02 August,2024 08:18 PM IST | Mumbai | mid-day online correspondent
Representational Pic/File
Taxpayers living in the jurisdiction of Maharashtra's Kalyan Dombivli Municipal Corporation (KDMC) area will now have additional time to benefit from a 5 per cent rebate on property tax, an official statement said on Friday.
It said that the deadline for the discount, originally set for July 31, 2024, has been extended to August 31, 2024.
The rebate applies to property tax payments made by the new deadline, which will be calculated before taxes are added.
"The KDMC's tax assessment and collection department is encouraging citizens to make their payments before the extended deadline to take advantage of this discount and avoid additional charges," the statement said.
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The statement was released by Swati Deshpande, Deputy Commissioner (Tax) Kalyan Dombivli Municipal Corporation.
It said that the residents are advised to pay their property taxes by August 31, 2024, to benefit from the 5 per cent rebate and avoid a 2 per cent penalty for late payment.
"The KDMC has urged the taxpayers under its jurisdiction to act promptly to stay up-to-date with their payments and remain free of arrears," an official said.
72% of taxpayers opt for New Tax Regime while filing ITR for AY 2024-25
Meanwhile, out of the total ITRs of 7.28 crore filed for AY 2024-25, 5.27 crore have been filed in the New Tax Regime while the remaining 2.01 crore ITRs are filed in the Old Tax Regime. Thus, about 72% of taxpayers have opted for the New Tax Regime, while 28% continue to be in the Old Tax Regime.
Additionally, the total number of ITRs for AY 2024-25 filed till July 31 is 7.5 per cent more than the total ITRs filed in the previous AY. For AY 2023-24, 6.77 crore ITRs were filed which went up to 7.28 crore in AY 2024-25.
The taxpayers and tax professionals made their compliances in time, leading to a surge in filing of Income-tax Returns (ITRs), which resulted in a new record of ITRs filed till the last date," said the Ministry of Finance in an official statement.
As per the official statement, July 31 saw the highest numbers of ITRs filed in a single day with 69.92 lakh ITRs being filed. The e-filing portal also observed its highest per hour rate of 5.07 lakh of ITR filing between 7pm and 8pm on July 31.
58.57 lakh ITRS were filed by first time filers, said the statement adding that it was a fair indication of widening of tax base.
In a historic first, ITRs (ITR-1, ITR-2, ITR-4, ITR-6) were deployed on the e-filing portal on the first day of the financial year i.e. April 1. The ITR-3 and ITR-5 were also released earlier in comparison with the preceding financial years.
Out of the 7.28 crore ITRs filed for A.Y. 2024-25, 45.77 per cent of the ITRs are ITR-1 (3.34 crore), 14.93% are ITR-2 (1.09 crore), 12.50% are ITR-3 (91.10 lakh), 25.77% are ITR-4 (1.88 crore) and 1.03% are ITR-5 to ITR-7 (7.48 lakh). Over 43.82% of these ITRs have been filed using the online ITR utility available on the e-filing portal and the balance have been filed using offline ITR utilities.
