Income Tax Return
As per reports, a total of 7.85 Crore Income Tax Returns (ITRs) were filed in FY 23-24 for all AYs up to 31st October 2023 which is the all-time highest.
Further, more than 7.65 crore ITRs were filed (out of which more than 7.51 crore ITRs were already verified) for AY 2023-24 up to 31st October 2023 which is 11.7% higher as compared to the 6.85 crore ITRs filed for AY 2022-23 till 7th November 2022.
Another outstanding number is for those processed out of the ones verified, which stands at 7.19 crore (96%) till 31st October 2023.
Statutory Forms
1.44 crore of various types of statutory forms ( Form 10B, 10BB, and Form 3CEB) were filed up to 31st October 2023.
In a report by the Ministry of Finance, the Income Tax Department expressed its gratitude to all the taxpayers and tax professionals for their support in compliance.
The Department further urged all taxpayers and tax professionals to continue to make tax-related compliances in time.
Source: pib.gov
Kapoor Kumar & Associates (taxavk) 