New Delhi: The Income Tax Department announced on Wednesday that more than 4.50 crore income tax returns (ITRs) have been processed out of a total of 6.26 crore ITRs filed for the fiscal year 2020-21.
Furthermore, more than 5.41 crore ITRs have been verified, and 1.58 crore refunds totaling 31,857 crore have been issued for the assessment year (AY) 2021-22.

The income tax department also stated in a tweet that refunds totaling over 1.71 lakh crore have been issued to over 1.97 crore taxpayers so far this fiscal year.

This includes 63,234 crore in personal income tax refunds and 1.08 lakh crore in corporate tax refunds.

The Central Board of Direct Taxes (CBDT) said in a statement that as of February 15, 2022, over 29.8 lakh major tax audit reports (TARs) had been filed on the income tax department's e-filing portal. On Tuesday alone, over 4.14 lakh major TARs forms were submitted.

14 percent of these statutory forms were filed on the last date, which was the extended due date of February 15, 2022, and 30 percent of these statutory forms were filed in the last five days from February 11 to 15, 2022.