The Revenue Tax Division has expressed its gratitude to taxpayers and tax professionals for making compliances in time resulting in a surge in submitting of Revenue Tax Returns (ITRs) leading to a brand new file of ITRs filed on a single day. The surge of submitting ITRs peaked on thirty first July, 2022 (due date for salaried taxpayers and different non-tax audit instances) with over 72.42 lakh ITRs being filed on a single day i.e on thirty first July,2022. The full ITRs filed until thirty first July, 2022 for AY 22-23 is about 5.83 crore. The e-filing portal additionally set different benchmarks on thirty first July, 2022 together with – highest per second price of ITR submitting: 570 (at 4:29:30 pm), highest per minute price of ITR submitting: 9573 (at 7:44 pm), and the very best per hour price of ITR submitting: 5,17,030, between 5 PM to six PM.
The preliminary tempo of e-filing was comparatively a lot slower with the primary 1 crore ITRs for AY 22-23 being filed solely by seventh July, 2022. The tempo picked up marginally, with about 2.48 crore ITRs being filed by twenty second July,2022. With the Authorities saying that there can be no extension of the due date, there was a surge in submitting of ITRs and by twenty fifth July, 2022, 3 crore ITRs had been filed. By the tip of the day on thirty first July,2022, 72.42 lakh ITRs had been filed, shattering all earlier information (most being 49 lakh ITRs in 2019). Within the month of July,2022 alone, over 5.13 crore ITRs have been filed.
Out of 5.83 crore ITRs filed for AY 2022-23, 50% of those are ITR-1 (2.93 crore), 11.5% are ITR-2 (67 lakh), 10.9% are ITR-3 (63.35 lakh), 26% are ITR-4 (1.54 crore), ITR-5 to 7 (5.5 lakh). The variety of ITRs filed throughout working hours (9 AM-6 PM) since seventh July, 2022 to thirty first July, 2022 is round 3.31 crore, which is 58.77% of the full ITRs filed. Over 47% of those ITRs have been filed utilizing the net ITR kind on the portal and the steadiness have been uploaded utilizing the ITR created from the offline software program utilities.
Giant variety of taxpayers did their due diligence by evaluating knowledge of their revenue by viewing their Annual Info Assertion (AIS) and Taxpayer Info Abstract (TIS). A excessive price of utilization of AIS/TIS knowledge was mirrored by the truth that greater than 5.03 crore taxpayers considered/downloaded their AIS.
This 12 months a big portion of the information for ITR-1 was already prefilled with wage, curiosity and dividend revenue making compliance simpler for taxpayers. For different ITRs 2, 3, 4, other than this knowledge, property particulars for rental revenue, introduced ahead losses, MAT credit score was additionally pre-filled to additional ease compliance for taxpayers.
The method of e-verification by means of Aadhaar OTP and different strategies is essential for the Division to begin processing of the ITR and to situation refunds, if any. It’s encouraging to notice that 3.96 crore returns have been e-verified, out of which greater than 3.71 crore are by means of Aadhaar based mostly OTP (94%). Of the e-verified ITRs, greater than 3.01 crore ITRs for AY 2022-23 have been processed (75%). In a number of cases, taxpayers have been getting their intimation of processing inside a couple of minutes or hours after submitting and verification of ITRs.
Additional, the brand new facility for making tax cost (TIN 2.0) has been launched on the e-filing portal with two banks- Kotak Mahindra Financial institution and Federal Financial institution. Over 73,910 challans have been acquired by means of these banks until July thirty first, 2022 totalling to Rs. 518.5 crore.
The e-filing Helpdesk group has assisted and resolved over 1.45 lakh queries this 12 months until thirty first July, 2022. Complete calls answered within the final week of July, 2022 was 1,05,800 and most calls of 18,341 had been acquired on twenty sixth July, 2022. Helpdesk group additionally supported decision of grievances acquired on the Twitter deal with of the Division by proactively reaching out to the taxpayers/ stakeholders and aiding them with any points, virtually on a real-time foundation.
The Division reiterates its gratitude for the help in well timed compliances and requests all taxpayers to e-verify their ITRs on the earliest. The Division additionally urges taxpayers, who for any purpose, missed the due date, to finish their submitting instantly.
