Business

Over 9 crore Individuals Submitted ITRs by February 28, with High-Income Taxpayers Exceeding 4.6 Lakh

Published

1 year ago

March 19, 2025

According to the latest data from the Income Tax Department, over 9 crore individuals have submitted their income tax returns (ITR) for the financial year 2025, as of February 28. Among these, more than 4 lakh taxpayers reported incomes exceeding Rs 1 crore.

The data reveals that approximately 3.89 lakh taxpayers declared earnings between Rs 1 crore and Rs 5 crore, while around 36,274 individuals reported incomes between Rs 5 crore and Rs 10 crore. Additionally, 43,004 people disclosed earnings beyond Rs 10 crore, bringing the total number of high-income taxpayers (earning more than Rs 1 crore) to 4,68,658.

With the deadline for filing ITR approaching on March 31, these numbers are expected to rise. Currently, over 9.11 crore taxpayers have completed their filings. India has a total of 13.96 crore registered taxpayers, indicating that nearly 65% have already submitted their returns.

Furthermore, approximately 8.56 crore tax returns have undergone e-verification, and the tax department has issued refunds totaling Rs 3.92 lakh crore.

Maharashtra topped the list with the highest number of tax filings, submitting 1.38 crore returns. Uttar Pradesh followed with 90.68 lakh returns, while Gujarat recorded 87.90 lakh filings. In Delhi, 44.45 lakh individuals filed their returns, while Andhra Pradesh and Punjab reported 30.76 lakh and 43.79 lakh filings, respectively.

In terms of ITR categories, ITR-1 filings saw a modest growth of 0.11%, while ITR-2 experienced a notable increase of 33.89%. ITR-3 filings grew by 15.50%, and ITR-5 and ITR-6 filings rose by 6.46% and 5.59%, respectively, according to the Income Tax Department.

Meanwhile, the department announced earlier today that direct tax collections have exhibited strong growth of 16.2%, reaching Rs 25.86 lakh crore from April 1, 2024, to March 16, 2025, compared to the same period last year (FY24).

Business

Tomato Prices Crash from Rs.1200 to Rs.80, Farmers in Distress

Published

3 weeks ago

March 25, 2026

Namma Kudla

Business: Tomato prices in Vijayanagara district have dropped sharply, causing heavy losses to farmers and traders. A box of tomatoes that was earlier sold for Rs.1000 to Rs.1200 is now being sold for just Rs.80 to Rs.100.

Due to the sudden fall in prices, farmers are struggling to recover their investment. Many had taken loans to grow the crop and are now facing financial difficulties.

In local markets, traders are selling tomatoes at very low rates. Around 2 to 4 kilograms of tomatoes are being sold for just Rs.20.

The price crash has been linked to multiple reasons. Export of tomatoes to other countries has reduced due to the Iran–Israel conflict. In addition, many hotels are not operating properly due to a shortage of cooking gas cylinders. This has reduced demand for tomatoes.

As a result, both farmers and sellers are facing serious losses, and the situation has become very difficult for them.

Business

Gold Prices Rise in Mangaluru; 24K Gold at Rs.13,564 per Gram

Published

3 weeks ago

March 24, 2026

Namma Kudla

Mangaluru: Gold prices in the coastal city of Mangaluru have been updated today, reflecting the latest market trends.

The price of 24 karat gold (99.9% purity) stands at Rs.13,564 per gram. Meanwhile, 22 karat gold (91.6% purity) is priced at Rs.12,434 per gram. The rate for 18 karat gold (75% purity) is Rs.10,173 per gram.

Mangaluru, known for its rich coastal culture and love for seafood, also has a deep connection with gold. The demand for gold ornaments in the city remains strong, especially during weddings and festivals.

The gold trade in Mangaluru has a long history and continues to play an important role in the local economy. Many families prefer investing in gold due to its cultural and financial value.

Buyers are advised to check the latest rates before making any purchase, as gold prices may change daily based on market conditions.

For those planning to buy gold, using a Gold Rate Calculator can help in getting accurate pricing based on weight and purity.

Business

Good News for Milk Producers in Chikkaballapur – 50 Paise Increase per Litre

Published

1 month ago

March 8, 2026

Namma Kudla

Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.

Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.

With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.

Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.

The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.