income tax returns by companies by one month till November 30. Also Read: Centre's direct tax collections jump 23.5% to ₹8.65 lakh crore, advance tax collections up by 20.7% Other than this, the due date for furnishing audit reports by companies who need to get their accounts audited has been extended by one month till October 31. "The due date of furnishing of Return of Income in Form ITR-7 for Assessment Year 2023-24, which is 31.10.2023 is extended to 30.11.2023," the finance ministry said in a statement.
Also Read: Windfall tax on crude oil raised to ₹10,000 per tonne Talking about ITRs filed by income tax paying individuals, India broke all its record in FY 23-24. A record 6.77 crore income tax returns for the assessment year 2023-24 were filed till July 31, including 53.67 lakh first-time filers. "The total number of ITRs for AY 2023-24 filed till 31st July 2023 are more than 6.77 crore, which is 16.1 per cent more than the total ITRs for AY 2022-23 (5.83 crore) filed till 31st July 2022," the income tax department said in a statement.
Also Read: Windfall tax on crude oil hiked to ₹10,000 per tonne, export duty on ATF reduced to ₹3.5/litre At the time when deadline for filing income tax returns was about to pass, there were speculations that it will be extended by the government. But the deadline was not extended. The filing of ITRs peaked on July 31, 2023, with over 64.33 lakh ITRs being filed on a single day.Read more on livemint.com