In reality, a record 6.77 crore Income Tax Returns (ITR) for the assessment year 2023–24 were submitted through July 31. 53.67 lakh of them have submitted their first-ever tax returns. The Income Tax Department has provided this information. More than 6.77 crore ITRs for the assessment year 2023–24 have been submitted as of July 31. This figure is 16.1% more than the 5.83 crore returns filed over the same period last year, according to a statement from the Income Tax Department.
Financial statement
Salaried taxpayers had until July 31 to submit their ITR, according to the Income Tax Department. In addition, taxpayers who do not require an audit of their 2022–23 income can still file their taxes by this deadline. The agency had previously stated that it would not postpone the ITR submission date. On July 31, the final day of the deadline, more than 64.33 lakh returns were filed as a result.
More than 53.67 lakh persons submitted their first ITR this time.
According to the income tax department. This is thought to be a blatant sign that the tax base is growing. However, the deadline for filing income tax returns for income received in the fiscal year 2022–2023 is October 31 for businesses and individuals who must have their accounts audited. According to the Income Tax Department, 3.44 crore, or 61%, of the total returns filed up until July 31 have been electronically validated.
Filing income taxes
To assist taxpayers with issues and other aspects of filing returns, the Income Tax Department also established an e-filing desk. 49.18% of the entire 6.77 crore returns submitted for the assessment year 2023–24 were ITR-1s, and 11.97% were ITR-2s. ITR-3 had a share of 11.13 percent, ITR-4 had a share of 26.77 percent, and ITR-5 had a share of 0.94 percent. While the remaining returns were filed offline, more than 46% of returns were submitted online via the e-filing system. People are also applauding the filing of a record ITR at the same time.
Read More: In August, banks will be closed for 14 days! see the full list
|
|
 YouTube |
Click Here |
| Facebook Page |
Click Here |
| Instagram |
Click Here |
| Telegram Channel |
Click Here |
 for the assessment year 2023–24 were submitted through July 31.){kind=link}