49L submissions on August 31 push I-T returns per year to record 5.65cr
NEW DELHI: Until Saturday, a record of 5.65 million income tax returns were filed, the extended deadline for the annual filing, suggesting that more people are now part of the tax network. However, the increase in the presentation of statements seen after demonetization seems to be decreasing.
Data published by the income tax department on Sunday showed that until the end of August, there was a 4% increase in submissions for the 2018-19 fiscal year, compared to statements of Rs 5.4 million filed through August 31, 2018. Last year, there was an increase of 71%, which was attributed to the impact of demonetization since cash deposits resulted in the disclosure of income. In addition, the government's decision to charge a fee for delayed returns last year onwards led many people to submit their return within the deadline.
However, tax officials applaud the increase achieved so far during the current year, arguing that it reached a high base, and they hope it will expand further in the coming years as the total impact of GST occurs. .
In addition, credit is being given for a flawless submission process this August with more than 49 lakh statements filed on Saturday, and almost 25% of the statements filed over the past five days, with the technology system showing no signs. of deceleration. On Saturday, the maximum submission rate per second was 196 ITR and the maximum submission rate per minute was 7,447. The information security team at the I-T department thwarted more than 2,205 malicious attacks on the website aimed at disrupting services in the peak period, an official statement said.
This was also the first year that pre-completed forms were tested for a large number of taxpayers and the department believes the experiment has been successful, which led him to look for ways to expand coverage next year.
In recent years, tax authorities have also focused on faster reimbursements and with more people opting for electronic verification, the process is expected to accelerate. Therefore, so far the returns of Rs 3.6 million have been verified, which is almost two thirds. Of this, almost 80% or 2.86 million rupees have opted for electronic verification, mainly using a single-use password based on Aadhaar. The I-T department intends to carry out campaigns to raise awareness about electronic ITR verification where verification is still pending, the statement said.