5.83 crore tax returns filed till July 31, record 72.42 lakh in last day

While tax filing (ITR) was initially slow, the pace picked up as the deadline approached

While tax filing (ITR) was initially slow, the pace picked up as the deadline approached

A record 72.42 lakh tax returns were filed on the last day of such filing on July 31, bringing cumulative returns to 5.83 crore, close to the same levels as last year.

While tax filing (ITR) was initially slow, the pace picked up as the deadline approached.

“The surge of RTI filings peaked on July 31, 2022 (due date for salaried taxpayers and other non-tax audit cases) with over 72.42 lakh of RTI filed in a single day,” an official statement read. .

The total ITRs filed through July 31, 2022 for the 22-23 valuation year is around 5.83 crores, he said.

In the last financial year (2020-21), approximately 5.89 crore of RTI (tax returns) were filed before the extended due date of December 31, 2021.

Typically, filers wait until the last day to file their returns.

Over the past two fiscal years, the government has extended the deadline for filing ITRs to facilitate compliance for taxpayers struggling with the Covid pandemic. But this year, the deadline was not extended even by one day.

Through ITR, a person is supposed to submit to the Income Tax Department information about income and taxes due and paid on it during the year.

The Department of Income Tax has prescribed seven types of ITR forms, the applicability of which will depend on the nature and amount of income and the type of taxpayer.

The new Tax Department tax filing portal is now very robust to support the increased loads.

“The e-filing portal also established other benchmarks on July 31, 2022, including – highest ITR deposit rate per second: 570 (at 4:29:30 p.m.), highest ITR deposit rate per minute high: 9,573 (at 7:44 p.m.), and the highest hourly ITR deposit rate: 5,17,030, between 5 p.m. and 6 p.m.,” the statement read.

The initial pace of e-filing was relatively much slower, with the first 1 crore ITRs for AY 22-23 not being filed until July 7. The pace picked up slightly, with around 2.48 crore ITR deposited as of July 22.

“With the government announcing that there would be no extension of the due date, there has been an increase in the deposit of ITRs and as of July 25, 2022, 3 crore ITRs had been deposited. By the end of the day of July 31, 2022, 72.42 lakh ITR were deposited, breaking all previous records (the maximum was 49 lakh ITR in 2019).In the month of July 2022 alone, more than 5.13 crore ITR were deposited. filed,” he said.

Out of 5.83 crore ITR deposited for AY 2022-23, 50% of them are ITR-1 (2.93 crore), 11.5% are ITR-2 (67 lakh), 10.9% are ITR- 3 (63.35 lakh) and 26% are ITR-4 (1.54 crore).

“The number of RTIs filed during working hours (9 a.m.-6 p.m.) from July 7, 2022 to July 31, 2022 is approximately 3.31 crore, or 58.77% of the total RTIs filed,” it said. he indicates.

“Over 47% of these ITRs were deposited using the online ITR form on the portal and the balance was uploaded using the ITR created from the offline software utilities.” A large number of taxpayers have done their due diligence comparing their income data by looking at their Annual Information Statement (AIS) and their Taxpayer Information Summary (TIS). A high usage rate of AIS/TIS data resulted in more than 5.03 million taxpayers viewing/downloading their AIS.

This year, much of the RTI-1 data was already pre-populated with salary, interest and dividend income, making compliance easier for taxpayers. For the other ITRs 2, 3 and 4, in addition to this data, the property details for rental income, loss carryforwards and MAT credit have also been pre-populated to further facilitate taxpayer compliance.

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