8.18 crore income tax returns have been filed through December 31 of the current assessment year, according to information released by the Central Board of Direct Taxes on Monday. However, up till December 31, 2022, 7.51 crore income tax filings were filed in the previous year. According to a statement from CBDT, this represents a 9% increase over the total income tax return submitted for the most recent fiscal year, 2022–2023. A total of 1.60 crore audit reports and other forms were filled out during the reporting period, compared to 1.43 crore during the same period in 2022–2023 last year, according to CBDT.
The quantity of income tax returns grew.
CBDT commended taxpayers for their timely tax payments. In addition, there have been more income tax returns filed. Up till December 21, 8.18 crore Income Tax Returns (ITR) for the assessment year 2023–24 were filed. In contrast, 7.51 crore ITRs were submitted between December 31, 2022, and last year. It stated that the majority of the data, including that about salary, interest, dividends, personal information, and Tax Deducted at Source (TDS), was pre-filled to facilitate compliance for taxpayers. There have been reports that extensive use was made of this facility. As a result, filing an ITR was simple and quick.
Making payments online has gotten simpler.
In addition, the OLTAS (Online Tax Accounting System) payment system has been completely replaced by the ITN-2 digital e-pay tax payment platform during this fiscal year on the e-filing portal. According to CBDT, this has made it simpler for taxpayers to pay their taxes electronically. By allowing taxpayers to deposit taxes in real-time, the TIN-2 platform has sped up and simplified the ITR filing process.
In addition,
the tax agency started a significant public relations campaign to motivate people to submit their ITRs and other paperwork on time. People were urged to do this by sending emails, SMS, and other forms of timely ITR completion. According to CBDT, the income tax has increased by a percentage for all of these reasons returns on an annual basis till December 31, 2023-24.
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