Income Tax department smashes records with 7.85 crore ITRs filed by October-end

In a remarkable achievement, the Income Tax Department has set a new record by receiving over 7.85 crore Income Tax Returns (ITRs) for all assessment years up to October 31, 2023. This number is a significant increase compared to the 6.85 crore ITRs filed during the same period in the previous fiscal year.

For the assessment year 2023-24 alone, more than 7.65 crore ITRs were filed by the October 31, 2023 deadline, marking an impressive 11.7% year-on-year growth. This surge in filings is a testament to increased compliance among taxpayers. The department also reported that over 7.51 crore ITRs have already been verified, and an astonishing 96% of the verified ITRs have been processed by the end of October 2023, indicating efficient handling and prompt processing of tax returns.

Additionally, more than 1.44 crore statutory forms, including Form 10B, 10BB, and Form 3CEB, were filed by the October 31 deadline, underscoring the commitment of taxpayers to meeting their statutory obligations. During the peak filing period, the e-filing portal effectively managed high traffic, providing a seamless experience for both taxpayers and tax professionals. This exceptional service was well-received and praised across various platforms, including social media.

The Income Tax Department also went the extra mile to support taxpayers, offering assistance through inbound and outbound calls, live chats, Webex, and co-browsing sessions. They proactively addressed queries received on their Twitter handle through Online Response Management (ORM), ensuring quick and efficient issue resolution.

Furthermore, eight webinars were conducted to guide taxpayers and tax professionals on topics such as filing auditable and time-barred forms, DSC registration, and more. Educational videos related to these topics were also made available on the e-filing portal for easy reference.

The Income Tax Department extends its gratitude to all taxpayers and tax professionals for their compliance and encourages those who are yet to file their forms and ITRs to do so promptly. They emphasize the importance of timely tax-related compliances and urge continued cooperation from all stakeholders.