Tuesday, 02 January 2024 12:17 GMT

Income Tax Dept Says Over 6 Crore Itrs For AY 2025-26 Filed So Far


(MENAFN- Live Mint) Income Tax Department said on Saturday, September 13, over 6 crore income tax returns (ITRs) for Assessment Year 2025-26 have been filed so far.

In a post on social media platform X, the I-T department said:“Thank you taxpayers & tax professionals for helping us reach the milestone of 6 crore Income Tax Returns (ITRs) as of now and still counting.”

According to the I-T Department, the last date to file an ITR without penalty is September 15, 2025.

Also Read | What happens if you underreport or misreport your income in ITR filing?

To assist taxpayers for ITR filing, tax payment and other related services, the I-T Department's helpdesk is functioning on a 24x7 basis. It is also providing support through calls, live chats, WebEx sessions & Twitter/X.

The I-T Department has asked taxpayers who have not filed ITR for AY 2025-26 to file at the earliest to avoid a last-minute rush.

In May, the Income Tax Department had announced an extension of the due date for filing ITR for Assessment Year (AY) 2025-26 (for income earned in financial year 2024-25) by individuals, HUFs (Hindu Undivided Families) and entities who do not have to get their accounts audited from July 31 to September 15.

The extension was on account of "structural and content revisions" in the income tax return (ITR) forms, which was notified in late April and early May.

The changes made in the ITR Form for AY 2025-26 also need modifications to be made in ITR filing utilities and the back-end system.

Also Read | Income Tax: Return still not filed? Don't fret, follow these points

Over the years ITR filings have shown consistent growth, reflecting rising compliance and the widening of the tax base.

For AY 2024-25, a record 7.28 crore ITRs were filed up to July 31, 2024, as compared to 6.77 crore in AY 2023-24, registering a 7.5% year-on-year growth.

In July, the Income Tax Department had said it enabled online utility for filing income tax return-2 (ITR-2) for financial year 2024-25 for individuals and HUFs having taxable capital gains income.

"Income Tax Return Form of ITR-2 is now enabled for filing through online mode with pre-filled data at the e-filing portal," the I-T department had said in a post on X.

ITR-2 is filed by individuals and Hindu Undivided Families who have income from capital gains, but do not have earnings from business or profession.

In June, the tax department had enabled the online utility for filing ITR-1 and 4, which are simpler forms that cater to small and medium taxpayers.

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