The income tax department on Wednesday said more than 4.50 crore tax returns have been processed so far, of the total 6.26 crore ITR filed for the financial year 2020-21.
Further, more than 5.41 crore income tax returns (ITRs) filed have been verified and 1.58 crore refunds amounting to Rs 31,857 crore for AY 2021-22 (2020-21 fiscal) have been issued.
In a tweet, the income tax department also said refunds of over Rs 1.71 lakh crore have been issued to over 1.97 crore taxpayers so far this fiscal.
This includes personal income tax refunds of Rs 63,234 crore and corporate tax refunds of Rs 1.08 lakh crore.
In a statement, the Central Board of Direct Taxes (CBDT) said over 29.8 lakh major tax audit reports (TARs) have been filed on the e-filing portal of the income tax department as on February 15, 2022. Over 4.14 lakh major TARs/ forms have been filed on Tuesday itself.
On the last date i.e. the extended due date of February 15, 2022, 14 per cent of these statutory forms and in the last five days from February 11 to 15, 30 per cent of these statutory forms were filed.
The I-T department also asked taxpayers who are yet to accept the tax audit report submitted by their CA to complete the process of submission.
"More than 5.41 crore income tax returns (ITRs) filed have been verified out of 6.26 crore ITRs filed for AY 2021-22. Of the verified ITRs, more than 4.50 crore ITRs have been processed and 1.58 crore refunds for AY 2021-22 have been issued," the statement added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.