6.7 Crore ITR Filings
The Income Tax Department on Tuesday announced that in the assessment year 2023-24, the number of Income Tax Returns filed touched all-time high of more than 6.77 crore ITR Filings which is 16% higher than total ITRs filed during the previous assessment year during 5.83 crore returns were filed. The department said that it received 53.67 lakh ITRs from the first time filers which indicates the increase in tax base.
The ITRs filing touched peak on the last day of the filing which was 31 July with over 64.33 lakh ITRs being filed on a single day, the Income Tax Department said.
6.7 Crore ITR Filings
Social media campaigns helped
“Campaigns on Social media along with targeted e-mail and SMS campaigns were launched to encourage the taxpayers to file their ITRs early. Such concerted efforts led to fruitful results with taxpayers filing their ITRs for AY 2023-24 relatively earlier compared to the corresponding period of the preceding year,” the department said in the release.
The income tax department said that out of the 6.77 crore ITRs filed for AY 2023-24, 49.18% of ITRs are ITR-1 (3.33 crore), 11.97% are ITR-2 (81.12 lakh), 11.13% are ITR-3 (75.40 lakh), 26.77% are ITR-4 (1.81 crore) and 0.94% are ITR-5 to 7 (6.40 lakh).
It added that more than 46% of these returns were filed using the online ITR utility available on the e-filing portal and the balance have been filed using offline ITR utilities.
Importance of e-verification
The department emphasized on the importance of e-verification through Aadhaar OTP and other methods for the processing of the ITR and to issue refunds. “It is encouraging to note that 5.63 crore returns have been e-verified, out of which more than 5.27 crore are through Aadhaar based OTP (94%). Of the e-verified ITRs, more than 3.44 crore ITRs for AY 2023-24 have been processed (61%) by 31st July, 2023,” the department said.
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