The e-filing of income tax returns (ITRs) went up by 17 per cent post demonetisation, while the rise in the 'individual filers' category was over 23 per cent, according to official data. A senior Income Tax Department officer, supervising these activities, attributed the rise to the withdrawal of two high-value currency notes of Rs 500 and Rs 1,000 from circulation by the government on November 8 last year. ITR-1 or 'Sahaj' filers are called 'individual filers' in income tax parlance. The tax department had asked people to file their returns so that they are clean when it comes to making any transaction in the wake of the note ban," the officer said. The I-T department has already chosen 20,572 tax returns for "detailed scrutiny" suspecting discrepancies in incomes before and after demonetisation, official sources said yesterday.

Source: Economic Times November 07, 2017 09:56 UTC