This report has been updated to include a clarification by the Central Board of Direct Taxes (CBDT).
Only 58.3 million income-tax returns (ITRs) were filed for the assessment year 2022-23 (AY23) as on July 31 this year —the last date for filing the returns. This is much lower than the 71.4 million returns filed in AY22, and also less than the number for each of the previous three years, including pre-pandemic AY19, which witnessed 65.3 million returns.
Only 58.3 million income-tax returns (ITRs) were filed for the assessment year 2022-23 (AY23) as on July 31 this year —the last date for filing the returns. This is much lower than the 71.4 million returns filed in AY22, and also less than the number for each of the previous three years, including pre-pandemic AY19, which witnessed 65.3 million returns.
The assessment year broadly corresponds to income earned in the previous financial year. Thus, AY23 is the assessment year for income earned during