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Approximately 26.35% of ITRs were refined in FY 2024-25 in a week in contrast to 22.56% in FY 2023-24
Belated ITR Filing Due Date
In a cutting-edge accomplishment, the Income Tax Department of India refined greater than 1.62 crore Income Tax Returns (ITRs) in a solitary day for the Assessment Year (AY) 2024-25. This exceptional turning point shows the expanding effectiveness and technical expertise of India’s tax obligation management system.
The numbers do not quit there. Within simply a week of handling, an excellent 26.35% of ITRs for FY 2024-25 were gotten rid of– a considerable enhancement contrasted to the 22.56% attained throughout FY 2023-24. This year-on-year rise showcases not just the capability of the system yet likewise the positive interaction of taxpayers in sticking to submitting target dates.
Behind this accomplishment is the durable execution of electronic devices and automation. Initiatives like the e-filing website, real-time updates, and structured procedures have actually made it less complicated for countless taxpayers to submit their returns. Additionally, the initiatives of the tax obligation authorities in spreading out recognition regarding submitting target dates and offering straightforward systems have more increased conformity
What is an ITR?
An ITR is a kind that people, companies, or various other entities send to the Income Tax Department of India to report their revenue and tax obligations spent for a fiscal year. Filing an ITR is required for people and entities whose revenue goes beyond the fundamental exception limitation recommended by the federal government.
