Do you think income tax compliance has increased over the past 10 years? Yes. There has been a 2.2 times increase in the total number of income tax return (ITR) filers during this period, with more than five times growth in the Rs 50 lakh-plus income category to 9.39 lakh in 2024 from Rs 1.85 lakh back in 2024, official sources told Zee Business. The development comes against the backdrop of a shift in the Income Tax Department’s focus to information sharing from enforcement, they said.
Around 75 lakh income tax assessees filed updated ITRs which amounted to additional tax collections of Rs 8,000 crore by the department, the sources said.
Additionally, about 74 per cent assessees were learned to have filed their income tax returns using the new tax regime.
There seems to be no decline in corporate tax collections due to poor results of companies, they added.
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