India witnessed a rise in income tax return filings for the 2023-24 fiscal year, with over 8.09 crore returns submitted, compared to 7.40 crore the previous year. However, this represents only 6.68% of the population. Interestingly, nearly 4.90 crore individuals reported zero taxable income, a significant increase from the 4.64 lakh reported in 2022-23.
