Income Tax Return Statistics for AY 2023-24

The Income Tax Department released detailed statistics for the Assessment Year (AY) 2023-24, highlighting significant trends in tax compliance and revenue collection. The data revealed an increase in the number of tax returns filed compared to the previous year, with a notable rise in digital filing. The statistics also showed a broadening tax base with more individuals and entities coming under the tax net. Additionally, the report highlighted the government’s successful initiatives to enhance transparency and ease of filing through technological advancements. These efforts have led to improved tax collection and compliance across various sectors.