ITR filings reach new record of 7.85 crore till October 31

The Income Tax Department expressed its appreciation to the taxpayers and tax professionals for their timely compliance as the number of Income Tax Returns (ITR) filed reached a new record high in 2023. As of October 31 in the fiscal year 2023-24, the total number of ITRs filed stood at 7.85 crore. 

This figure surpasses the previous year’s total of 6.85 crores for the fiscal year 2022-23, which was filed by November 7, 2022, representing an increase of 11.7%. The Income Tax Department made this announcement on Wednesday.

The IT department has made significant progress in verifying and processing a large number of ITRs until October 31, 2023. 

As of now, more than 7.51 crore ITRs have been verified, which accounts for the majority of the total filed ITRs. Additionally, out of the verified ITRs, approximately 7.19 crore have already been processed, representing nearly 96% of the verified ITRs.

It is worth mentioning that October 31 marked the deadline for submitting important statutory forms such as Form 10B, 10BB, and Form 3CEB. The total number of various types of statutory forms filed by this date exceeded 1.44 crore. The IT department proudly stated that its e-portal effectively managed the high volume of traffic during peak periods of ITR filings and submission of other forms.

The IT department stated that taxpayers were assisted by the helpdesk team through various channels such as inbound and outbound calls, live chats, Webex, and co-browsing sessions. Additionally, the team also resolved queries received on the Department’s Twitter handle through Online Response Management (ORM). To further aid taxpayers, educational videos were uploaded on the e-filing portal.