Approx 80 million Income Tax Return filed till Dec 2; MoS Finance notified Parliament:

Approx 80 million Income Tax Return filed till Dec 2; MoS Finance notified Parliament Parliament was informed on Monday that 7.76 crore tax returns for income earned in 2022-23 had been filed as of December 2, with a greater possibility of being filed by the end of the month. In the financial year 2022-23, 10.09 crore PAN holders paid taxes on income earned in 2021-22. For the same period, 7.76 crore returns have been filed as of December 2, 2023, and additional returns are predicted to be filed until the deadline, i.e. December 31, 2023, Pankaj Chaudhary (Minister of State for Finance) said in a written reply to the Lok Sabha. The due date for filing income tax returns (ITRs) for 2022-23 income was July 31, 2023. Assessees who intend to file their returns after the due date must do so by December 31 or incur a penalty. During the period of 2022-23, the total amount of net direct tax collection is Rs 16.63 lakh crore, of which income tax collection is Rs 8.08 lakh crore.