Income Tax: Over 3 Crore ITRs Filed Till July 18, 7 Days Faster Than Last Year

People are filing income tax returns as compared to last year! the income tax department on Wednesday filed over 3 crore ITRs for AY 2023-24 till 18th of July this year, as compared with the same number of ITRs filed till 25th of July last year.

“Grateful to our taxpayers & tax professionals for having helped us reach the milestone of 3 crore Income Tax Returns (ITRs), 7 days early this year, compared to the preceding year!” Income Tax India said in a tweet.

Over 3 crore ITRs for AY 2023-24 have already been filed till 18th of July this year as compared to 3 crore ITRs filed till 25th of July last year.

Out of the 3.06 crore ITRs filed till 18th July, 2023, 2.81 crore ITRs have been e-verified i.e. more than 91 per cent ITRs filed have been e-verified. Out of the e-verified ITRs, more than 1.50 crore ITRs have already been processed.

“So, we hope to keep up the momentum and urge all those who haven’t filed ITR for AY 2023-24, to file their ITR at the earliest to avoid last minute rush,” I-T department said.

According to a tax practitioner, people are trying to file income tax returns this year well within the deadline as the government did not extend the ITR deadline last year. “Also, the early you file ITR, the early you get the refund. People are keeping in mind this also”

The last date to file the income tax return for assessment year 2023-24 is July 31. Last year, the deadline was not extended beyond July 31.

According to a PTI report, Revenue Secretary Sanjay Malhotra has asked income taxpayers to file their return at the earliest as the finance ministry is not contemplating extension of the July 31 deadline.

“We expect that the filing would be higher than the last year…we are hopeful that it should be more than the last year,” he said in an interview to PTI.