Business Economy 06 Feb 2019 Income tax returns f ...

Income tax returns filings rose over 37 per cent in April-January

DECCAN CHRONICLE WITH AGENCY INPUTS | Edited by : ARKA CHOWDHURY
Published Feb 6, 2019, 11:01 am IST
Updated Feb 6, 2019, 2:21 pm IST
Between April to January period of the last two financial year, the growth was more subdued at 17 pc and 20 pc, respectively.
At the end of FY14, merely an amount of Rs 3.8 crore e-returns was filed. (Photo: File)
 At the end of FY14, merely an amount of Rs 3.8 crore e-returns was filed. (Photo: File)

New Delhi: The income tax e-returns filed for the April-January period has risen over 37 per cent against the corresponding period in FY18. While over 6.3 crore taxpayers filed returns in the initial ten months of the fiscal, the government is expecting Rs 7.6 crore returns to be filed by the end of FY19 against Rs 6.9 crore in FY18.

Between April to January period of the last two financial year, the growth was more subdued at 17 per cent and 20 per cent, respectively. At the end of FY14, merely an amount of Rs 3.8 crore e-returns was filed. The government has often categorised demonetisation as one of the primary reasons for doubling of I-T returns.

 

The continued strong growth in returns is in line with the government’s targets, given that it has estimated a 20 per cent growth in direct tax collection at Rs 12 lakh crore for FY19.

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Location: India, Delhi, New Delhi




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