The taxpayers and tax professionals made their compliances in time, leading to a surge in filing of ITRs which resulted in a new record of ITRs filed, it said.
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The total number of Income-Tax Returns (ITRs) for AY 2024-25 filed till 31st July, 2024 is more than 7.28 crore, which is 7.5 per cent more than the total ITRs for AY 2023-24 at 6.77 crore filed till 31st July, 2023, the Ministry of Finance said on Friday.
An increasing number of taxpayers have opted for the New Tax Regime this year. Out of the total ITRs of 7.28 crore filed for AY 2024-25, 5.27 crore have been filed in the New Tax Regime compared to 2.01 crore ITRs filed in the Old Tax Regime.
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Thus, about 72 per cent of taxpayers have opted for the New Tax Regime, while 28% continue to be in the Old Tax Regime, the data said.
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As per the data shared by the ministry, the filing of ITRs peaked on the due date for salaried taxpayers and other non-tax audit cases (31st July) with over 69.92 lakh ITRs being filed on a single day i.e. on 31st July, 2024.
The e-filing portal also observed its highest per hour rate of 5.07 lakh of ITR filing between 7pm to 8pm on 31.07.2024. The highest per second rate of ITR filing was 917 (17.07.2024, 08:13:54 am) and highest per minute rate of ITR filing was 9,367 (31.07.2024, 08:08 pm).
The Department also received 58.57 lakh ITRs till 31.07.2024 from first time filers, a fair indication of widening of tax base.
Further, out of the 7.28 crore ITRs filed, 45.77% are ITR-1 (3.34 crore), 14.93% are ITR-2 (1.09 crore), 12.50% are ITR-3 (91.10 lakh), 25.77% are ITR-4 (1.88 crore) and 1.03% are ITR-5 to ITR-7 (7.48 lakh).
Over 43.82% of these ITRs have been filed using the online ITR utility available on the e-filing portal and the balance have been filed using offline ITR utilities.
During the peak filing period, the e-filing portal successfully handled huge traffic as on 31st July alone, successful logins stood at 3.2 crore.
Over 6.21 crore ITRs have been e-verified, out of which more than 5.81 crore are through Aadhaar based OTP (93.56%). Of the e-verified ITRs, more than 2.69 crore ITRs for the AY 2024-2025 have been processed (43.34%) till 31st July, 2024.
Over 91.94 lakh challans have been received through TIN 2.0 payment system in the month of July, 2024 (for AY 2024-25), while total number of challans filed through TIN 2.0 since 1st April, 2024 stands at 1.64 crore (for AY 2024-25).
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