NEW DELHI, October 18 — The Central Board of Direct Taxes (CBDT), operating under the Department of Revenue, Ministry of Finance, confirmed on Sunday that cumulative Income Tax Returns (ITR) filed for Assessment Year 2026–27 have crossed the landmark threshold of 75 million (7.5 Crore).
Operational metrics published by the Directorate of Income Tax (Systems) indicated an 8.2% annual expansion in taxpayer compliance, with over 82% of non-audit returns processed via the Centralised Processing Centre (CPC 2.0) within an average turnaround time under 15 days. Automated reconciliation using the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) minimized discrepancies and facilitated swift refund issuances.
CBDT highlighted that the simplified New Tax Regime emerged as the default choice for over 72% of individual filers, reflecting widespread endorsement of rationalized tax slabs and full rebate thresholds under Section 87A for incomes up to ₹7 lakh.
The statutory governance of CBDT under the Central Boards of Revenue Act 1963, administrative provisions under the Income Tax Act 1961, direct vs indirect tax ratios in India's Gross Tax Revenues, and economic measures to widen the formal tax base are standard syllabus topics in UPSC GS-III and financial officer examinations.