The Ministry of Finance on Thursday shared some key highlights of ITR Filing on social media platform X. Using the hashtags #ViksitBharat and #FinMinReview2023, the ministry shared the results of some of the key initiatives and announcements taken this year.
Here are some highlights of ITR Filing shared by Finance Ministry.
ITR Filing 2023: Achievements
7.97 crore ITRs filed for all AYs till November 30, 2023
7.76 crore ITRs filed for A.Y. 2023 -24 till November 30, 2023
Highest filing of ITRs in one day - 64.33 lakh ITRs filed on 31st July,2023
Maximum ITRs filed in a month - 5.5 crore ITRs filed in July,2023
ITR filing per second: 486 - At 4:35 pm on July 31, 2023
ITR filing per minute: 8,622 at 5:54 pm on July 31, 2023
ITR filing per hour: 4,96,559 between 5 pm to 6 pm on July 31, 2023.
ITR Filing 2023: Speedy Refunds!
Here's the status of refunds:
Refunds amounting to Rs 2.03 lakh crore issued between April 1,2023 to November 30, 2023.
Special initiative was taken in the case of 35 lakh refund failed cases of all AYs and the refund was issued to the validated bank account.
Enablement of TlN 2.0 resulted in quick issue of refunds. More than 3 crore refunds have been credited using TIN 2.0 with an error rate of 0.002%.
Highest number of refunds issued in a single day is 14 lakh.
ITR Filing 2023: Updated Returns
The updated Returns facility was introduced by Finance Act, 2022 to facilitate taxpayers to update their returns within two years from the end of the relevant assessment year, subject to prescribed conditions
Upto November 30,2023, over 44.76 lakh updated returns have been filed resulting in additional tax collection of over Rs 4000 crore.
Direct Tax collections
Steady growth was seen in the direct tax collections:
Gross collections in FY 2023-24,at Rs.12.67 lakh crore are 17.7% higher than the gross collections for the corresponding period of the preceding year.
Net collections in FY 2023-24,at Rs.10.64 lakh crore are 23.4% higher than the net collections for the corresponding period of the preceding year.
58.34% of Budget Estimates for FY.2023-24 already achieved.
RECOMMENDED FOR YOU
Government To Exceed Tax Target; Revised Return Deadline Set For Dec 31
Nov 18, 2024
Failure To Disclose Foreign Assets, Income Can Attract Rs 10-Lakh Penalty: Tax Department
Nov 17, 2024
Middle-Class Tax Burden Reduces As Those Earning Above Rs 50 Lakh Pay More
Nov 13, 2024
Q2 Results Updates: Cummins Profit Rises 37%; NHPC Profit Misses Estimates
Nov 07, 2024
POPULAR