I-T Dept shares data showing improved taxpayer compliance
The Income Tax Department released the Time Series Data of Direct Taxes and Income Tax Return statistics, in various tranches, displaying improved Taxpayer compliance. The data shows that the number of ITR filings has shown a consistent upswing over the last few years. The returns filed by individua
The Income Tax Department released the Time Series Data of Direct Taxes and Income Tax Return statistics, in various tranches, displaying improved Taxpayer compliance. The data shows that the number of ITR filings has shown a consistent upswing over the last few years. The returns filed by individual taxpayers have increased from 3.36 crore in Assessment Year (AY) 2013-14 to 6.37 crore in AY 2021-22 registering an overall increase of 90%. During the current fiscal too, 7.41 crore returns have been filed for AY 2023-24 till date, including 53 lakh new first time filers. This is an indication of the widening of the tax base subsequent to various reform measures put in place by the Department.
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