Can you guess the number of people in India who declared a tax liability in their income tax returns last year, i.e. Assessment Year 2022-23 (AY 2022-23)? What if the answer is roughly equal to the population of Delhi?
Surprised? Well, don't be.
74 million tax returns were filed in AY 2022-23. This data was disclosed in the Parliament on Monday. Of these 74 million income tax returns, 51.6 million had zero tax liability.
In other words, only 22.4 million people filed non-zero income tax returns in AY 2022-23. And Delhi's population is 21.4 million, according to government projections.
Maharashtra accounted for the largest number of returns filed at 3.9 million. Uttar Pradesh was second with 1.9 million, while it was 1.8 million for Tamil Nadu. The top five states accounted for nearly half of all returns filed. Only nine states and union territories had more than a million non-zero returns. Other than those mentioned above, it included Karnataka, Gujarat, Delhi, West Bengal, Rajasthan and Telangana.
Also Read
Filing ITR? Don't forget to declare your income from other sources
Explained: How consultants and freelancers can file their ITR
Everything you need to know about ITR refunds for AY 2022-2023
Income tax return: What is NIL ITR? Who is eligible, what are the benefits
Filing ITR for crypto gains: Here's your guide on taxation for VDAs
RBI likely bought dollars in spot via PSBs, paid in far forwards: Traders
Co-0238, India's wonder sugarcane variety tries to get its juice back
Widespread cereal shortages may further fuel India's inflation, says HSBC
Use of multiple PAN cards for weddings, IVF under scrutiny of I-T officials
India works to bridge language divide at G20 summit over Ukraine war