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Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
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Over 9 Cr People Filed ITR Till Feb 28, High-Income Taxpayers Stand Over 4.6 Lakh

OMMCOM NEWS by OMMCOM NEWS
March 18, 2025
in Business

New Delhi:  More than 9 crore people have filed their income tax returns (ITR) for the financial year 2025 (as of February 28), according to latest data from the Income Tax Department.

Among them, over 4 lakh taxpayers have reported an income of more than Rs 1 crore.

The data shows that approximately 3.89 lakh taxpayers declared an income between Rs 1 crore and Rs 5 crore, while around 36,274 individuals reported earnings between Rs 5 crore and Rs 10 crore.

Additionally, 43,004 people disclosed an income exceeding Rs 10 crore. This brings the total number of high-income taxpayers (earning above Rs 1 crore) to 4,68,658.

These figures are expected to increase as the last date to file income tax returns is March 31.

So far, over 9.11 crore people have completed their ITR filings. The total number of registered taxpayers in India stands at 13.96 crore, meaning that nearly 65 per cent of them have already submitted their returns.

Additionally, around 8.56 crore tax returns have been e-verified, and refunds amounting to Rs 3.92 lakh crore have been issued by the tax department.

Maharashtra recorded the highest number of tax filings, with 1.38 crore returns submitted. Uttar Pradesh followed with 90.68 lakh returns, while Gujarat reported 87.90 lakh filings.

In Delhi, 44.45 lakh people filed their returns, while Andhra Pradesh and Punjab recorded 30.76 lakh and 43.79 lakh filings, respectively.

Among different ITR categories, ITR-1 filings grew by 0.11 per cent, while ITR-2 saw a significant increase of 33.89 per cent.

ITR-3 filings rose by 15.50 per cent, and ITR-5 and ITR-6 filings saw growth of 6.46 per cent and 5.59 per cent, respectively, as per the Income Tax Department.

Meanwhile, earlier in the day, the department said that the direct tax collections witnessed a robust growth of 16.2 per cent to Rs 25.86 lakh crore during April 1, 2024 – March 16, 2025 of the current financial year (FY25) compared to the same period of the previous financial year (FY24).

(IANS)

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