Over 3 crore ITRs for income earned in 2022-23 fiscal have been filed so far, out of which 91 per cent have been verified electronically, the income tax department said on Wednesday. “Out of the 3.06 crore ITRs filed till 18th July, 2023, 2.81 crore ITRs have been e-verified i.e. Out of the e-verified ITRs, more than 1.50 crore ITRs have already been processed,” the I-T department tweeted. The 3 crore milestone in income tax return (ITR) filing has been reached 7 days earlier this year. As per Section 14 of the Income Tax Act, for the purpose of charging tax and computation of total income, all incomes are classified under 5 Heads of Income.

Source: Economic Times July 20, 2023 07:24 UTC