45 mn IT returns processed

The income tax department 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 itself.

On the last date i.e. the extended due date of February 15, 2022, 14 % of these statutory forms and in the last five days from February 11 to 15, 30 % 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.