ITR: For companies and individuals who are required to get their accounts audited, the last date for filing income tax return for income earned in the financial year 2022-23 is 31 October. The Income Tax Department said that out of the total returns filed till July 31, electronically verified 3.44 crore ITRs i.e. 61 per cent have also been processed.
Income Tax Return: Now a big update has come regarding Income Tax Return. In fact, till July 31, a record 6.77 crore Income Tax Returns (ITR) were filed for the assessment year 2023-24. Of these, 53.67 lakh people have filed returns for the first time. This information has been given by the Income Tax Department. “More than 6.77 crore ITRs have been filed till July 31 for the assessment year 2023-24. This number is 16.1 per cent higher than 5.83 crore returns filed till the same period last year,” the Income Tax Department said in a statement.
Income tax return
The Income Tax Department had given time till July 31 to salaried taxpayers to submit ITR. Apart from this, taxpayers who do not need audit of income earned in the financial year 2022-23 could also submit their returns by this date. The department had already made it clear that it will not extend the deadline for submission of ITR. In such a situation, more than 64.33 lakh returns were submitted on July 31, the last day of the deadline.
Income Tax
The Income Tax Department said that this time more than 53.67 lakh people have submitted ITR for the first time. This is believed to be a clear indication of expansion in the tax base. However, for companies and individuals who are required to get their accounts audited, the last date for filing income tax returns for income earned in the financial year 2022-23 is 31 October. The Income Tax Department said that out of the total returns filed till July 31, electronically verified 3.44 crore ITRs i.e. 61 per cent have also been processed.
Income-tax Department appreciates taxpayers and tax professionals for making compliances in time, leading to a record surge in filing of Income-tax Returns (ITRs).
Here are some highlights:
👉More than 6.77 crore ITRs for AY 2023-24 filed till 31st July, 2023, 16.1% more than… pic.twitter.com/W7cG5ita8B— Income Tax India (@IncomeTaxIndia) August 1, 2023
Income tax filing
The Income Tax Department had also set up an e-filing desk to help taxpayers with problems faced in filing returns and on other points. Of the total 6.77 crore returns filed for assessment year 2023-24, 49.18 per cent were filed as ITR-1 while 11.97 per cent were filed as ITR-2. Similarly, the share of ITR-3 was 11.13 percent, ITR-4 was 26.77 percent and ITR-5 was 0.94 percent.
e-filing
More than 46 per cent returns have been filed online through the e-filing portal of the Income Tax Department, while the remaining returns have been filed offline. At the same time, people are also cheering for the filing of record ITR.
