Record 6.77 crore ITRs filed for FY2022-23; 53.67 lakh first-time filers

The Income Tax Department (ITD) has said that a record 6.77 crore income tax returns (ITRs) were filed for the financial year 2022-23 (AY2023-24) till July 31, 2023. This is 16.1% more than the total ITRs filed last year (5.83 crore).

Of these, 53.67 lakh people filed ITR for the first time. This is a significant increase from the previous year, when 39.25 lakh people filed ITR for the first time.

The ITD attributed the increase in the number of ITRs filed to a number of factors, including the government's efforts to simplify the ITR filing process and the introduction of new tax slabs and deductions.

The ITD also said that it had taken a number of measures to facilitate the filing of ITRs, including extending the deadline for filing ITRs by two months and providing a number of online filing options.

The ITD said that it is committed to making the ITR filing process as smooth and hassle-free as possible. It has also said that it will continue to take measures to increase the number of ITRs filed.

Here are some key takeaways from the data:

The number of ITRs filed has increased by 16.1% from last year.

The number of first-time filers has increased by 40.2% from last year.

The government's efforts to simplify the ITR filing process have been successful.

The introduction of new tax slabs and deductions has also contributed to the increase in the number of ITRs filed.

The ITD has taken a number of measures to facilitate the filing of ITRs.

The ITD is committed to making the ITR filing process as smooth and hassle-free as possible.

What does this mean for taxpayers?

The increase in the number of ITRs filed is a positive sign for taxpayers. It means that more people are aware of their tax obligations and are taking steps to comply with the law.

The ITD's efforts to simplify the ITR filing process have also made it easier for taxpayers to file their returns. This is likely to encourage even more people to file their ITRs in the future.

If you have not yet filed your ITR for AY2023-24, you should do so as soon as possible. The deadline for filing ITRs is September 30, 2023.

You can file your ITR online or offline. The ITD has a number of online filing options available, including the e-filing portal, the ITD's mobile app, and the ITD's toll-free number.

If you are filing your ITR offline, you can download the ITR form from the ITD's website or from your local ITD office.