New Delhi, March 14 -- A recently introduced facility that allows income-tax assessees to correct past mistakes in computing tax without any hassle, has seen 8.35 million taxpayers update their returns, and earned the exchequer about Rs.8,350 crore additional revenue since FY23, according to government data.
The updated return facility, announced in the budget for 2022-23, helped the income-tax department use digital infrastructure and nudge those taxpayers who were suspected to have made wrong claims of deductions and exemptions in their income-tax returns (ITRs), encouraging them to pay the correct amount after updating their ITRs, a government official said.
According to government data submitted to the standing committee on finance, o...