New Delhi: Over 6.85 crore revenue tax returns have been filed to this point for fiscal 2021-22 and the quantity is anticipated to go up additional by December 31, a senior official mentioned.
The final date for submitting revenue tax returns (ITRs) for 2021-22 fiscal for people was July 31, whereas for corporates and others who have to get their accounts audited was November 7, 2022. If the deadline is missed, taxpayers may file a belated return by paying penalty, the final date for which is December 31.
“Thus far, 6.85 crore tax returns for Evaluation Yr 2022-23 have been filed and we’re hopeful that the quantity will improve until December 31,” Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta has mentioned. Within the final fiscal (2021-22), which ended on March 31, 2022, 7.14 crore tax returns had been filed.
This was larger in comparison with 6.97 crore filed in 2020-21. Thus far this fiscal, refund price round Rs 2 lakh crore has been disbursed. Until November 10, the federal government’s gross direct tax kitty grew 31 per cent to Rs 10.54 lakh crore.
Web collections, after adjusting refunds, stood at Rs 8.71 lakh crore, which is 61.31 per cent of the Finances estimates (BE) for the total 12 months tax assortment goal. The online direct tax assortment this fiscal ending March 31, 2023 is prone to exceed funds estimates of Rs 14.20 lakh crore by 25-30 per cent.