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News INCOME TAX

  • May 03, 2019
  • Income tax returns shrink in FY19 as demonetisation effect wanes

    After clocking steep growth rates over the last few years (an average of 25% in the three years to FY18), the number of taxpayers filing income-tax e-returns saw a marginal contraction in FY19. In FY19, only 6.68 crore returns were filed online, 1% lower than 6.74 crore filed in FY18. Though e-returns for a year continue to trickle in during the subsequent few years and so the FY19 e-filing figure could slightly look up over time, it is clear from the latest data released by the Central Board of Direct Taxes.