ITR Filings Jump 16% To Record 6.77 Crore For AY 2023-24 Until July 31: Income Tax Department

This figure marks a 16.1 per cent increase in ITR compared to the total ITRs filed for the assessment year 2022-23 till the same date(5.83 crore).

A record 6.77 crore income tax returns were filed for the assessment year 2023-24, with 53.67 lakh first-time taxpayers filing their returns till July 31, 2023, the income tax department said on Monday. This figure marks a 16.1 per cent increase in ITR compared to the total ITRs filed for the assessment year 2022-23 till the same date(5.83 crore).

"The total number of ITRs for AY 2023-24 filed till 31st July 2023 are more than 6.77 crore, which is 16.1 per cent more than the total ITRs for AY 2022-23 (5.83 crore) filed till 31st July 2022," the income tax department said in a statement. 

The I-T department said that the peak filing day was July 31, 2023, with over 64.33 lakh ITRs filed on that day alone. The department also highlighted that the increasing number of first-time filers reflects a noteworthy widening of the tax base. The department also received 53.67 lakh ITRs till July 31, 2023, from first-time filers, a fair indication of the widening of the tax base, the department added. 

"The e-filing portal also observed its highest per hour rate of 4,96,559 of ITR filings between 5 PM to 6 PM on July 31, 2023, with highest per second rate of ITR filing of 486 (at 16:35:06 hours on that day) and highest per minute rate of ITR filing of 8,622 (at 17:54 hours)", the taxation body said in a release.

The I-T department said that out of the total 6.77 crore ITRs filed for AY24, approximately 49.18 per cent were submitted through ITR-1 forms, used by resident individuals with a total income of up to Rs 50 lakh from salaries.

ITR-2 forms, which are utilised by resident individuals and HUFs with income over Rs 50 lakh, accounted for 11.97 per cent of all filings. Meanwhile, ITR-3, which is utilised by individuals or HUFs reporting income under the earnings or gains of business or profession category, accounted for 11.13 per cent of all filings.

ITR-4, a simplified tax return form for individuals and HUFs earning up to Rs 50 lakh, was used by 26.7 per cent of filers, and ITR-5, employed by firms such as Body of Individuals or Limited Liability Partnerships (LLPs), accounted for 0.94 per cent of the total filings, as per the release.

Approximately 46 per cent of the total ITRs were filed online using the e-filing portal, while the rest were filed using offline ITR utilities, according to the I-T department. During July, there were more than 32 crore successful logins, with 2.74 crore logins recorded on the last date.