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Over 5 lakh updated ITRs were used to deposit nearly ₹400 crore in tax: Official

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  • After five lakh updated income tax returns (ITRs) were filed, a senior official reported that the government had received ₹400 crore tax.
  • For taxpayers who need to update their ITRs for fiscal years beginning in 2019–20, the ITR-U form became available in May.
  • Taxes must be paid according to the Budget 2022–23 in order for taxpayers to update their ITRs within two years of filing.

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