only-6-68-pc-of-indians-filed-income-tax-returns-in-fy24

Only 6.68 per cent of India's population filed income tax returns in the 2023-24 fiscal year, Parliament was informed on Tuesday.

 

Minister of State for Finance Pankaj Chaudhary stated that there has been an increase in the filing of income tax returns, with over 8.09 crore returns filed in the 2023-24 fiscal year, up from over 7.40 crore in 2022-23. In FY22, the number of returns filed was over 6.96 crore, compared to over 6.72 crore in FY21 and over 6.48 crore in FY20.

 

"In FY 2023-24, the percentage of the population filing income tax returns is 6.68 per cent. (In FY 2023-24, the total number of individuals filing income tax returns is 8,09,03,315)," Chaudhary said in a written reply to the Rajya Sabha.

 

He also mentioned that the total number of individuals reporting zero taxable income in their income tax returns for the Assessment Year 2023-24 is 4.90 crore, up from 4.64 crore in 2022-23.