ITR Filing 2024: How Many People Filed Taxes For The First Time For AY 2024-25? Check What FM Nirmala Sitharaman Said | Personal Finance News

Union Minister of Finance & Corporate Affairs Nirmala Sitharaman, presiding over the 165th anniversary of Income Tax Day observed by Central Board of Direct Taxes (CBDT), in New Delhi, thanked these taxpayers for voluntarily coming forward to pay their due taxes.

“Underlining the growing trust of taxpayers towards the Department, the Union Finance Minister further expressed her heartfelt gratitude to the honest taxpayers for their contribution in delivering on welfare & development, appreciating the fact that there were 58.57 lakh first-time ITR filers for AY 2024-25. It showcased that India was getting more formalized as an economy and more people are coming forward to voluntarily pay taxes, She said,” FM Sitharaman said.

The Union Finance Minister also commended the Department for achieving the highest ever tax collection; as also the success of the faceless assessment and appeals regime. 

Sitharaman exhorted the Department to be fair and friendly and ensure that there is improved taxpayer experience. 

“The tax notices should be temperate, simple and easy to understand for the taxpayer,” she said.

The Union Finance Minister underlined judicious use of power to ensure compliance, not create fear among the taxpayers and laid emphasis on speedy issue of refunds and following of due process to encourage voluntary compliance. At the same time, Smt. Sitharaman emphasised upon capacity building especially in terms of adopting global best practices in tax administration.