Income Tax Filing 2023: The last date to file income tax return (ITR) ended on July 31, 2023, and record numbers of ITRs have been filed for the financial year 2022-23.
The Income Tax department on July 31 said that more than 6.5 crore income tax returns for the 2022-23 fiscal have been filed so far. Of which, 36.91 lakh ITRs were submitted till Monday until 6 pm, which was the last day for filing of returns by individuals and entities that are not required to get their accounts audited.
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“Income Tax Department scales a new peak! More than 6.50 crore ITRs have been filed so far (31st July), out of which about 36.91 lakh ITRs have been filed today till 6 pm!” tweeted the IT department.
The e-filing portal has witnessed more than 1.78 crore successful logins till 6 pm, the I-T department said.
The last date for ITR filing by salaried persons and entities which are not required to get their accounts audited ended Monday at midnight.
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5.83 crore income tax returns filed last year
About 5.83 crore income tax returns were filed till July 31 last year, as per PTI report.
“To assist taxpayers with ITR filing, tax payment, and other related services, our helpdesk is functioning on a 24×7 basis, and we are providing support through calls, live chats, WebEx sessions & social media,” the department said.
“We extend our gratitude to taxpayers and tax professionals for helping us reach this milestone, and urge all those who haven’t filed ITR for AY 2023-24, to file their ITR,” it added.
Meanwhile, tax experts said that the surge in the ITR filing is a reflection of a broadening taxpayer base, improved compliance, and the efforts taken by the revenue department to check tax evasion.
It may be noted here that the income tax department has been extensively using information technology and data analytics tools to identify high-risk cases and initiate enforcement actions in appropriate cases.
It also collects information on Specified Financial Transactions (SFT), above-notified thresholds, relating to cash deposits, credit card payments, purchase and sale of properties, purchase of shares and mutual funds, etc, as per PTI report.
Such information is collected, collated, and analysed for computer-aided scrutiny and risk profiling of taxpayers, identification of non-filers and stop filers, etc, which in turn helps check evasion.
Corporates and individuals who are required to get their accounts audited have time till October 31 to file tax returns for income earned in the 2022-23 fiscal. The gross direct tax collection for the 2022-23 fiscal grew 20.33 per cent at Rs 19.68 lakh crore.
Those taxpayers who haven’t filed their ITR can do it by 31 December by paying penalty.
