Income Tax reached a significant milestone by receiving over 4 crore Income Tax Returns (ITRs) for Assessment Year (AY) 2023-24. The Income Tax department expresses its heartfelt gratitude to taxpayers and tax professionals for their valuable support and cooperation in achieving this feat.
The enthusiasm and promptness of taxpayers have been remarkable, as the 4 crore ITRs were filed four days earlier than the previous year. The timely submission of ITRs reflects the taxpayers’ commitment to fulfilling their civic responsibilities and complying with tax regulations.
Of the total 4.22 crore ITRs filed until 24th July 2023, an impressive 3.81 crore ITRs have been e-verified. This indicates the growing trend of taxpayers embracing digital methods for tax compliance, making the process faster and more efficient.
The Income Tax department has been proactive in processing the e-verified ITRs, with over 2.27 crore ITRs already processed. This highlights the department’s commitment to providing timely processing and reducing the turnaround time for taxpayers.
In light of the remarkable progress, Income Tax urges all individuals who have not yet filed their ITRs for AY 2023-24 to do so at the earliest. Filing taxes in a timely manner helps in avoiding last-minute rushes and ensures a smoother experience for both taxpayers and the tax department.
Filing ITRs promptly is essential for individuals to comply with tax regulations and contribute to the nation’s development. By filing taxes on time, taxpayers play a vital role in building a robust and stable economy.
The Income Tax department continues to facilitate and support taxpayers throughout the tax-filing process. Various digital initiatives and taxpayer-friendly measures have been introduced to make the process more accessible and convenient.
