ITR Filling: The deadline for filing income tax return in the country is fixed till 31 July 2023 and this year also crores of taxpayers have paid their tax till the last day of July. There have been many states of the country which have been at the forefront of filing income tax returns. Maharashtra, Uttar Pradesh, Gujarat, Rajasthan and West Bengal are the 5 states which have been at the forefront of paying tax.
According to the news of Livemint, out of the total income tax returns filed in the assessment year 2023, the share of these states has been 48 percent. This information has been given in the report of State Bank of India. It is also mentioned in the report that there has been a significant number of taxpayers in the country who have moved from the lower income group to the upper income group.
Which five states saw the highest growth
Overall, 64 lakh more ITRs have been filed in assessment year 2023 as compared to assessment year 2022. Under this, maximum income tax returns have been filed in Maharashtra. After this, Uttar Pradesh, Punjab, Gujarat and Rajasthan are named respectively. On the other hand, in terms of growth, smaller states like Manipur, Mizoram and Nagaland have registered a 20 percent increase in ITR filing during the last 9 years.
This is how the picture of tax payers will change in the country by 2047
It has also been revealed from the SBI report that by the year 2047, the annual income level of the middle class will reach Rs 50 lakh. SBI has brought out this report titled ‘Deciphering Emerging Trends in ITR Filing’ regarding the emerging trends and changes in ITR filing in the country and it also mentions research about the continuous changes in India’s tax system.
6.77 crore income tax returns filed
Earlier, the Income Tax Department had informed that a record 6.77 crore income tax returns have been filed for the assessment year 2023-24 and as on July 31, 2023, there are 53.67 lakh first-time income tax return filers.
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