The income tax department announced on Monday that a remarkable 6.77 crore income tax returns were filed for the Assessment Year 2023-24, with 53.67 lakh being first-time payers. In comparison, July’s income tax returns witnessed a 16.1% increase from the total ITRs for Assessment Year 2022-23.
“The total number of ITRs for AY 2023-24 filed till July 31, 2023, exceeds 6.77 crore, a 16.1% increase from the total ITRs for AY 2022-23 (5.83 crore) filed till July 31, 2022,” stated the income tax department.
53.67 lakh first-time payers
A record number of ITRs were filed on July 31, 2023, with over 64.33 lakh filings on that day alone. Additionally, the department received 53.67 lakh ITRs from first-time filers by July 31, 2023, indicating a significant expansion of the tax base.
“We express our gratitude to taxpayers and tax professionals for helping us achieve this milestone, and we urge those who haven’t filed their ITR for AY 2023-24 to do so,” stated the Income Tax department.
July 31 was the last day to file ITR
It is important to note that July 31 was the deadline for salaried taxpayers and those not required to have their accounts audited for income earned in the fiscal year 2022-23 to file their income tax returns.
ALSO READ: ITR filing last date today: What to do if you miss the July 31 deadline?
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
