PM Modi's black money drive triggers steep rise in number of income tax returns filed - News Summed Up

PM Modi's black money drive triggers steep rise in number of income tax returns filed


As many as 5.28 crore returns were e-filed in FY16, a rise of 22% over the previous year. Some returns were filed in paper mode as well.The income-tax department had launched a crackdown against tax evaders as part of its war against black money. This data was used to identify evaders who had not filed returns despite having income or not having paid tax in line with incomes. Operation Clean Money , in the wake of demonetisation, made details of such individuals available online. "A substantial chunk of these returns have been filed after the department's communication," said another official aware of the development.


Source: Economic Times May 02, 2017 18:22 UTC



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