There are more than 9.19 crore income tax filers during financial year 2024-25 upto March 31, 2025, shows data on Income Tax e-portal.
Number of e-verified returns upto March 31 during 2024-25 were 8.64 crore. Amount of refund issued upto March 31, 2025 during FY 2024-25 was ₹4,35,008 crore.
When you look at the past three year data, the number of returns has been growing at a frantic pace.
While the number of total returns filed stands at 9.19 crore, the corresponding number last year (FY 2024) was 8.52 crore and in FY 2023, it was 7.78 crore.
The table above clearly shows that there was a massive spike in the number of income tax returns filed. Against the previous year’s data, the spike this year stood at 7 percent. And when compared to fiscal 2023, the spike this year was 18 percent.
States which saw maximum ITR filers include Maharashtra (1.39 crore), Delhi (44.66 lakh), Gujarat (88.58 lakh), Karnataka (53.62 lakh), Rajasthan (59.77 lakh), UP (91.38 lakh), Punjab (44.26 lakh) and Tamil Nadu (57.27 lakh).
Maximum income tax returns (4.19 crore) were filed by those earning less than ₹5 lakh. Tax filers earning between ₹5-10 lakh were 3.4 crore and there were 1.34 crore tax payers who declared their income between ₹10-50 lakh.
Experts believe that there are several reasons for this jump. Some believe that this is because the income levels have increased, while others believe that this may be because filing tax returns has become easier on account of technological advancement.
Hemen Asher, Partner at Bhuta Shah & Co LLP, believes that rising participation of retail investors in the stock market is one of the primary reasons for the increase.
Income over ₹1 crore
Meanwhile, a total of 3.24 lakh individuals filed their income tax return for over ₹1 crore before March 31, 2025. Out of these, a total of 2.97 lakh individuals filed their tax return for income between ₹1 to ₹5 crore.
Taxpayers who filed their income tax returns (ITR) between ₹5-10 crore are 16,797 and those who filed their income tax returns for more than ₹10 crore are 10,184, shows the latest data on Income Tax (I-T) portal.
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