July 31 is the cutoff time for annual expense forms for those not expected to have their records inspected. As of a similar date in 2023, over 6.77 crore ITRs were documented, with 64.33 lakh entries made on the cutoff time day.
The Annual Expense Division reported on Wednesday that in excess of 7 crore personal government forms income tax returns (ITRs) have been recorded starting around 7 p.m. on July 31. Of this aggregate, north of 50 lakh ITRs were submitted on the last day alone.
Taxpayers who have not yet submitted their returns for the fiscal year 2024 were urged by the department to do so as soon as possible. To help with the recording system, the Annual Assessment Office’s helpdesk is accessible all day, every day for help.
In an explanation posted via web-based entertainment stage X (previously Twitter), the office featured: ” In excess of 7 crore income tax returns (ITRs) have been documented such a long ways as of July 31, with more than 50 lakh ITRs recorded today by 7 p.m. Our helpdesk is functional nonstop to help with ITR documenting and related administrations. We encourage all citizens who haven’t petitioned for AY 2024-25 to finish their filings.”
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For those who are not required to have their accounts audited, the deadline for filing income tax returns is July 31. As of a similar date in 2023, over 6.77 crore ITRs were documented, with 64.33 lakh entries made on the cutoff time day.
On Tuesday, Revenue Secretary Sanjay Malhotra said that about 6 crore Income Tax Returns (ITRs) were filed for income earned during the 2023–24 fiscal year. Seventy percent of these returns were submitted under the new simplified tax regime, which has lower tax rates. Malhotra underlined that the new system means to improve on the duty cycle and decrease consistence loads. He likewise noticed that a complete survey of expense regulations is in progress, with a draft expected to be delivered for public ideas..
