New Delhi: As per IncomeTax Department, a total of 7.28 crore ITRs (income tax returns) for the assessment year 2024-25 were filed till July 31, 2024. July 31 was the deadline for filing ITRs. This is 7.5 per cent more than the total ITRs of 6.77 crore recorded a year ago. As per data, nearly 72 per cent of taxpayers opted for the new tax regime this year.
‘The taxpayers and tax professionals made their compliances in time, leading to a surge in filing of income tax returns (ITRs), which resulted in a new record of ITRs filed till July 31, 2024. The total number of ITRs for AY 2024-25 filed till July 31, 2024, is more than 7.28 crore, which is 7.5 per cent more than the total ITRs for AY 2023-24 (6.77 crore) filed till July 31, 2023,’ Union Finance ministry said in a statement.
According to the official statement, an increasing number of taxpayers have opted for the new tax regime this year. 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. Thus, about 72 per cent of taxpayers have opted for the new tax regime, while 28% continue to be in the old tax regime,’ Union Finance ministry said in a statment.
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More than 69.92 lakh ITRs being filed on July 31, 2024. The e-filing portal also observed its highest per hour rate of 5.07 lakh of ITR filing between 07:00 pm to 08:00 pm on 31.07.2024. The highest per second rate of ITR filing was 917 (17.07.2024, 08:13:54 am) and the highest per minute rate of ITR filing was 9,367 (31.07.2024, 08:08 pm).
The Department also received 58.57 lakh ITRs till 31.07.2024 from first time filers. In a historic first, ITRs (ITR-1, ITR-2, ITR-4, ITR-6) were deployed on the e-filing portal on the first day of the Financial Year ie on April 1, 2024.
Out of the 7.28 crore ITRs filed for A.Y. 2024-25, 45.77% of ITRs are ITR-1 (3.34 crore), 14.93% are ITR-2 (1.09 crore), 12.50% are ITR-3 (91.10 lakh), 25.77% are ITR-4 (1.88 crore) and 1.03% are ITR-5 to ITR-7 (7.48 lakh). Over 43.82% of these ITRs have been filed using the online ITR utility available on the e-filing portal and the balance have been filed using offline ITR utilities.
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