Demystifying the Record-Breaking Surge in Income Tax Returns

Rashmi | Last updated: 02 August 2023

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The Income-tax Department has reported a record-breaking number of income tax returns filed for the assessment year 2023-24, exceeding 6.77 crore by July 31, 2023. This represents a significant 16.1% increase from the previous year and includes a notable rise in first-time filers, expanding the taxpayer base. The article also explains various ITR statuses, such as 'Submitted and pending for e-Verification' and 'Processed,' and guides taxpayers on how to check their ITR status online via the Income Tax India website.

The Income-tax Department reported a significant increase in the number of Income-tax Returns (ITRs) filed, reaching a new record. According to a statement from the Press Information Bureau, ITRs filed for the assessment year (AY) 202324 totaled over 6.77 crore by July 31, 2023. This marks a 16.1% i

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About the Author

Rashmi

business

I am a Chartered Accountant with over 2 decades of experience in Auditing, Taxation, Accounting, Due diligence. I am currently a Managing Partner at RRL Global Services. I can be reached at rrlglobal @ yahoo.com or @ 9811757230

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Demystifying the Record-Breaking Surge in Income Tax Returns

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