BackNearly half of total tax returns filed are ITR-1, shows official data
ITR-1 is meant for individual taxpayers who have income below ₹50 lakh only from salary, one house property or under the ‘income from other sources’ head. This indicates that individual salaried taxpayers make up the major chunk of the total taxpayers in the current assessment year
PremiumNEW DELHI: With the deadline for filing income tax returns (ITRs) less than a week away, taxpayers are scurrying to file their tax returns. The Income Tax (IT) department on Sunday said that 11.68 ITRs were filed on 25 December. This is almost double of the daily average of nearly 6 lakh ITRs that were being filed around mid-December, as per the data provided by the tax department.
A total of 4.43 crore ITRs have been filed for the assessment year 2021-22 as of 25 December, the department said.
Of the total number of tax returns filed, nearly half were filed through ITR-1 Form by 2.41 crore taxpayers. ITR-1 is meant for individual taxpayers who have income below ₹50 lakh only from salary, one house property or under the ‘income from other sources’ head. This indicates that individual salaried taxpayers make up the major chunk of the total taxpayers in the current assessment year.
As of 20 December, the Central Board of Direct Taxes had issued refunds of over ₹1,44,328 crore to more than 1.38 crore taxpayers, as per the department.
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