News

Published: April 15, 2024
Updated: April 15, 2024

Income Tax Department Launches Drive to Boost Tax Return Filings ,will include reach out to 15.2 million taxpayers

1. Drive to Track Non-Filers:

The Income Tax department is embarking on a new initiative to identify and reach out to individuals and entities who are required to file tax returns but have failed to do so or evaded taxes. The department has identified approximately 15.2 million such taxpayers who have either earned income or had tax deducted at source (TDS) but haven't filed their returns.

2. Field Officers' Outreach:

The Central Board of Direct Taxes (CBDT) has instructed its field officers to initiate contact with these non-filers starting from April 15. The aim is to encourage compliance and ensure that all eligible taxpayers fulfil their obligation to file their returns.

3. Tax Collection Targets Met:

Despite challenges, the Central government has managed to meet its tax collection targets for the fiscal year 2023-24. With over Rs 34.37 lakh crore collected, robust economic activity and improved compliance have contributed to this achievement.

4. Availability of E-filing Forms:

Last week, the Income Tax Department announced the availability of e-filing forms, including ITR-1, ITR-2, and ITR-4, for the financial year 2023-24 (Assessment Year 2024-25). Taxpayers eligible to file their returns can now access and fill these forms online via the department's portal.

5. Offline Utility Tools Released:

In addition to online forms, the Income Tax Department has also released offline Excel and JSON utilities for various ITR forms, including ITR-1, ITR-2, ITR-4, and ITR-6. These tools aim to facilitate the filing process for taxpayers who prefer offline methods.

6. Range of ITR Forms Available:

Taxpayers can choose from seven distinct types of Income Tax Return (ITR) forms, catering to different categories of individuals, businesses, and corporations. Notably, Forms ITR‐1 and ITR‐4 are designed to simplify the filing process for small to medium taxpayers.

With the launch of this new drive and the availability of user-friendly e-filing and offline tools, the Income Tax Department is striving to enhance tax compliance and streamline the filing process for taxpayers. It underscores the government's commitment to ensuring a fair and transparent tax regime while meeting revenue targets in a challenging economic environment.