According to sources in the income tax department, the number of Income Tax Returns filed in Gujarat in FY 2021–22 increased by 3% from the prior year to 80.72 lakh. According to figures released by the Union Finance Ministry last week, Gujarat accounted for 9.4% of the 5.83 crores ITRs that were filed nationwide as of July 31, 2022.
However, the percentage growth in the number of ITRs in the state has decreased year by year. As for the ITRs filed for FY 2020–21, the state reported 73.37 lakh. But with 80.72 lakh ITRs submitted for 2021–2022, the percentage only went up by 3%.
Compared to the previous year, there were 7.45 lakh individual ITS submitted, an increase of 2.08 lakh filers or 2.88%.
Firms submitted 2.31 lakh ITRs in 2022–23 compared to 2.21 lakh in 2021–22, an increase of 7,464 returns over the prior year, or 3.33%.
Hindu Undivided Families (HUF) filings also saw a slight increase, up to 3110 ITRs or 1.43%, to 2.20 lakh for FY 2021–22.
61,482 ITRs for businesses were submitted as opposed to 57,713 the year before, an increase of 3,769 or 6.53%.
When compared to the year before, there were 631 more ITRs filed by trusts, totalling 38,886 for the fiscal year 2022–23 as opposed to 38,255.
Entities like the Association of Persons or Body of Individuals (AOP/BOI), whose number of return filers climbed from 28,163 for FY 2021–2022 to 31,245 for FY 2022–2023, also saw an increase in filings. This is an increase of 3,082 such entities, which filed by 10.94% more.