income tax returns – The News Desk

Income-tax (I-T) filings for the assessment year (AY) 2023-24 have hit a record high, exceeding 67.7 million. This figure represents a 16.1 per cent increase compared to the total tax returns filed during the previous assessment year, according to an announcement by the revenue department on Tuesday. For AY23, the department received 58.3 million returns. It emphasised that the 5.37 million income-tax returns (ITRs) received from new taxpayers signify a “widening of the tax base.” On 31 July, the final day for filing, the number of ITRs peaked with over 6.433 million ITRs submitted in a single day, the I-T department reported. According to the department, various campaigns on social media, coupled with targeted email and SMS initiatives, aided taxpayers in submitting ...

NEW DELHI: More than four crore income tax returns (ITRs) for the 2022-23 financial year have been filed so far and about 7 per cent of these are new or first-time filers, CBDT chairperson Nitin Gupta said on Monday.He said that more than half of these ITRs have been processed leading to 80 lakh refunds till now.The "shortage of manpower at every level was impeding our efforts to give even better results", Gupta said and urged Union Finance Minister Nirmala Sitharaman for a "quick approval" of the department's cadre restructuring proposal.The chairperson was speaking at an event held here to mark the 164th Income Tax Day where Sitharaman was the chief guest. The Central Board of Direct Taxes (CBDT) is the administrative authority for the Income Tax Department.Gupta said direct tax collect...

Tag: income tax returns

Tax filing for AY24 touches all-time high, surpasses 67.7 million

Over 4 crore ITRs filed for FY23 so far, 7% new filers this time: CBDT chief