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India Income Tax Returns: Only 6.68% Filed in FY24

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By Rediff Money Desk, New Delhi   Dec 17, 2024 16:05

Only 6.68% of India's population filed income tax returns in 2023-24 fiscal, Parliament was informed. This represents an increase in filing ITRs, with over 8.09 crore returns filed.
India Income Tax Returns: Only 6.68% Filed in FY24
Photograph: Kind courtesy Presidio of Monterey/Creative Commons
New Delhi, Dec 17 (PTI) Only 6.68 per cent of India's population filed income tax returns in 2023-24 fiscal, Parliament was informed on Tuesday.

Minister of State for Finance Pankaj Chaudhary said there is an increase in filing ITR with over 8.09 crore income tax returns were filed in fiscal 2023-24, up from over 7.40 crore in 2022-23. In FY22, the number of ITRs filed was over 6.96 crore, up from over 6.72 crore in FY21 and over 6.48 crore in FY20.

"In FY 2023-24, the percentage of population that files Income Tax Return is 6.68 per cent. (In FY 2023-24, the total number of persons filling income tax return is 8,09,03,315)," Chaudhary said in a written reply to the Rajya Sabha.

He further said total number of individuals reporting zero taxable income in their ITRs is 4.90 crore in Assessment Year 2023-24, up from 4.64 lakh in 2022-23.
Source: PTI
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