Stock, house owners are fastest growing I-T payers

After the pandemic, share of ITR-2 filers in total tax returns has doubled to 14%

- Gireesh Chandra Prasad

The Indian investor’s hard turn to stocks, property and foreign assets after the pandemic shock has been much spoken about. Now, the numbers are showing up in the tax filings.

Individuals with diverse streams of income including rent from multiple properties, capital gains from shares or property or have foreign income or assets, but are not businessmen or professionals, are the fastest growing tribe of income tax payers, indicating the changing makeup of India’s tax base.

Latest data from the income tax department shows that after the pandemic, their share in total tax returns filed in a year has doubled to 14% in the 2024-25 assessment year. In every year since the 2020-21 assessment year, this class remained the fastest growing set of tax return filers, showing their deeper participation in investment activities.