CBDT is very happy to record 71% in I-T return filing
By TIOL News Service
NEW DELHI, SEPT 01, 2018: THERE has been a marked improvement in the number of Income Tax Returns filed during FY 2018 (upto August 31, 2018 which was the extended due date of filing, compared to the corresponding period in the preceding year. The total number of ITRs e-filed upto August 31, 2018 was 5.42 crores as against 3.17 crores upto August 31, 2017, marking an increase of 70.86%. Almost 34.95 lakh returns were uploaded on August 31, 2018 itself, being the last date of the extended due date of filing of ITRs.
A remarkable increase is seen in the number of ITRs in two categories, i.e., ITRs filed by salaried Individuals (ITR-1& 2) as also those availing the benefit of the Presumptive Taxation Scheme (ITR-4). The total number of e-returns of salaried Individual taxpayers filed till August 31, 2018 increased to 3.37 crores from 2.19 crore returns filed during the corresponding period of 2017, registering an increase of 1.18 crore returns translating into a growth of almost 54%.
A stupendous growth has been witnessed in the number of returns e-filed by persons availing the benefit of Presumptive Tax, with 1.17 crore returns having been filed upto August 31, 2018 compared to 14.93 lakh returns upto August 31, 2017 registering a massive increase of 681.69 %. The increase in the number of returns reveals a marked improvement in the level of voluntary compliance of taxpayers which can be attributed to several factors, including the impact of demonetisation, enhanced persuasion & education of taxpayers as also the impending provision of late fee which would be effective on late filing of returns. This is indicative of an India moving steadily towards a more tax compliant society & reflects the impact of continuous leveraging of technology to improve taxpayer service delivery.
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