The Income Tax Department has reported a remarkable surge in the filing of income tax returns (ITRs) up to October 31, 2023. This date marked the deadline for filing ITRs, excluding ITR 7, for taxpayers without international or specified domestic transactions requiring audited books of account.
A total of more than 7.65 crore ITRs were filed for assessment year 2023-24 by this deadline. This number represents an impressive 11.7 percent increase compared to the 6.85 crore ITRs filed for assessment year 2022-23 by the due date of November 7, 2022, in the previous year.
Furthermore, the cumulative number of ITRs filed in 2023-24 for all assessment years up to October 31, 2023, stands at 7.85 crore, marking an all-time high compared to the 7.78 crore ITRs filed in 2022-23.
Of the 7.65 crore ITRs filed for assessment year 2023-24, over 7.51 crore have been verified. Among these verified ITRs, approximately 7.19 crore have already undergone processing as of October 31, 2023, representing a remarkable 96 percent completion rate for the verified ITRs.
(With Agency Inputs)
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