DISCLAIMER: This is a compilation of tweets being shared by netizens around the world. Times of India neither condones nor endorses any of the views shared in this article here.The deadline for filing
Income Tax Returns for the 2022-23 financial year for different categories of taxpayers is July 31.
More than four crore ITRs have been filed so far and about 7 percent of these are new or first-time filers, CBDT chairperson Nitin Gupta said on Monday.
He said that more than half of these ITRs have been processed leading to 80 lakh refunds till now.
Gupta said direct tax collection, which includes personal
income tax and corporate tax among others, has been making "remarkable" strides as the department collected more than Rs 16.61 lakh crore in taxes during the 2022-23 fiscal which was 17.67 per cent higher than the preceding year.
So far, the tax department has sent about 1 lakh notices to individuals with income above Rs 50 lakh for a mismatch in income disclosed in ITR versus information available with the department. Also, notices have been sent to non-filers of tax returns.
Seven per cent of the assessees who filed income tax returns this year are "new taxpayers", Gupta said, adding that the number of new taxpayers is expected to increase by July 31.
With the last date of ITR filing soon approaching, the internet is abuzz with memes around the panic it creates among tax payers as well the current situation of chartered accountants across the country.