Income Tax Department appreciates taxpayers & tax professionals for timely compliance, resulting in a record surge in the filing of Income Tax Returns (ITRs).
According to the Press Release issued by the Income Tax Department, the taxpayers and tax professionals made their compliances in time, leading to a surge in filing of Income-tax Returns which resulted in a new record of ITRs filed till 31st July 2024. The total number of ITRs for AY 2024-25 filed till 31st July, 2024 is more than 7.28 crore, which is 7.5% more than the total ITRs for AY 2023-24 (6.77 crore) filed till 31st July, 2023.
As per statistics given, increasing number of taxpayers opted for the New Tax Regime for the AY 2024-25. 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% of taxpayers have opted for the New Tax Regime, while 28% continue to be in the Old Tax Regime.
The statistics released indicate that despite reminders, majority of people wait for filing the ITR till the last date. However, breakdown of portal might be one of the reasons for the same. As per press release, filing of ITRs peaked on 31st July, 2024 with over 69.92 lakh ITRs being filed on 31st July, 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 highest per minute rate of ITR filing was 9,367 (31.07.2024, 08:08 pm).
It has also been stated that 58.57 lakh ITRs were filed till 31.07.2024 from first time filers.
The comparative data of ITR filed during last 5 years has been released as under:
| AY | Due Date | No. of Returns filed |
| 2020-21 | 10/01/2021 | 57845678 |
| 2021-22 | 31/12/2021 | 57739682 |
| 2022-23 | 31/07/2022 | 58288692 |
| 2023-24 | 31/07/2023 | 67742303 |
| 2024-25 | 31/07/2024 | 72880318 |
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