Record 7.28 Cr ITRs Filed For Assessment Year 2024-25 Till 31st July This Year

A record seven crore 28 lakh Income-tax Returns (ITRs) have been filed for Assessment Year 2024-25 till 31st July this year. The Finance Ministry said in a statement that this is 7.5 percent more than the total ITRs for Assessment Year 2023-24 filed till 31st July, last year.

An increasing number of taxpayers have opted for the New Tax Regime this year. Out of the total ITRs of 7.28 crore filed for Assessment Year 2024-25, 5.27 crore have been filed in the New Tax Regime compared to 2.01 crore ITRs filed in the Old Tax Regime.

About 72 percent of taxpayers have opted for the New Tax Regime, while 28 percent continue to be in the Old Tax Regime. The filing of ITRs peaked on 31st July this year with over 69.92 lakh ITRs being filed on a single day.

The Department also received 58.57 lakh ITRs till 31st July from first time filers, which is a fair indication of the widening of the tax base. Focussed outreach campaigns were carried out on Social Media to encourage the taxpayers to file their ITRs early.

Along with this, unique creative campaigns were also carried out on different platforms. Informational Videos in 12 Vernacular languages, apart from English and Hindi, were displayed on digital platforms.