The Finance Ministry reported 8.18 crore tax returns in 2023-2024, 9% more than in 2022-23. The Income-Tax Department praised taxpayers and tax professionals for fast compliance, boosting filings.
The Ministry of Finance announced a record 8.18 crore tax returns for the Assessment Year (AY) 2023-2024 on Monday (January 1), up from 7.51 crore ITRs on December 31, 2022.
This is 9% more than 2022-23 ITRs.
According to the Ministry, 1.60 crore audit reports and other forms were filed, up from 1.43 crore last year.
The IT Department praised taxpayers: “The Income-Tax Department thanks taxpayers and tax professionals for timely compliance, which has resulted to a record 8.18 crore ITRs for the AY 2023-2024 filed up to 31.12.2023, up from 7.51 crore in 2022.”
A lot of taxpayers compared financial transaction data on their AIS and Taxpayer Information Summary, which is good.
It added a large amount of all ITR data was prefilled with salary, interest, dividend, personal information, tax payment including TDS-related information, carried forward losses, MAT credit, etc. to simplify taxpayer compliance. “The facility was used extensively, resulting in smoother and faster filing of ITRs,” noted.
Electronic tax payment platform
TIN 2.0, a digital e-pay tax payment platform, replaced OLTAS on the e-filing portal in 2023–2024.
This made tax e-payment easy via Internet Banking, NEFT/RTGS, OTC, Debit Card, payment gateway, and UPI. TIN 2.0 allows taxpayers to receive real-time tax credits, making ITR filing easier and faster.
Targeted email, SMS, and other creative initiatives reached over 103.5 crore taxpayers to urge early ITR and Form filing. Such collaboration resulted in 9% additional ITRs for AY 2023-24 by December 31, 2023. Up to December 31, 2023, the e-filing Helpdesk personnel responded to 27.37 lakh taxpayer queries, supporting them throughout busy filing periods.
Taxpayers received helpdesk support via inbound, outbound, live chat, WebEx, and co-browsing. Through Online Response Management (ORM), the Helpdesk team proactively reached out to taxpayers and stakeholders on the Department’s X(Twitter) handle to resolve queries in near real time “.
To avoid penalties, the IT Department asks taxpayers to validate unverified ITRs within 30 days of filing.
Conclusion
AY 2023-2024 saw a record 8.18 crore tax returns filed by the Indian government, up from 7.51 crore on December 31, 2022. This is 9% greater than 2022-23 income tax returns. The Finance Ministry commended taxpayers and tax professionals for timely compliance, which boosts ITR filings. Income-Tax Department thanks taxpayers and tax professionals for timely compliance, resulting in 8.18 crore ITRs filed up to 31.12.2023. Digital e-pay tax payment platform TIN 2.0 is fully functional on the e-filing system, offering user-friendly tax payment alternatives. Over 103.5 crore outreaches encouraged taxpayers to submit ITRs and Forms early, resulting in 9% more ITRs for AY 2023-24 until December 31, 2023.
