over-3-lakh-crorepatis-file-itr-before-deadline

As the financial year 2024-25 drew to a close, over 3.24 lakh individuals in India filed their income tax returns (ITR) for incomes exceeding ₹1 crore.

 

According to data published on the official Income Tax portal, this figure forms part of a broader group of 3.89 lakh high-income taxpayers, which includes companies, firms, Hindu Undivided Families (HUFs), trusts, government bodies, and other entities.

 

Among the individual taxpayers, a significant majority – approximately 2.97 lakh – reported incomes in the range of ₹1 crore to ₹5 crore. A further 16,797 individuals declared incomes between ₹5 crore and ₹10 crore, while 10,184 taxpayers filed returns for incomes exceeding ₹10 crore.

 

When aggregating data from all categories of taxpayers, the total number of filings for incomes above ₹1 crore reached more than 4.68 lakh. Of these, 3.89 lakh declared incomes in the ₹1-5 crore bracket.

 

Over 36,000 filers belonged to the ₹5-10 crore income group, and around 43,000 reported incomes above ₹10 crore.

 

The total number of registered users on the Income Tax Department’s e-filing portal now stands at 14.01 crore. Among them, individual users make up 12.91 crore.

 

More than 11.86 crore of these individuals have linked their Aadhaar numbers with their PAN cards, a key requirement for seamless ITR filing and verification.

 

As of 31 March 2025, the total number of income tax returns filed for the financial year touched 9.19 crore. Out of these, 8.64 crore have been successfully e-verified, indicating a high rate of compliance among taxpayers.

 

There has also been notable growth in ITR filings across different forms compared to the previous financial year. ITR-2, commonly used by individuals with income from capital gains, saw a sharp increase of 34.69 per cent.

 

ITR-3, meant for individuals and HUFs with income from business or profession, recorded a rise of 16.66 per cent. Meanwhile, ITR-1, which is used by salaried individuals, showed a modest increase of 0.54 per cent.

 

When viewed cumulatively across all forms, the overall growth in ITR filings stands at 7.81 per cent, reflecting a broader trend of rising tax compliance and an expanding tax base.

 

This growth in the number of high-income filers signals a strong momentum in formal economic participation and may indicate the growing prosperity of a certain segment of Indian society.