Income Tax Data For Financial Year 2023

Income Tax Return

A form which a person needs to submit to the IT Department. It has information about their income & the taxes to be paid on it during the year.

Significance of ITR

ITR reflects the economic performance of the country and the financial stability of its citizens at an individual level.

Top 5 states with 47% ITR filing

Maharashtra Uttar Pradesh Gujarat Rajasthan West Bengal

Tax-Filers Count Reduced in Ladakh

Being the sparsely populated state Ladakh, the number of tax filers reduced.

Most Popular Forms

ITR 1 (Resident individuals with ≤ ₹50 lakhs,  and ITR 4 (Resident individuals & HUF with ≤ ₹50 lakhs).

Highest Filed Form

ITR-2 which also includes capital gains has seen the highest filings.

Change in ITR-Form Filing Data

ITR 1: 3.82% ITR 2: 27.45% ITR 2A: 2.88% ITR 3: 4.08% ITR 4: 6.36%

ITR 4S: -37.74% ITR 5: 4.47% ITR 6: 3.30% ITR 7: 0.01%

The Positive Side

To flourish the economy, we need more people gainfully employed, & these numbers are a good indicator that we are on the right track.