The latest data from the Income Tax Department reveals that more than 9 crore taxpayers have filed their income tax returns (ITR) as of February 28, 2025, for the financial year 2024-25. Among them, over 4.68 lakh individuals reported an annual income exceeding ₹1 crore.
Breakdown of High-Income Taxpayers
- ₹1 crore - ₹5 crore: 3.89 lakh taxpayers
- ₹5 crore - ₹10 crore: 36,274 taxpayers
- Above ₹10 crore: 43,004 taxpayers
The total count of taxpayers earning more than ₹1 crore currently stands at 4,68,658, and this figure may increase as the deadline for ITR filing approaches on March 31, 2025.
ITR Filing Trends and Growth
As of February 28, India recorded 9.11 crore ITR filings, which accounts for about 65% of the country's 13.96 crore registered taxpayers. Of these, 8.56 crore returns have been successfully e-verified, and refunds worth ₹3.92 lakh crore have been issued.
The growth in ITR filings has been significant across different categories:
- ITR-1 saw a 0.11% increase
- ITR-2 filings surged by 33.89%
- ITR-3 filings grew by 15.50%
- ITR-5 & ITR-6 reported 6.46% and 5.59% growth, respectively
Which States Filed the Most IT Returns?
Maharashtra leads the country in ITR filings, with 1.38 crore returns submitted, followed by:
- Uttar Pradesh - 90.68 lakh
- Gujarat - 87.90 lakh
- Delhi - 44.45 lakh
- Punjab - 43.79 lakh
- Andhra Pradesh - 30.76 lakh
With just days left for the March 31 deadline, ITR filings are expected to rise further, as more taxpayers rush to meet compliance requirements.
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