The surge in filing of income tax returns (ITR) follows the government’s efforts to crack down on tax evasion in the wake of demonetisation last November. The surge in filing of income tax returns (ITR) follows the government’s efforts to crack down on tax evasion in the wake of demonetisation last November. Income Tax returns filed for 2017-18 rose 24.7 per cent year-on-year to 2.83 crore returns as on August 5, as against 2.27 crore returns filed during the corresponding period last year. The tax department had extended the date for income tax returns filing till August 5 from the earlier deadline of July 31. “As a result of demonetisation and Operation Clean Money, there is a substantial increase in the number of income tax returns filed.

Source: Indian Express August 08, 2017 00:23 UTC