Record-Breaking 7.28 Crore Income Tax Returns Filed by Deadline

A record 7.28 crore income tax returns were filed by July 31 for assessment year 2024-25, up from 6.77 crore last year. Of these, 5.27 crore were under the new tax regime. Filing peaked on July 31 with 69.92 lakh returns, and 58.57 lakh new filers joined.

A record-breaking 7.28 crore income tax returns were filed by the July 31 deadline for the assessment year 2024-25, the income tax department announced on Friday.

This figure marks an increase from the 6.77 crore returns filed last year. According to the department, out of the total returns for AY 2024-25, 5.27 crore were submitted under the new tax regime, while 2.01 crore were under the old regime.

The department noted that July 31 saw a peak in filings, with over 69.92 lakh returns submitted in a single day. Additionally, 58.57 lakh returns came from first-time filers, signaling an expansion of the tax base.