NEW DELHI: Income tax returns (ITRs) touched a brand new report of almost 7.3 crore, 7.5% larger in comparison with 6.8 crore in earlier fiscal, by the July 31 deadline, the revenue tax department stated on Friday.
“Out of the total ITRs of 7.3 crore filed for AY2024-25, 5.3 crore have been filed in the new tax regime compared to over 2 crore ITRs filed in the old tax regime,” it stated.Thus, about 72% of taxpayers have opted for the brand new tax regime, whereas 28% proceed to be within the previous tax regime.
“Out of the total ITRs of 7.3 crore filed for AY2024-25, 5.3 crore have been filed in the new tax regime compared to over 2 crore ITRs filed in the old tax regime,” it stated.Thus, about 72% of taxpayers have opted for the brand new tax regime, whereas 28% proceed to be within the previous tax regime.
