Quick Summary
The number of Individual Income Tax Return (ITR) filers in India has witnessed a significant surge of over 43% in the fiscal year 2024-25, with total filers surpassing 9.05 crore, according to data available till January 31, 2025. This marks an overall 6.8% increase in tax filers compared to the pre
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FAQ :
By January 31, 2025, the total number of ITR filers in India for FY25 had surpassed 9.05 crore.
The number of ITR filers reporting incomes exceeding ₹1 crore saw a record 43% growth in FY25, increasing to 3.21 crore from 2.24 crore in FY21.
Key measures include enhanced Form 26AS, pre-filled ITRs, the updated return filing facility, an e-verification scheme, lower tax slabs in the new tax regime, stricter laws against black money and benami transactions, and an expanded scope for TDS/TCS.
The enhanced Form 26AS now includes details of TDS, tax payments, refunds, pending demands, and Specified Financial Transactions (SFT), making taxpayers more aware of their financial activities and encouraging accurate disclosure.
This provision allows taxpayers to update their ITRs within two years of the relevant assessment year to correct any omissions, ensuring better compliance and reducing potential tax disputes.
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