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About 66% taxpayers opted for new ITR filing in current season: CBDT chairman
Jul-25-2024

The Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal has said that about 66 per cent of taxpayers out of the over 40,000,000 filers have opted for the new regime for income tax return (ITR) filing during the current season till now. He noted that the focus of the government and the direct taxes administration is on simplification of the tax processes including filing of ITRs and conduct of other businesses with the Income Tax Department. 

The CBDT chief said about 7.5 crore ITRs were filed the last time at the end of the deadline on July 31, 2024. The current ITR filing season for assessment year 2024-25 will similarly end on July 31 for different categories of taxpayers whose accounts are not supposed to be audited. He said more transactions are being automatically reported to the taxpayers (while filing ITR) and this meant that more information is being made available to the taxpayer.  He said ‘so therefore, we expect that the compliance will be more because simplification is also simultaneously taking place’. 

Agrawal said so far, as the new tax regime is concerned, the government is nudging the taxpayer towards opting for it and therefore this is being sweetened also, by way of changing the tax slabs, which gives benefit to the taxpayers. Talking about the end of the old regime, he said the process was in the ‘transition stage’ and a call would be taken at an appropriate time after it is seen which regime has better acceptability among the taxpayers.


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