ITR filing 2023: Major highlights you must know

Last month marked a significant milestone for both Indian taxpayers and the Finance Department.

On Tuesday, the Ministry of Finance announced that a new record has been achieved with over 6.77 crore Income Tax Returns (ITRs) filed by July 31, 2023, showing an impressive growth of 16.1% compared to the previous year.

The Income Tax Department expressed its appreciation to the taxpayers and tax professionals for their timely compliance, which resulted in a surge in the filing of Income-tax Returns (ITRs) and led to this new record of ITRs filed.

Income-tax Department appreciates taxpayers and tax professionals for making compliances in time, leading to a record surge in filing of Income-tax Returns (ITRs).

Here are some highlights:
👉More than 6.77 crore ITRs for AY 2023-24 filed till 31st July, 2023, 16.1% more than… pic.twitter.com/W7cG5ita8B

— Income Tax India (@IncomeTaxIndia) August 1, 2023

In more detail, the total number of ITRs filed for Assessment Year (AY) 2023-24 by July 31, 2023, exceeded 6.77 crore, showcasing a remarkable 16.1% increase over the total ITRs filed for AY 2022-23 (5.83 crore) by the same date in 2022.

To share this achievement on social media, the official handle of Income Tax India on Twitter acknowledged and appreciated taxpayers and tax professionals for their efforts in timely compliance, which contributed to the record surge in filing Income-tax Returns (ITRs).

Some notable highlights from this remarkable accomplishment include:

1. Over 6.77 crore ITRs for AY 2023-24 were filed by July 31, 2023, marking a 16.1% growth compared to the previous year's filings during the same period.
2. On a single day, i.e., on July 31, 2023, a staggering 64.33 lakh ITRs were filed.
3. Approximately 53.67 lakh ITRs were filed by first-time filers, indicating a positive trend of expanding the tax base.
4. Out of the e-verified ITRs, 5.63 crore returns were successfully processed, accounting for 61% of the total e-verified ITRs, all completed by July 31, 2023.
5. The e-filing portal witnessed over 32 crore successful logins from July 1 to July 31, 2023, with 2.74 crore successful logins on July 31 alone.
6. Over 1.26 crore challans were received through the TIN 2.0 payment system in July, reflecting an active payment process.
7. The e-filing Helpdesk efficiently handled more than 5 lakh queries in July, providing excellent support to taxpayers.