Taxpayers Aged 18-35 Years Filed 2,09,06,829 ITRs, Rs 93,318 Crore Paid In Gross Taxes

New Delhi, February 6 (TNA) 2,09,06,829 number of Income tax Returns (ITRs) were filed by individuals (between age of 18 to 35 years) during FY 2022-23 till 31st January 2023, union minister of State for Finance, Pankaj Chaudhary, in a written reply to a question in Lok Sabha on Monday.

As per Income-tax Act, 1961, tax is calculated and collected based on total income returned in ITR. Total Income includes income from different heads of income such as income from salary, income from house property, income from profit and gains from business or profession, income from capital gains and income from other sources.

Tax is not collected separately under different heads. Rs 93,318 crore is the gross taxes paid as per ITRs filed, before claim of refund, the Minister stated.

For below the age of 18 years, the Minister further stated that 4,861 number of ITR filed were by individuals during FY 2022-23 till 31st January 2023. The Minister stated that this category taxpayers paid Rs 6.31 crore gross taxes as per ITRs filed, before claim of refund. As per Income-tax Act, 1961, tax is calculated and collected based on total income returned in ITR.

Total Income includes income from different heads of income such as income from salary, income from house property, income from profit and gains from business or profession, income from capital gains and income from other sources. Tax is not collected separately under different heads.