ITR Filings: Over 7 Crore Income Tax Returns Filed By Deadline, Says I-T Dept

ITR Filings: For AY 2023-24, corresponding to the fiscal year 2022-23, over 6.77 crore ITRs were filed by July 31, 2023, with more than 64.33 lakh returns submitted on the last day

ITR filings: The taxation landscape experienced a major transformation as about 6 crore income tax returns were filed for the 2023-24 fiscal year.

Source : ABPLIVE AI

ITR Filings: As of 7 pm on Wednesday, more than 7 crore income tax returns (ITRs) have been filed, marking the last day for filing ITRs for income earned in the 2023-24 fiscal year. The Income Tax (I-T) Department announced this milestone on X, stating, "More than 7 crore ITRs have been filed so far (31st July), out of which over 50 lakh ITRs have been filed today till 7 pm!"

July 31 is the final date for filing income tax returns for taxpayers who are not required to have their accounts audited. For the assessment year (AY) 2023-24, corresponding to the fiscal year 2022-23, over 6.77 crore ITRs were filed by July 31, 2023, with more than 64.33 lakh returns submitted on the last day.

More than 7 crore ITRs have been filed so far (31st July), out of which over 50 lakh ITRs have been filed today till 7 pm!

To assist taxpayers for ITR filing, tax payment and other related services, our helpdesk is functioning on a 24x7 basis, and we are providing support… pic.twitter.com/92z0rjSA13

— Income Tax India (@IncomeTaxIndia) July 31, 2024

To assist taxpayers in filing their returns, paying taxes, and accessing related services, the Income Tax Department has been operating its helpdesk 24x7. Support has been provided through calls, live chats, WebEx sessions, and social media platforms such as Twitter/X.

The taxation landscape experienced a major transformation as about 6 crore income tax returns were filed for the 2023-24 fiscal year. Revenue Secretary Sanjay Malhotra has announced that most taxpayers had transitioned to the new tax regime.

Despite the high number of filings, many taxpayers have reported issues with OTP verification failures and multiple submission attempts. In light of these challenges, the All-India Federation of Tax Practitioners (AIFTP) has urged the Central Board of Direct Taxes (CBDT) to extend the ITR filing deadline for the assessment year 2024-25 to August 31. Similar requests for an extension have been made by the All Gujarat Federation of Tax Consultants and the Income Tax Bar Association.