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Income Tax Updates: New loan cases stuck in banks due to ITR, know the reason

Income Tax Updates: ITR3 (ITR3) forms are not being submitted for filing returns related to business firms or companies on the website.


New Delhi. Due to the new website launched for many facilities including income tax assessment, ease of filing returns, people have got into trouble. Alam is that they are no longer able to apply for loans in banks. They have to go through many small problems.

25-year-old Ankit Mehra, who started a startup in Delhi two years ago, is doing rounds of banks these days. The lockdown already imposed due to Corona ruined his business. Now when the loan is needed, the banks are asking for three years’ return from them. Mehra’s problem is that the ITR3 form related to his firm is not being submitted on the new website of Income Tax. Similarly, Dinesh Yadav of Ahmedabad is also upset. They too have been circling the banks for the last one and a half monthseven home loans were not available, Bank

CA Harigopal Patidar says that due to the coronavirus epidemic, a large population of the country needs loans but they do not have ITR is. Till a few days ago, ITR 1 and 2 were also not being filed. Then the work of home loan etc. was also affected. Now there is a problem in ITR3 related to business firms or companies only. Not only this, appeals are also not being made to remove the mistakes made in tax assessment. The government is also getting less tax.


4200 crore spent on income tax portal, result cipher

Patidar says that the government has spent 4200 crores on the income tax portal. The country’s reputed IT company Infosys has worked on this. The motive behind this was to reduce the return verification time from 63 days to one day and speed up the refund process. But the technical aspects have been ignored. According to CA Vikas Agarwal, the work of Chartered Accountants in the country has been affected. Income tax department is not giving any update. This worries the taxpayer.The problem is

that the registration is not being done on the DSC portal, due to which the corporate taxpayer is facing problems. Services like e-Proceedings and Digital Signature Certificate are still not working on the new portal. There is no option to amend ITR. Under processing is also showing the returns processed in March 2021. Refund request is not being made.


New website was launched on 7th June The

Income Tax Department launched a new website www.incometax.gov.in on 7th June. Earlier, for the launch of the new website, the Income Tax Department had closed the old website from June 1 to June 6 i.e. for 6 days. Since then there are technical problems on the portal. Due to this, Finance Minister Nirmala Sitharaman had a meeting with Infosys officials on 22 June.

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