PTI New Delhi

Over 90 lakh updated Income Tax Returns have been filed over the last four years which fetched Rs 9,118 crore to the exchequer, Parliament was informed on Monday.

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 Rs 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 Rs 2,947 crore additional taxes paid.

Tax depts withdraw 6,599 appeals from courts

The tax departments have withdrawn 6,599 appeals filed before tribunals, High Courts and the Supreme Court following enhancement of monetary limits for filing such cases, Parliament was informed on Monday.

In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said CBDT has enhanced monetary limit for filing appeals by Income Tax Department before the Income Tax Appellate Tribunal (ITAT), High Courts and the Supreme Court to Rs 60 lakh, Rs 2 crore and Rs 5 crore, respectively. The Central Board of Direct Taxes (CBDT) has identified 4,951 appeals for withdrawal from ITAT, High Courts and the apex court.