Over 90 lakh updated tax returns filed, ₹9,118 crore additional taxes mobilised
The Hindu
Over 90 lakh updated Income Tax Returns filed in 4 years, fetching ₹9,118 crore to the exchequer.
Over 90 lakh 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 (March 24, 2025).
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, 4.64 lakh 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 29.79 lakh ITR-Us were filed and ₹2,947 crore additional taxes paid.
In AY 2022-23 and AY 2021-22, 40.07 lakh and 17.24 lakh 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 91.76 lakh ITR-Us were filed which fetched additional taxes of ₹9,118 crore to the government.
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