Record 7.28 Crore Income Tax Returns Filed By July 31; 72% Opted For New Regime
Taxpayers and tax professionals adhered to deadlines, setting a new record for Income Tax Returns (ITRs) filed by July 31. The total number of ITRs submitted for the assessment year 2024-25 exceeded 7.28 crore, marking a 7.5 percent increase over the 6.77 crore ITRs filed for the 2023-24 assessment year, according to a Ministry of Finance statement released on Friday.
The filing of ITRs peaked on July 31 (due date for salaried taxpayers and other non-tax audit cases) with over 69.92 lakh ITRs being filed on a single day.
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 July 31.
A total of 58.57 lakh ITRs from first time filers were reported, a fair indication of widening of tax base.
“A lot of emphasis was provided to educate taxpayers about Old and New tax regimes. FAQs and educational Videos on the same were designed and uploaded on the e-filing portal,” the ministry said.
Focussed outreach campaigns were carried out on Social Media to encourage the taxpayers to file their ITRs early.
Tax authorities not only achieved record filings but also launched a series of innovative campaigns across multiple platforms. Informational videos in 12 regional languages, alongside English and Hindi, were prominently displayed on digital channels, complemented by extensive outdoor advertising. These initiatives significantly boosted filing numbers.
Recent data highlights a strong uptake in e-verification, essential for processing ITRs and issuing refunds.
The Ministry of Finance reported that over 6.21 crore ITRs have been e-verified, with more than 5.81 crore using Aadhaar-based OTP, representing 93.56 percent. By July 31, 2024, more than 2.69 crore ITRs for the 2024-25 assessment year had been processed, accounting for 43.34 percent of total filings.
The e-filing Helpdesk team managed around 10.64 lakh queries from taxpayers up to July 31, providing proactive support during the peak filing season.
Taxpayers are advised to verify any unverified ITRs within 30 days of submission. Those who missed the filing deadline are urged to complete their ITR submissions promptly.
