.91 crore returns have been verified, out of which more than 3.35 crore are through Aadhaar based OTP. In the last three days itself, 27.7 lakh Aadhaar OTP requests have been generated on the new e-filing portal. Taxpayers are advised to complete e-verification at the earliest in pending cases. Of the e-verified ITRs more than 2.88 crore ITRs have been processed and over 1.07 crore refunds for AY 2021-22 have been issued.
The Income Tax Department has been issuing reminders to taxpayers through e-mails, SMS and media campaigns encouraging them not to wait till the last minute and file their Income Tax Returns without further delay. All taxpayers who are yet to file their Income Tax returns for AY 2021-22 are requested to file their returns at the earliest to avoid any late fee, said the Ministry. /BI/
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The exports of agricultural commodities from March to June 2020 shot up by 23.24 percent on-year to Rs 25,552.7 crores.
As the economy comes to a standstill amid the coronavirus-led lockdown, India’s agriculture sector has taken the baton of economic growth in its hands. The exports of agricultural commodities from March to June 2020 shot up by 23.24 percent on-year to Rs 25,552.7 crores, according to the Ministry of Agriculture & Farmers Welfare. The government said that self-reliant agriculture is critical for the goal of an Atmanirbhar Bharat and for this, agricultural export is extremely important as besides earning foreign exchange for the country, the exports help farmers, producers, and exporters to take advantage of the wider international market and increase their income.
The surge in exports has also resulted in increased production in the farm sector by increasing coverage area and productivity. The share of India’s agricultural exports and imports in the world agriculture trade in 2017 was 2.27 percent and 1.90 percent, respectively. Even during the difficult time of pandemic lockdown, India took care not to disturb the world food supply chain and continued to export, the government said.
Ministry of Agriculture has prepared a comprehensive action plan for the promotion of Agri trade; the twofold approach focuses on boosting Agri Export with emphasis on value addition and action plan for Import Substitution. Recently, the Agriculture sector has witnessed a series of reforms, giving more choices to the farmers to sell their produce at competitive rates.
To mention a few, the Export strategy focuses on the export promotion of fast-evolving niche markets of Wellness food/ Health-conscious food/nutraceuticals, Development of “Brand India” in campaign mode to help penetration into new foreign markets and of new products which automatically translates into higher value realization, Gulf countries have been identified as focus destination to increase the market share which is a strong market for India though presently India caters to only 10-12% share of their total imports. A product-market matrix has been made containing a list of products of strength that could be expanded in new geographies and a list of known markets which can be introduced with newer products.
At the behest of the Department of Agricultural Cooperation & Farmers’ Welfare, Ministry of Agriculture, product-specific Export Promotion Forums have been created to lead Agri exports to new heights. Each Export Promotion Forum shall be having exporters of the related commodity as its members along with official members representing concerned Ministries/Departments of the Central and State Governments. Chairman APEDA shall be the chairman of each of these forums. The forums will meet at least once every two months, to discuss recommendations on issues pertaining to the export.
The recommendations of the forum will be placed in the product committee / Authority of APEDA. The Forum will keep in close contact with the concerned organization of the Ministry of Agriculture such as MIDH, Extension, NPPO, etc., DGFT, Ministry of Civil Aviation, MoFPI, etc. to further the interest of agricultural export.
