ITR Due Date Extension AY 2023-24: Will Govt extend last date of Income Tax Return? Latest news

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Income Tax Return (ITR) Due Date Extension AY 2023-24 Latest News (July 17): If you are waiting for the extension of the due date to file ITR for Assessment Year 2023-24 beyond July 31, you should stop doing so and file now. The Government is not contemplating any extension of the due date of filing ITR for AY 2023-24.

On Sunday, news agency PTI quoted Revenue Secretary Sanjay Malhotra as saying that income taxpayers should file their returns at the earliest as the finance ministry is not contemplating an extension of the July 31 deadline.

“We expect that the filing would be higher than the last year…we are hopeful that it should be more than the last year,” Malhotra said.

Faster filing this year

According to Malhotra, about 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for the assessment year 2022-23. But ITR filing has been at a much faster pace than last year. “We would advise them (taxpayers) not to wait to the last moment and also not to hope for any extensions,” says the Revenue secretary.

Total ITR filed

Over 2.7 crore ITRs have been filed till July 16. As per data on the e-filing website, as many as 2,73,12,434 income tax returns were filed till July 16.

Also Read: ITR processing time to more tax-free income in new regime: FM Nirmala Sitharaman shares details

Total ITRs processed

More than 1.2 crore returns have been processed by the Income Tax Department. Data shows as many as 1,20,83,076 verified returns for AY 2023-24 were processed till July 16.

Total ITRs verified

More than 2.5 crore returns have been verified by taxpayers. The Income Tax department’s data shows as many as 2,50,88,817 returns for AY 2023-24 were verified till July 16.

Why you should file ITR before July 31

There are several benefits of filing Income Tax Return before the due date. It not only helps you in avoiding the last-minute rush but also in early processing of refunds. And there are some more benefits. Read here


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