Over 6.77 crore Income Tax Returns filed for FY22-23

Over 6.77 crore Income Tax Returns filed for FY22-23

Over 6.77 crore Income Tax Returns filed for FY 22-23: The Income-tax Department appreciates the taxpayers and tax professionals for making compliance’s in time, leading to a surge in filing of Income-tax Returns (ITRs), resulting in a new record of ITRs filed. The total number of ITRs for AY 2023-24 filed till 31st July, 2023 are more than 6.77 crore, which is 16.1% more than the total ITRs for AY 2022-23 (5.83 crore) filed till 31st July 2022.

Read Also: Income Tax Refund in 12 hours: ITR processing time reduced

The filing of ITRs peaked on 31st July, 2023 (due date for salaried taxpayers and other non-tax audit cases) with over 64.33 lakh ITRs being filed on a single day i.e. on 31st July, 2023. The e-filing portal also observed its highest per hour rate of 4,96,559 of ITR filing between 5 PM to 6 PM on 31st July, 2023, with highest per second rate of ITR filing of 486 (31-Jul-2023: 16:35:06) and highest per minute rate of ITR filing of 8,622 (31-Jul-2023: 17:54).

The Department also received 53.67 lakh ITRs till 31st July, 2023 from first time filers, a fair indication of widening of tax base.

Read Also: HUF ITR Filing: 8.75 lakh HUFs claimed tax deductions in FY 2022-23

Campaigns on Social-media along with targeted e-mail and SMS campaigns were launched to encourage the taxpayers to file their ITRs early. Such concerted efforts led to fruitful results with taxpayers filing their ITRs for AY 2023-24 relatively earlier compared to the corresponding period of the preceding year.

The following data corroborates the same:

ITR filing milestone AY 2022-23 AY 2023-24
1 crore 8th   July 2022 26th June 2023
2 crore 20th July 2022 11th July 2023
3 crore 25th July 2022 18th July 2023
4 crore 28th July 2022 24th July 2023
5 crore 30th July 2022 27th July 2023
5.83 crore 31st July 2022 30th July 2023
6 crore        — 30th July 2023
6.77 crore        — 31st  July 2023

Out of the 6.77 crore ITRs filed for AY 2023-24, 49.18% of ITRs are ITR-1 (3.33 crore), 11.97% are ITR-2 (81.12 lakh), 11.13% are ITR-3 (75.40 lakh), 26.77% are ITR-4 (1.81 crore) and 0.94% are ITR-5 to 7 (6.40 lakh). Over 46% of these ITRs have been filed using the online ITR utility available on the e-filing portal and the balance have been filed using offline ITR utilities.

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The e-filing system effectively managed heavy traffic throughout the busiest filing season, giving taxpayers a seamless ITR filing experience. On the e-filing platform, there were more than 32 crore successful login attempts between July 1 and July 31, 2023. The number of successful logins was 2.74 crore as of July 31st, 2023.

It is encouraging to learn that a significant portion of taxpayers did due diligence by comparing the information regarding their financial activities by looking at their Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). To make filing ITR-1, 2, 3, and 4 even easier for taxpayers, a significant percentage of the data was previously prepared with information on salary, interest, dividends, personal information, tax payment, including TDS-related information, brought-forward losses, MAT credit, etc. The taxpayers made heavy use of this facility, which made ITR filing easier and quicker.

Read Also: Have social media income? All you need know about income tax

The Department needs to complete the e-verification procedure using the Aadhaar OTP and other techniques in order to start processing the ITR and award refunds, if applicable. The fact that 5.63 crore returns have been electronically verified, with over 5.27 crore of those being done so (94% using an OTP based on an Aadhaar), is good. By the end of July 2023, more than 3.44 crore ITRs for the tax year 2023–24 had been processed (61% of the total).

Further, a new e-pay tax payment platform TIN 2.0 was made available on the e-filing portal, replacing the earlier Protean (NSDL) based OLTAS payment system. This enabled provision of more user-friendly options for e-payment of taxes and making available more number of  options for mode of payments such as Internet Banking, NEFT/RTGS, OTC, Debit Card, payment gateway and UPI. TIN 2.0 platform has enabled real time credit of taxes to taxpayers which made ITR filing easier and faster. Over 1.26 crore challans have been received through TIN 2.0 payment system in the month of July, 2023 itself, while total challans filed through TIN 2.0 since 1st April, 2023 stands at 3.56 crore.

Read Also: NRI can still file ITR using inoperative PAN?

In July 2023, the e-filing Helpdesk team responded to around 5 lakh taxpayer inquiries, actively assisting taxpayers during the busiest filing season. Taxpayers received assistance from the helpdesk through inbound and outbound calls, live chats, Webex meetings, and co-browsing sessions. By proactive outreach to taxpayers and stakeholders and providing them with support for various difficulties on a nearly real-time basis, the helpdesk team assisted settlement of inquiries received on the Department’s Twitter handle through Online Response Management (ORM).

The Department acknowledges the help in submitting documents on time, and it asks all taxpayers to check their ITRs within 30 days of filing. Additionally, the Department encourages taxpayers who for any reason missed the deadline to finish filing right away.

Read Also: Income Tax Refund Delayed – Is Department using AI?
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