Income tax return submission is on the rise in India. The income of income tax payers has also increased 3 times in the last 9 years. Income tax return submission is on the rise in India. The income of income tax payers has also increased 3 times in the last 9 years. prime minister Narendra Modi expressed happiness that this is a sign that india is taking a step towards a new era of economic prosperity. In his Independence Day speech, Modi announced that india will become a developed country by 2047, and now he has shared two reports that complement it. The prime minister wrote on Linkedin about the report of sbi Research and journalist Anil Padmanabhan regarding tax payment, and these reports say that india is making tremendous progress towards emerging as a developed country by 2047. He said that we are moving towards a new era of equitable and comprehensive development. According to the sbi Research report, the income of IT returns filers has increased from Rs 4.4 lakh in 2014 to Rs 13 lakh in 2023. Referring to this, Modi said that if the wealth of the people increases, the country will develop. Obviously we are on our way to realize the dream of a developed india by 2027.
Increase in number of tax returns:
In the article by journalist Anil Padmanabhan, there is a fact that between 2014 and 2023, the rate of submission of income tax returns in the country has increased several times. Referring to that, Modi said that the number of income tax filers in the states is increasing massively. Uttar Pradesh (UP) is at No.1, where 1.65 lakh people filed returns in 2014 and 11.92 lakh people filed returns in 2023. He said that the submission of tax returns is also increasing in small states like Manipur, Mizoram and Nagaland.
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