More than 4.68 Lakh Taxpayers filed ITR for Income over Rs.1 Crore till Feb 2025

The most recent data released by the income tax department shows that more than 9.11 crore registered users have filed their income tax returns (ITRs) for the financial year 2024-25 as of February 28, 2025. This figure is notable given that the total number of registered users is 13.96 crore, implying that more than 65% of registered users have filed their income tax returns for the current year.

The data shows that the total number of e-verified tax returns up to February 28, 2025 is 8.56 crore.

The income tax department issued a refund of Rs.3.92 lakh crore during FY 2024-25, till February 28, 2025. Notably, more than 40% of users used the tax department’s utility to file returns.

According to ITD data until February 28, 2025, out of these taxpayers, taxpayers with income between Rs.1-5 crore is 3.89 lakh, while those with income beyond Rs.1-5 crore is more than 36,274.

Additionally, 43,004 taxpayers filed an income tax return (ITR) for more than Rs.10 crore. In FY 2024-25, a total of 4,68,658 taxpayers filed returns exceeding Rs.1 crore (3.89 lakh + 36K + 43K).

When seen from the state-wise lens, Maharashtra had 1.38 crore tax filers as of February 28. The corresponding figure for Gujarat was 87.90 lakh, while for Uttar Pradesh it was 90.68 lakh.

The same number of tax payers was 44.45 lakh in Delhi, 30.76 lakh in Andhra Pradesh, and 43.79 lakh in Punjab. The figure for states outside India was 87,501.

There has been a significant increase in tax filing compared to last year across income tax forms. ITR-1 showed 0.11 percent growth, ITR-2 reported 33.89 percent growth, and ITR-3 recorded 15.50 percent growth.

In 2024-25, ITR-6 increased by 5.59 percent, while ITR-5 increased by 6.46 percent over the previous year.