Income Tax Return: 7.4 Cr ITRs Filed In FY23, Over 5.16 Cr Declared Zero Tax Liability, Says Nirmala Sitharaman – News18

Income Tax Return: Number of entities, including individuals, who filed income tax returns increased by 6.18 per cent in 2022-23 to over 7.40 crore, of which about 5.16 crore declared zero tax liability, Finance Minister Nirmala Sitharaman said on Monday.

“There has been a 6.18 per cent increase in the number of persons filing Income Tax Returns in F.Y. 2022-23 as compared to persons in F.Y. 2021-22,” she said in the Lok Sabha.

India’s gross direct tax collection grew 20.33 per cent to over Rs 19.68 lakh crore in 2022-23 fiscal.

Also Read: Effortless ITR Filing: A Step-by-Step Guide To Register On Income Tax Portal

As per the return filing data shared by Sitharaman, the number of persons who filed income tax returns during the last four years has shown an increase.

Over 7.40 crore ITRs were filed in 2022-23, of which over 5.16 crore had zero tax liability.

Similarly, for 2021-22 fiscal, over 6.94 crore ITRs were filed, of which over 5.05 crore had zero tax liability.

Over 6.72 crore and 6.47 crore ITRs were filed in 2020-21 and 2019-20 fiscal years.

Of this, over 4.84 crore and 2.90 crore assessees had zero tax liability.

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The Government has taken several steps, like expansion of the scope of TDS/TCS, simplification of personal I-T, prefiling of ITRs, updated returns, new form 26AS and non-filers monitoring system, which has helped in adding taxpayers.

“E-mails and SMS reminders are issued to taxpayers to file their ITRs and pay their due taxes,” Sitharaman said, adding the tax department is also undertaking publicity campaigns to raise awareness about filing tax returns.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)