Record-Breaking 8.18 Crore Income Tax Returns Filed in AY 2023-24

The Ministry of Finance reported a remarkable achievement with a “record high” of 8.18 crore Income Tax Returns (ITRs) filed in the assessment year (AY) 2023-24 as of December 31, 2023. This figure represents a substantial 9 percent surge compared to the previous assessment year, which saw a total of 7.51 crore ITRs filed.

In addition to the surge in ITR filings, the total number of audit reports and other forms submitted during AY 2023-24 reached 1.60 crore, surpassing the corresponding period in AY 2022-23 when 1.43 crore audit reports and forms were filed.

To facilitate the filing process, a significant portion of the data for all ITRs was pre-filled with essential information, such as salary details, interest, dividends, personal information, tax payments including TDS-related information, brought forward losses, and MAT credit. The extensive use of this pre-filled data contributed to a smoother and faster filing of ITRs.