ITR-1 to ITR-5 notified: Know how many taxpayers use ITR-1, ITR-2, ITR-3, ITR-4, ITR-5

The Income Tax Department has now notified ITR (income tax return) forms 1, 2, 3, 4, and 5 for FY 2024-25 (AY 2025-26).

How many taxpayers use ITR- to ITR-5?

In FY24 (2023-24), more than 7.28 crore ITRs were filed by taxpayers before July 31, 2024, 7.5% as compared to FY23. Out of the total, 5.27 crore ITRs were filed under the New Tax Regime against just 2 crore ITRs filed in the Old Tax Regime—meaning that 72% of taxpayers opted for the New Tax Regime.

Additionally, from the total 7.28 crore ITRs filed for AY 2024-25 (FY 2023-24), 45.77% of ITRs were ITR-1 (3.34 crore), 14.93% were ITR-2 (1.09 crore), 12.50% were ITR-3 (91.10 lakh), 25.77% were ITR-4 (1.88 crore) and 1.03% were ITR-5 to ITR-7 (7.48 lakh).

While ITR-1 and ITR-4 are for small and medium taxpayers who prefer a simpler process of reporting their income, ITR-2 and ITR-3 are for taxpayers with more complex income sources like capital gains and foreign income. Every year, the IT department notifies the tax return forms, which have details including the category of taxpayer, assessment year and any changes in the forms. Taxpayers need to use these forms based on their categories.

The deadline for filing ITR for the financial year 2024-25 and assessment year 2025-26 for non-audit taxpayers is July 31, 2025.