The taxpayers and tax professionals in New Delhi have successfully made their compliances in time, resulting in a record surge in the filing of Income-tax Returns (ITRs) until July 31, 2024. The total number of ITRs filed for assessment year 2024-25 surpassed 7.28 crore, which is 7.5 per cent higher than the previous year’s total of 6.77 crore ITRs. This increase in filings has been attributed to an increasing number of taxpayers opting for the New Tax Regime. Out of the 7.28 crore ITRs filed, 5.27 crore have been under the New Tax Regime, while 2.01 crore were under the Old Tax Regime, indicating a significant 72 per cent adoption rate for the new regime.
The filing of ITRs peaked on July 31, 2024, with over 69.92 lakh ITRs filed on that day, the due date for salaried taxpayers and other non-tax audit cases. The e-filing portal also experienced its highest per hour rate of ITR filing between 07:00 pm to 08:00 pm on July 31. Furthermore, a total of 58.57 lakh ITRs from first-time filers were reported, a clear sign of the widening tax base and growing compliance among new taxpayers. The efforts to educate taxpayers about the Old and New tax regimes through FAQs, educational videos, social media outreach campaigns, and multilingual informational videos have contributed to the increased number of filings.
The Ministry of Finance emphasized the importance of e-verification to begin processing ITRs and issuing refunds. As of July 31, over 6.21 crore ITRs have been e-verified, with more than 93.56 per cent using Aadhaar-based OTP verification. Additionally, more than 2.69 crore ITRs for the 2024-25 assessment year have been processed, accounting for 43.34 per cent of the total e-verified ITRs. The e-filing Helpdesk team has assisted approximately 10.64 lakh taxpayer queries during the year, providing proactive support during peak filing periods.
Taxpayers are encouraged to verify any unverified ITRs within 30 days of filing and urged to complete their filing promptly if they missed the due date for any reason. The ministry’s efforts in carrying out focused outreach campaigns, unique creative campaigns, multilingual educational videos, and outdoor campaigns have led to successful results with an increased number of filings. The data on ITR filing over the past few years has reflected a positive trend, showcasing the growing compliance among taxpayers and the success of the government’s initiatives to streamline the tax filing process and encourage early compliance.
Overall, the record surge in ITR filings in New Delhi until July 31, 2024, demonstrates the commitment of taxpayers and tax professionals to timely compliance, growing adoption of the New Tax Regime, and expanding the tax base. The Ministry of Finance’s proactive efforts in educating taxpayers, facilitating e-verification, and providing support through the e-filing Helpdesk have paved the way for successful tax filing seasons and increased efficiency in processing ITRs. Taxpayers are encouraged to continue complying with tax regulations, verifying their ITRs promptly, and utilizing the resources provided by the government to ensure smooth and efficient tax filing experiences in the future.
