Major Announcement from the I-T Department as ITR Filing Deadline for FY 2023-24 Approaches
As the deadline nears, taxpayers are encouraged to file their returns promptly to avoid any last-minute issues and ensure compliance with the tax regulations.
The Income Tax Department has reported a significant milestone as over 5 crore tax returns for the Assessment Year (AY) 2024-25 have been filed through its e-filing portal. This marks an 8 per cent increase from the previous year, reflecting a surge in compliance as the filing deadline approaches.
On July 26 alone, the portal received an impressive 28 lakh Income Tax Returns (ITRs), highlighting a notable uptick in last-minute submissions. This increase is attributed to the technological partnership with Infosys, which is responsible for maintaining the e-filing portal.
"More than 5 crore ITRs for AY 2024-25 have already been received on the e-filing portal of the Income Tax Department till July 26, 2024. This is 8 per cent more than the ITRs filed in the preceding year. Over 28 lakh ITRs were received on July 26 itself," the department announced on social media platform X.
Infosys has assured uninterrupted service during this peak period, with the Income Tax Department confirming their commitment to ensuring a smooth e-filing experience. "Infosys is the technology partner of ITD for operating the e-filing portal. They have been instructed to ensure uninterrupted services. Infosys has assured uninterrupted services during the e-filing peak period," the department added.
With the deadline for filing ITR for AY 2024-25 set for July 31, 2024, the department is keen to ensure that taxpayers face no hurdles in completing their filings.
During a session organized by the Institute of Chartered Accountants of India (ICAI) in New Delhi, concerns about potential glitches in the I-T portal were addressed. Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal assured attendees that the government is working closely with service providers to ensure the portal's proper functioning.
“We are engaging closely with our service providers Infosys, IBM, and Hitachi who are on the job. The volumes are high and the compliance is also good... I have been assured that the website will function properly,” Agrawal stated.
He also mentioned that the CBDT plans to simplify the I-T Act over the next six months, aiming to make the process even more user-friendly for taxpayers.
As the deadline nears, taxpayers are encouraged to file their returns promptly to avoid any last-minute issues and ensure compliance with the tax regulations.
Disclaimer: The article is for informational purposes only and not investment advice.