Karnataka sees 26% rise in women income tax filers over five years

Karnataka has recorded a significant 26% growth in the number of women filing income tax returns over the past five years, reflecting a positive trend in women's financial participation. According to data from the finance ministry, the number of women tax filers rose to 14.3 lakh in the assessment year (AY) 2023-24, compared to 11.3 lakh in AY 2019-20.

Also read: BBMP to hire financial consultancy firm for Tunnel Road, Sky Deck projects

While the trend largely showed consistent growth, there was a minor setback during AY 2020-21, when the number of women filers dipped slightly to 11 lakh. This was likely influenced by pandemic-related economic disruptions. However, the state rebounded swiftly, with 11.7 lakh women filing returns in AY 2021-22, followed by steady increases in the subsequent years.

Experts attribute this rise to growing financial literacy, women’s increasing participation in the workforce, and policies encouraging individual tax compliance. Karnataka’s performance underscores a broader national movement towards gender-inclusive financial growth.

The upward trajectory highlights the evolving role of women in economic activities, as more individuals take charge of their finances. This trend is expected to gain further momentum with initiatives aimed at empowering women entrepreneurs and professionals.

The data showcases Karnataka as a state leading the charge in fostering financial independence among women, setting a benchmark for other regions in the country.