Out of 74 million ITRs filed in FY23, 70% claimed nil tax liability
financialexpress.comNumber of Income Tax Return (ITR) filings reached a record 74 million in FY23, but 51.2 million or 70% of these were zero-tax ITRs, meaning nil tax liability was claimed by the taxpayers.
Even as the number of ITRs have increased 14% in four years through FY23, the number of zero tax ITR filers have increased by 77% during the period to 51.2 million, according to data released by the finance ministry with Parliament on Monday.
Number of persons whose IT returns amount to zero tax liability during last four years was highest in Maharashtra with 74,45,222 zero tax returns in FY23, followed by Gujarat 59,91,699 and Uttar Pradesh 52,73,478.
The number of zero tax returns indicate that most people filed returns to claim tax refunds which were deducted during various transactions as well as to meet compliance requirements.
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