Over 9 mn updated I-T returns filed, ₹9,118 cr additional taxes mobilised

Over 9 million updated Income Tax Returns have been filed over the last four years which fetched ₹9,118 crore to the exchequer, Parliament was informed on Monday.

To encourage voluntary compliance, the government in 2022 had introduced the option for taxpayers to file updated I-T returns (ITR-U) up to 2 years from the relevant assessment year by paying additional income-tax.

Through Finance Bill, 2025, the government has proposed to extend the time limit for filing updated returns to up to 4 years from the relevant assessment year.

In the current assessment year (2024-25) till February 28, around 464,000 updated ITRs have been filed and taxes of ₹431.20 crore paid, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Lok Sabha.

In AY 2023-24, over 2.979 million ITR-Us were filed and ₹2,947 crore additional taxes paid.

In AY 2022-23 and AY 2021-22, 4.007 million and 1.724 million updated ITRs were filed and additional ₹3,940 crore and ₹1,799.76 crore taxes were paid.

Cumulatively, between AY 2021-22 to AY 2024-25, over 9.176 million ITR-Us were filed which fetched additional taxes of ₹9,118 crore to the government.