ITR filing record: Before last date, 53 lakh new taxpayers filed Income Tax Return for AY 2023-24

financialexpress.com:

Before the last date to file ITR without any penalty, more than 53 lakh new taxpayers filed their Income Tax Returns for AY 2023-24, according to data shared by the Income Tax Department.

The Department received 53.67 lakh ITRs till 31st July, 2023 from first-time filers, a fair indication of widening of tax base, it said.

July 31 was the due date of ITR filing for salaried taxpayers and other non-audit cases. The Income Tax Department said it appreciates the taxpayers and tax professionals for making compliance in time, leading to a surge in the filing of Income-tax Returns (ITRs), resulting in a new record of ITRs filed.

The total number of ITRs for AY 2023-24 filed till 31st July, 2023 are more than 6.77 crore, which was 16.1% more than the total ITRs for AY 2022-23 (5.83 crore) filed till 31st July 2022.

The filing of ITRs peaked on 31st July, 2023 with over 64.33 lakh ITRs being filed on a single day i.e. on 31st July, 2023.

The Income Tax e-filing portal also observed its highest per hour rate of 4,96,559 of ITR filing between 5 PM to 6 PM on 31st July, 2023, with highest per second rate of ITR filing of 486 (31-Jul-2023: 16:35:06) and highest per minute rate of ITR filing of 8,622 (31-Jul-2023: 17:54).

Also Read: Belated ITR Filing AY 2023-24: Last Date, Fees, Penalty for Late Income Tax Return FY 2022-23

The IT department said that concerted efforts led to fruitful results with taxpayers filing their ITRs for AY 2023-24 relatively earlier compared to the corresponding period of the preceding year.

Out of the 6.77 crore ITRs filed for AY 2023-24, 49.18% of ITRs were ITR-1 (3.33 crore), 11.97% were ITR-2 (81.12 lakh), 11.13% were ITR-3 (75.40 lakh), 26.77% were ITR-4 (1.81 crore) and 0.94% were ITR-5 to 7 (6.40