Income Tax Return (ITR) filings for this evaluation yr crossed a record 7.65 crore by October 31, about 11.7% increased than the 6.85 crore returns filed by November 7 final yr, the Income Tax Department mentioned on Wednesday.
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Income Tax Return (ITR) filings for this evaluation yr crossed a record 7.65 crore by October 31, about 11.7% increased than the 6.85 crore returns filed by November 7 final yr, the Income Tax Department mentioned on Wednesday.
Moreover, the entire ITRs filed thus far on this monetary yr, for all evaluation years, additionally hit an all-time excessive of seven.85 crore, in contrast with a complete of seven.78 crore ITRs filed in all of 2022-23.
October 31 was the deadline for taxpayers whose accounts are required to be audited and who would not have any worldwide or specified home transactions. Some essential statutory types even have to be filed by the identical date, and greater than 1.44 crore such types had been filed by Tuesday, the division mentioned.
By July 31, which was the submitting deadline for many taxpayers, whole ITRs filed this yr had touched a excessive of 6.77 crore, reflecting a 16.1% improve, with 53.67 lakh taxpayers submitting returns for the primary time.
The IT division mentioned a lot of the returns filed had been verified and processed already. “Out of the 7.65 crore ITRs filed for Assessment Year 2023-24, more than 7.51 crore ITRs have already been verified.,” the division mentioned. “Out of the 7.51 crore verified ITRs, 7.19 crore [or almost 96%] have already been processed” until October 31, it added.
