As of July 31, 2024, over 7.28 crore income tax returns (ITRs) have been filed for the assessment year 2024-25, marking a 7.5 per cent increase compared to the 6.77 crore ITRs filed by the same date in 2023. This information was released by the Press Information Bureau (PIB) on August 2, 2024.
Read More: What should you do when you get an income tax notice after ITR filing?
However, it is important to note that not all filed returns have been e-verified. E-verification is crucial as it initiates the processing of ITRs and enables refunds. According to the PIB, over 6.21 crore ITRs have been e-verified, with more than 5.81 crore of these done through Aadhaar-based OTP, making up 93.56 per cent of e-verified returns. Of these e-verified ITRs, over 2.69 crore for AY 2024-25 have already been processed, which is 43.34 per cent of the total. Taxpayers who have not yet e-verified their returns are encouraged to do so within 30 days of filing to ensure their returns are processed.
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What is New e-Verification Deadline for ITRs?
A recent update from the Income Tax Department now requires taxpayers to e-verify their returns within 30 days of filing, according to a notification dated July 29, 2022.
New E-Verification Deadline Applicable to Whom?
This new 30-day deadline applies to returns filed electronically on or after August 1, 2022.
Read More: ITR filing: How can taxpayers check their income tax refund status online? A step-by-step guide
What Was Previous Deadline?
Previously, taxpayers had 120 days to complete the e-verification or submit a hard copy of ITR-V.
What Will Be Date of Data Transmission?
If ITR data is transmitted electronically and the ITR-V form is submitted within 30 days, the date of data transmission will be considered the official date of filing the return.
