Surge in Zero-Tax Income Tax Returns: A Closer Look at India's Tax Landscape

Rashmi | Last updated: 25 July 2023

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India saw a record 74 million income tax returns filed in FY23, with a surprising 70% being zero-tax returns. This trend, showing a 77% increase in zero-tax filers over four years, is often due to taxpayers claiming refunds or fulfilling compliance requirements, rather than tax evasion. The government's initiatives, such as simplifying filing and expanding TDS/TCS, aim to increase the overall taxpayer base.

Introduction India witnessed a record number of Income Tax Return (ITR) filings in FY23, reaching an impressive 74 million. Surprisingly, a significant portion of these filings, 70% to be precise, were zero-tax ITRs, indicating that taxpayers claimed nil tax liability. The finance ministry releas

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About the Author

Rashmi

business

I am a Chartered Accountant with over 2 decades of experience in Auditing, Taxation, Accounting, Due diligence. I am currently a Managing Partner at RRL Global Services. I can be reached at rrlglobal @ yahoo.com or @ 9811757230

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