IT portal clocked 3 cr logins, 1.5 cr ITRs filed, says Infosys

The IT major informed that over three crore taxpayers have logged into the new Income Tax portal and over 1.5 crore returns have been filed till date.

"Infosys is committed to making rapid progress in further streamlining end-user experience," the company said today while updating on the progress it is making on the Income Tax E-Filing Portal (IT portal).

The company said that over the last few weeks, the IT portal has seen steady increase in usage with taxpayers' concerns being progressively addressed. Thus far, over 3 crore taxpayers have logged into the portal and successfully completed various transactions.

In September, on average, more than 15 lakh unique taxpayers have logged into the portal, daily, and over 1.5 crore returns have been filed till date. Over 85% of taxpayers who have filed their returns have also completed their e-verification, largely through Aadhaar OTP authentication.

"The portal is facilitating over 2.5 lakh returns filing on a daily basis and ITR 1, 2, 3, 4, 5, and 7 are now available for filing. A majority of the statutory forms have also been made available online. Several critical statutory forms like 15G, 15H, EQ1, 10A, 10E, 10IE, DTVSV, 15CA, 15CB, 35 as well as TDS Returns are being filed in large numbers. More than 11.5 lakh statutory forms and over 8 lakh TDS returns have already been filed. Taxpayer services such as e-proceedings, response to notices and demands, e-PAN services, DSC registrations, and functionality for legal heir, have also been enabled. Over 16.6 lakh e-PANs have been allocated. 4.3 lakh DSC registrations and over 3.44 lakh e-proceeding responses to notices have also been completed," the company added.

Despite the steady progress, Infosys said it recognizes the ongoing challenges faced by some users and has engaged with more than 1200 taxpayers directly to better understand their concerns. The company said it is focused on rapidly resolving these challenges while working closely with the Chartered Accountant community to ensure that a comprehensive set of user scenarios are supported and thoroughly tested before deployment.

Infosys was awarded a contract in 2019 to develop the new e-filing portal, www.incometax.gov.in. The project was aimed at developing the next-generation income tax filing system to reduce processing time for returns from 63 days to one day and to expedite refunds.

The new portal, however, faced tech glitches from day one with users complaining that certain functionalities were either unavailable or working slow.

Infosys is a global leader in next-generation digital services and consulting. The company's board will meet on 12 and 13 October 2021 to approve and take on record the audited consolidated financial results for the quarter and half year ending 30 September 2021.

The company's consolidated net profit grew 2.3% to Rs 5,195 crore on 6% increase in revenue to Rs 27,896 crore in Q1 FY22 over Q4 FY21. Revenues in constant currency (CC) terms grew by 16.9% YoY and 4.8% quarter-on-quarter (QoQ).

While announcing its April-June quarter (Q1FY22) results, Infosys said it expects its revenue to grow by 14-16% in FY22, up from the earlier estimate of 12-14%.

Infosys on Wednesday (22 September 2021) announced a strategic collaboration with Amazon Web Services (AWS) to develop quantum computing capabilities and use cases. Infosys will use Amazon Braket to explore and build multiple use cases in quantum computing as part of Infosys Cobalt cloud offerings.

Shares of Infosys were up 0.67% to Rs 1728.20. The stock hit a high of Rs 1734.30 and a low of Rs 1722.30 so far.

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