In the case of individuals, the increase was to the tune of 25.1%, with the number of returns filed estimated at 2.79 crore. This translates to an increase of nearly 56.5 lakh returns so far this year, with assessees having the option to file returns for a few more months without having to pay any penalty. Advance tax paid by individuals increased by close to 42% till August 5, while personal income tax through self-assessment saw a 34% rise. In May, the government had said that it had identified at least one lakh "highrisk individuals" with more than Rs 1.72 lakh crore deposits. Those with unexplained deposits of Rs 25 lakh or more during demonetisation have been put in this category.

Source: Times of India August 07, 2017 23:00 UTC