In a sign of rising high-income taxpayers and improved compliance, the latest data released by the Income Tax Department reveals that 3.24 lakh individuals in India filed their income tax returns (ITRs) for incomes exceeding Rs 1 crore in the financial year 2024-25, ending March 31, 2025. According …
The total number of income tax returns (ITRs) filed in FY25 reached a record 83.9 million by December 31, 2024, marking a 4% increase from the previous year, according to government data. Key Trends in ITR Filings Consistent Growth: ITR filings have steadily increased over the last five years: FY20: 64.7 million FY21: 67.2 million FY22: …
72,42,156 is the highest number of ITR filing in a day on 31st July 2022 42.92% of total returns were processed within a span of 24 hours of furnishing of ITR 19 banks onboarded on online tax payment system TIN 2.0 The Government has taken a …
As the financial year 2022-23 is approaching its end, the last date to file ITR for previous years is also expiring. In this article, let’s discuss the two options to file ITR after due date of filing has expired. The two main ways to file ITR …
1. The government on Wednesday further extended the deadline to file income tax returns (ITRs) for the financial year 2019-20 (the assessment year 2020-21) for individual taxpayers by 10 days till January 10, 2021, in wake of the ongoing Covid-19 pandemic. In a tweet, the I-T …
a) The Income Tax Department has introduced the ‘Jhatpat Processing’ with the tagline of File Karo Jhat Se, Processing Hogi Pat Se which means file your income tax return and get it processed quickly. b) The Jhatpat Processing has already started for ITR-1 and 4 and …
Now the due date for ITR filing has extended to 31st December 2020, it would be advisable to file the tax returns for the financial year (FY) 2019-20 or AY 2020-21 as soon as possible, to avoid the last-minute rush. Following points to consider before filing …
