58.3 million Income Tax Returns filed by July 31

Over 7.24 million ITRs, a new record, were filed on a single day — July 31, 2022 — which was the due date for salaried taxpayers and other non-tax audit

58.3 million Income Tax Returns filed by July 31
Of the 58.3 million ITRs filed for AY 2022-23, 50% are ITR-1, 11.5% are ITR-2, 10.9% are ITR-3, 26% are ITR-4, ITR-5 to 7, the Central Board of Direct Taxes said in a statement.

Income tax returns (ITRs) filed by taxpayers stood at 58.3 million for assessment year (AY) 2022-23 by the due date of July 31, nearly the same as for AY 2021-22 by the extended due date of December 31, 2021. Over 7.24 million ITRs, a new record, were filed on a single day — July 31, 2022 — which was the due date for salaried taxpayers and other non-tax audit cases.

Of the 58.3 million ITRs filed for AY 2022-23, 50% are ITR-1, 11.5% are ITR-2, 10.9% are ITR-3, 26% are ITR-4, ITR-5 to 7, the Central Board of Direct Taxes said in a statement. In AY 2021-22, 58.9 million ITRs were filed by the extended deadline of December 31.This year, a large portion of the data for ITR-1 was already prefilled with salary, interest and dividend income making compliance easier for taxpayers. For other ITRs 2, 3, 4, apart from this data, property details for rental income, brought forward losses, MAT credit was also pre-filled to further ease compliance for taxpayers.

About 39.6 million returns have been e-verified, out of which more than 37.1 million are through Aadhaar based OTP (94%). Of the e-verified ITRs, more than 30.1 million ITRs for AY 2022-23 have been processed (75%).In several instances, taxpayers have been getting their intimation of processing within a few minutes or hours after filing and verification of ITRs.

Further, the new facility for making tax payment (TIN 2.0) has been launched on the e-filing portal with two banks- Kotak Mahindra Bank and Federal Bank. Over 73,910 challans have been received through these banks till July 31st, 2022 totalling to Rs 5,18.5 crore.

The number of ITRs filed during working hours (9 AM-6 PM) since 7th July, 2022 to 31st July, 2022 is around 33.1 million, which is 58.77% of the total ITRs filed. Over 47% of these ITRs have been filed using the online ITR form on the portal and the balance have been uploaded using the ITR created from the offline software utilities.

Large number of taxpayers did their due diligence by comparing data of their income by viewing their Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). A high rate of usage of AIS/TIS data was reflected by the fact that more than 5.03 crore taxpayers viewed/downloaded their AIS.

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