The increase is attributed to the initiative of demonetisation and Operation Clean Money, it said. The Central Board of Direct Taxes on Monday said that there has been a substantial increase of 25 per cent in the number of Income Tax Returns (ITRs) filed in the current fiscal year. “The growth in returns filed by individuals is 25.3 per cent with 2,79,39,083 returns having been received up to August 5, 2017 as against 2,22,92,864 returns in the corresponding period of 2016-2017. other than Corporate Tax) as on August 5, showed a growth of about 41.79 per cent over the corresponding period in 2016-2017. However, the Personal Income Tax under Self Assessment Tax (SAT) grew at 34.25 per cent over the corresponding period in the financial year 2016-2017,” the statement added.

Source: Indian Express August 07, 2017 13:35 UTC