Tax Collection Hits New All-Time High, Setting Unprecedented Records Across The Nation | Paisa Live

The number of individuals filing income tax returns has doubled over the past decade. For the financial year 2013-14, a total of 37.9 million income tax returns were filed, which has surged to 86.1 million in 2023-24. This remarkable increase of 48.1 million filers reflects the government's efforts to enhance tax compliance and broaden the tax base during the tenure of the Modi administration. The rise in filings indicates growing awareness among citizens regarding their tax obligations and the importance of contributing to the nation's economy. This upward trend in income tax returns is a significant milestone and underscores the effectiveness of various initiatives aimed at simplifying the tax filing process and encouraging more individuals to participate in the formal economy.