The central government anticipates a total of Rs 33.61 lakh crore in gross tax receipts for the current fiscal year.
The Revenue Secretary, Sanjay Malhotra, has urged tax payers to promptly file their returns since the Finance ministry has no plans to extend the deadline beyond July 31.
According to the report, around 5.83 crore income tax returns were submitted by the deadline of July 31 last year, marking the conclusion of the filing period for the assessment year 2022-23.
In an interview with PTI, he expressed optimism that the number of filings this year will surpass the previous year.
He stated, "We expect the filing rate to exceed last year's figures... we are hopeful for an increase compared to the previous year."
In the previous year, by the deadline of July 31, a notable figure of around 5.83 crore income tax returns were submitted, denoting the culmination of the filing period for the assessment year 2022-23.
Expressing gratitude to income tax return filers, he emphasised the need to file returns promptly and not rely on any deadline extensions.
He recommended, "We would like to extend our gratitude to individuals filing income tax returns as the rate of ITR submission has shown a remarkable increase compared to the previous year. We encourage them to avoid delaying until the final moment and instead file their tax returns promptly, considering the imminent approach of the July 31 deadline."
Regarding the tax mobilisation target, Malhotra mentioned that it aligns closely with the targeted growth rate of 10.5 percent.
In terms of the Goods and Services Tax (GST), the growth rate stands at 12 percent thus far, he added.