News

Published: January 2, 2024
Updated: January 2, 2024

Record-Breaking Start: 81.8 Million ITRs Filed, Uplifting 9% in AY 2023-24

Encouraging Early Filings: Over 1.03 Billion Outreach Initiatives

In a remarkable surge, a record 81.8 million income tax returns (ITRs) have been filed until December 31 for the assessment year 2023-24, showcasing a substantial 9% increase from the previous year's 75.1 million filings. The proactive measures taken to encourage early filings have evidently borne fruit, with over 1.03 billion targeted outreaches.

Addressing Revenue Concerns: A Noteworthy Turnaround

Historical Trends: From Concerns to A significant Turnaround

The historically low number of ITR filings, a source of concern for revenue authorities, has witnessed a significant turnaround. Compared to 58.7 million returns in the assessment year 2018-19, the figures rose to 66.9 million the following year. Despite the challenges of the Covid-hit 2020-21, a resilient recovery led to 67.5 million filings in 2021-22.

Efficient Compliance: Streamlined Processes and Digital Initiatives

Prefilled Data: Simplifying Taxpayer Compliance

The statement by the ministry highlights the efficiency brought in by prefilled data, covering salary, interest, dividend, personal information, and more. This prefilled data approach significantly eased compliance, contributing to the smoother and faster filing of ITRs.

TIN 2.0: Revolutionizing Tax Payments

The introduction of TIN 2.0, a fully functional digital e-pay tax payment platform, has replaced the OLTAS system. This transition has enabled user-friendly options for tax payments, including internet banking, NEFT/RTGS, OTC, debit card, payment gateway, and UPI. Real-time crediting of taxes to taxpayers has further enhanced the speed and convenience of ITR filing.

Proactive Helpdesk Support: Handling 2.74 Million Queries

Responsive Assistance: Aiding Taxpayers Proactively

The e-filing helpdesk team has played a pivotal role, handling approximately 2.74 million queries from taxpayers until December 31. Through inbound calls, outbound calls, live chats, WebEx, and co-browsing sessions, the helpdesk team has provided comprehensive support. The team's engagement extends to resolving queries received on the department's Twitter handle through Online Response Management (ORM), ensuring near real-time assistance.

A Positive Outlook for Fiscal Compliance

The surge in ITR filings, coupled with streamlined processes and digital initiatives, marks a positive beginning for fiscal compliance in the current assessment year. The concerted efforts to encourage early filings and the responsive helpdesk support underscore a commitment to facilitating a seamless tax filing experience for taxpayers.