Big Announcement of Income Tax Department at last moment; New Update for ITR Filers

Income Tax Return Filing 2023: It is pointless to wait for an extension of the due date for filing the Income Tax Return for the financial year 2022-23. A record number of taxpayers have already filed their returns for the AY 2023-24.

In recent weeks, the government also made clear that it is not considering extending the July 31 deadline for taxpayers whose accounts are closed or are not scheduled to be audited.

In this case, if you have not yet filed your ITR, you should do it as soon as possible to prevent any tax complications in the future. Simultaneously, crores of people have submitted their income tax returns. The total number of returns submitted thus far indicates that taxpayers should not wait for an extension.

Crores of ITR filed

The deadline for reporting ITRs this year is July 31st. There are still three days till the 31st of July comes to an end. As a result, taxpayers who have not yet submitted their taxes should do so immediately. According to data from the Income Tax e-filing Portal, taxpayers have filed over 5 crore ITRs thus far.

The Income Tax Department tweeted, “We express our gratitude to taxpayers and tax professionals for helping us reach the target of 5 crore Income Tax Returns (ITRs) 3 days earlier this year than last year! Over 5 crore ITRs have been filed for AY 2023-24 till 27 July this year as compared to 30 July last year.”

As per the IT Department, “Out of the 5.03 crore ITRs filed till 27th July, 2023, about 4.46 crore ITRs have been e-verified i.e. more than 88% ITRs filed have been e-verified!. Out of the e-verified ITRs, more than 2.69 crore ITRs have already been processed!”