Team Blitz India
NEW DELHI: Income Tax Return (ITR) filings for this assessment year crossed a record 7.65 crore by October 31, about 11.7 per cent higher than the 6.85 crore returns filed by November 7 last year, according a statement issued by the Income Tax Department.
It further said that the total ITRs filed so far in this financial year, for all assessment years, also hit an all-time high of 7.85 crore, compared with a total of 7.78 crore ITRs filed in all of 2022-23.
The deadline for taxpayers whose accounts are required to be audited and who do not have any international or specified domestic transactions was October 31. Some crucial statutory forms also have to be filed by the same date, and more than 1.44 crore such forms had been filed by Tuesday, the department said.
The total ITRs filed this year had touched a high of 6.77 crore by July 31, which was the filing deadline for most taxpayers. This reflected an increase of 16.1per cent, with 53.67 lakh taxpayers filing returns for the first time.
The IT Department said most of the returns filed had been verified and processed already. “Out of the 7.65 crore ITRs filed for Assessment Year 2023- 24, more than 7.51 crore ITRs have already been verified,” it said. “Out of the 7.51 crore verified ITRs, 7.19 crore [or almost 96per cent] have already been processed” till October 31, added the department.