(CTN NEWS) – Finance Minister Nirmala Sitharaman will grace the celebration of the 164th Income Tax Day at Plenary Hall, Vigyan Bhawan, New Delhi, today, Monday.
The event is scheduled to commence at 6:00 pm.
This annual occasion, observed on 24th July, aims to raise awareness about the significance of taxes and foster a sense of responsibility among citizens to contribute to the nation’s development by fulfilling their tax obligations.
Union Finance Minister Nirmala Sitharaman to Grace 164th Income Tax Day Celebrations at Vigyan Bhawan, New Delhi
“Exciting announcement! The 164th Income Tax Day celebrations are set to be graced by the esteemed presence of Smt. Nirmala Sitharaman, the Union Finance Minister, along with the honorable Union Minister of State for Finance, Shri Mahesh Prasad Chaudhary.
The event is scheduled to take place tomorrow, on the 24th of July 2023, starting from 18:00 Hours IST onwards at the prestigious Plenary Hall, located in Vigyan Bhawan, New Delhi.”
“The Ministry of Finance tweeted this exciting news on a Monday, building anticipation for an event that brings together key figures from the financial realm.
It promises to be an occasion of great significance, with the respected Union Finance Minister, Smt. Nirmala Sitharaman, at the helm, overseeing the proceedings.”
“The celebration of Income Tax Day holds immense importance as it acknowledges the contributions of taxpayers to the nation’s growth and development.
The event provides a platform to recognize the efforts of individuals and businesses who dutifully fulfill their tax obligations.
It also serves as an opportunity for the government to express its gratitude to the taxpayers and share insights into the effective utilization of tax revenue for the welfare of the nation.”
Celebrating the 164th Income Tax Day: Honoring Fiscal Responsibility at Vigyan Bhawan, New Delhi
“The presence of Shri Mahesh Prasad Chaudhary, the Union Minister of State for Finance, further adds to the significance of the occasion. With his valuable insights and contributions, the event is bound to be enriched.”
“The venue for this prestigious celebration is the Plenary Hall, located in the iconic Vigyan Bhawan, New Delhi.
Known for hosting various national and international events of prominence, Vigyan Bhawan provides an ideal setting to honor the spirit of taxation and fiscal responsibility.”
“The 164th Income Tax Day celebrations are anticipated to be a grand affair, symbolizing the nation’s commitment to fiscal discipline and growth.
As the clock ticks towards the much-awaited event, the anticipation and enthusiasm among attendees, organizers, and the general public continue to soar.”
Income Tax Department Surpasses Milestone Target with Early Filing of 3 Crore ITRs
This year, the Income Tax department has achieved a remarkable feat by surpassing its previous milestone target of filing 3 crore Income Tax Returns (ITRs) well ahead of the deadline.
The target for income tax return filing was reached seven days earlier than the previous year.
As of Wednesday, over 3 crore ITRs for the income earned during the 2022-23 fiscal year have already been filed.
Among these, an impressive 91 percent of ITRs have been electronically verified, showcasing the increasing adoption of digital processes in tax compliance.
The Income Tax department took to Twitter to share the statistics, stating that out of the total 3.06 crore ITRs filed until July 18, 2023, a whopping 2.81 crore ITRs have been e-verified.
This substantial number highlights the growing trust and reliance on electronic verification methods among taxpayers.
The electronic verification process has proven to be efficient, secure, and user-friendly, leading to its widespread acceptance.
As a result, more than 1.50 crore e-verified ITRs have already been processed by the department, demonstrating the effectiveness of the streamlined digital approach in expediting tax-related procedures.
The successful completion of such a significant number of ITR filings well before the deadline is a testament to the collaborative efforts of taxpayers and the Income Tax department.
It reflects the commitment of taxpayers to comply with their tax obligations promptly and the department’s dedication to providing seamless services and processing tax returns efficiently.
The early accomplishment of this year’s target signifies a positive trend in tax compliance and sets a promising tone for future tax seasons.
As technology continues to play a pivotal role in simplifying tax procedures, the Income Tax department’s continued efforts to embrace digital solutions are expected to further enhance the overall tax filing experience for citizens.
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