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Earnings Tax: There are about 14 lakh ITRs for AY 2023-24 which have been filed however are but to be verified by the taxpayers as on September 4, 2023.
Earnings Tax: About 6.98 crore ITRs have been filed for AY 2023-24, out of which 6.84 crore ITRs have been verified
The earnings tax division on Tuesday, September 5, stated it’s dedicated to processing the earnings tax returns (ITRs) in a speedy and environment friendly method. It stated 6.98 crore ITRs have been filed for AY 2023-24, out of which 6.84 crore ITRs have been verified. Out of the verified ITRs in AY 2023-24, greater than 6 crore have been processed up to now, ensuing within the processing of over 88 per cent of the verified ITRs.
Greater than 2.45 crore refunds for AY 2023-24 have already been issued.
The earnings tax division’s efforts to supply seamless and expeditious taxpayer providers are being constantly strengthened. In step with the identical, the common processing time of ITRs (after verification) has been decreased to 10 days for Returns filed for AY 2023-24 in comparison with 82 days for AY 2019-20 and 16 days for AY 2022-23.
There are about 14 lakh ITRs for AY 2023-24 which have been filed however are but to be verified by the taxpayers as on September 4, 2023. Failure to confirm the returns causes delays in processing because the Return can solely be taken up for processing as soon as the verification has been accomplished by the taxpayer. Taxpayers are urged to finish the verification course of instantly.
There are about 12 lakh verified ITRs through which additional data has been sought by the earnings tax division, for which requisite communication has been despatched to the taxpayers by means of their registered e-filing accounts. Taxpayers are requested to answer such communication expeditiously.
There are a number of circumstances through which the ITRs have been processed and refunds have additionally been decided however the Division is unable to difficulty them as taxpayers haven’t but validated their checking account through which the refund is to be credited. Taxpayers are requested to validate their financial institution accounts by means of the e-filing portal.
The I-T division stays dedicated to the speedy processing and expeditious difficulty of refunds and solicits the cooperation of the taxpayers.
