New record of over 7.28 cr income-tax returns filed: Tax dept

Income tax returns (ITRs) touched a new record of over 7.28 crore, 7.5 per cent higher compared to previous fiscal, by the July 31 deadline, the income tax department said on Friday, The department said in a statement,. "Out of the total ITRs of 7.28 crore filed for AY 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," it said. The filing of ITRs peaked on July 31, 2024 (the due date for salaried taxpayers and other non-tax audit cases), with over 69.92 lakh ITRs being filed on a single day.

The Income Tax Department appreciates taxpayers & tax professionals for timely compliance, resulting in a record surge in the filing of Income Tax Returns (ITRs).

Here are the key highlights:

More than 7.28 crore ITRs for AY 2024-25 filed till 31st July, 2024, a 7.5% increase… pic.twitter.com/CzbgZEMUWi

— Income Tax India (@IncomeTaxIndia) August 2, 2024

The department also received 58.57 lakh ITRs from first-time filers, a fair indication of the widening of the tax base.