Over 8.18 crore Income Tax Returns (ITRs) filed for A.Y. 2023-2024

02 Jan 2024: The Income-tax Department has recorded a surge in the filing of Income-tax Returns (ITRs), resulting in a new record of 8.18 crore ITRs for the A.Y. 2023-2024 filed up to 31.12.2023 as against 7.51 crore ITRs filed upto 31.12.2022. This is 9% more than the ITRs filed for A.Y. 2022-23. The total number of audit reports and other forms filed during the period is 1.60 crore, as against 1.43 crore audit reports and forms filed in the corresponding period of the preceding year.

Over 8.18 crore Income Tax Returns (ITRs) filed for A.Y. 2023-2024

It is also observed that a large number of taxpayers did their due diligence by comparing data of their financial transactions by viewing their Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). A substantial portion of the data for all ITRs was prefilled with data about salary, interest, dividend, personal information, tax payment including TDS-related information, brought forward losses, MAT credit, etc to further ease compliance by taxpayers. The facility was used extensively, resulting in smoother and faster filing of ITRs. 

Further, during this FY 2023-2024, a digital e-pay tax payment platform 

Further, during this FY 2023-2024, a digital e-pay tax payment platform - TIN 2.0 was made fully functional on the e-filing portal, replacing the OLTAS payment system. This enabled user-friendly options for e-payment of taxes such as Internet Banking, NEFT/RTGS, OTC, Debit Cards, payment gateway, and UPI. TIN 2.0 platform has enabled real-time credit of taxes to taxpayers which made ITR filing easier and faster.

To encourage taxpayers to file their ITRs and Forms early, over 103.5 crore outreaches were made through targeted e-mail, SMS, and other creative campaigns. Such concerted efforts yielded fruitful results with 9% more ITRs being filed for A.Y. 2023-24 till 31.12.2023. The e-filing Helpdesk team handled approximately 27.37 lakh queries from taxpayers during the year up to 31.12.2023, supporting the taxpayers proactively during the peak filing periods. 

Support from the helpdesk was provided to taxpayers through inbound calls, outbound calls, live chats, WebEx, and co-browsing sessions. The Helpdesk team also supported the resolution of queries received on the X(Twitter) handle of the Department through Online Response Management (ORM), by proactively reaching out to the taxpayers/ stakeholders and assisting them with different issues on a near real-time basis. 

The IT Department further requests to the taxpayers to verify their unverified ITRs if any, within 30 days of filing the ITR to avoid any consequences.

1. Tax filing tips for beginners

2. Understanding tax deductions

3. Tax planning for freelancers

4. Tax credits for small businesses

5. Tax-saving investment options

6. Tax implications of remote work

7. Tax benefits for homeowners

8. Tax strategies for entrepreneurs

9. Tax advice for gig economy workers

10. Tax help for ex-pats

Citations for you:

[1] https://www.bodonews.info/2024/01/the-prime-minister-shri-narendra-modi.html

[2] https://www.bodonews.info/2023/12/global-mice-govt-is-promoting-india-as.html

[3] https://www.bodonews.info/2023/12/the-food-processing-sector-year-end.html

[4] https://www.youtube.com/watch?v=3Mt_--krYe8&t=34s

[5] https://www.youtube.com/watch?v=Dmh7docnZrE