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News INCOME TAX

  • Feb 06, 2019
  • Income tax returns filings rose over 37 per cent in April-January

    The income tax e-returns filed for the April-January period has risen over 37 per cent against the corresponding period in FY18. While over 6.3 crore taxpayers filed returns in the initial ten months of the fiscal, the government is expecting Rs 7.6 crore returns to be filed by the end of FY19 against Rs 6.9 crore in FY18.Between April to January period of the last two financial year, the growth was more subdued at 17 per cent and 20 per cent, respectively. At the end of FY14, merely an amount of Rs 3.8 crore e-returns was filed. The government has often categorised demonetisation as one of the primary reasons for doubling of I-T returns.