News Details- (Get Professional Updates on Whatsapp, Msg on
8285393786) More
News
No inconsistency in number of tax payers - CBDT
The tax department on Friday said the number of individuals filing income tax returns has jumped to 2.79 crore this year from 2.23 crore last year, matching with the 56 lakh new tax payer addition stated by Prime Minister Narendra Modi.
The statement by the tax department follows some doubting the numbers over different figures quoted at different points of time.
"The Prime Minister's speech (on August 15) referred to the increase in number of e-filed Personal Income Tax Returns (ITRs) filed from April 1, 2017 to August 5, 2017 over the ITRs filed in corresponding period of earlier years.
"The data maintained by the Income Tax Department shows that during April 1, 2017 to August 5, 2017, 2.79 crore e- returns of individual taxpayers were received as against 2.23 crore e-returns received during April 1, 2016 to August 5, 2016. Thus, the additional ITRs received in 2017 works out to be 56 lakh," CBDT said in a statement.
In 2015, 2 crore e-returns were received. This meant that 23 lakh additional tax payers filed returns in 2016.
A top finance ministry official said the people are trying to find fault where none lies.
"The CBDT had in a press statement on August 7 released the very same numbers and what the Prime Minister said in his independence day speech was exactly in line with that," he said.
Regarding the Economic Survey Vol.2 released on August 12, mentioning of 5.4 lakh new taxpayers, he said on page-22 of the report it is clearly stated that the numbers are for the period November 8, 2016 to March 2017. "This means they are the additions made in tax payers post demonetisation in the previous year."
On the 33 lakh new taxpayer number given in reply to a question in Rajya Sabha on August 1, he said that information was dated and not the complete information, which came only after the last date of filing of returns ended on August 5.
"There is no inconsistency in the data provided by the Government in the (different) statements... as these are in different contexts and for different time periods," the tax department statement said.
On Finance Minister Arun Jaitley's May 17 statement, the CBDT said: "The addition of 91 lakh taxpayers to the tax-base referred to the total number of new returns filed during the entire financial year 2016-17 and therefore, it is neither comparable to the data in Prime Minister's speech nor with the data in Economic Survey (different period and different type of taxpayers)."
It added that the number of tax filers is likely to "rise significantly" above the 2.79 crore returns e-filed as "many more taxpayers are still to file their returns" #casansaar (Source - PTI)
The statement by the tax department follows some doubting the numbers over different figures quoted at different points of time.
"The Prime Minister's speech (on August 15) referred to the increase in number of e-filed Personal Income Tax Returns (ITRs) filed from April 1, 2017 to August 5, 2017 over the ITRs filed in corresponding period of earlier years.
"The data maintained by the Income Tax Department shows that during April 1, 2017 to August 5, 2017, 2.79 crore e- returns of individual taxpayers were received as against 2.23 crore e-returns received during April 1, 2016 to August 5, 2016. Thus, the additional ITRs received in 2017 works out to be 56 lakh," CBDT said in a statement.
In 2015, 2 crore e-returns were received. This meant that 23 lakh additional tax payers filed returns in 2016.
A top finance ministry official said the people are trying to find fault where none lies.
"The CBDT had in a press statement on August 7 released the very same numbers and what the Prime Minister said in his independence day speech was exactly in line with that," he said.
Regarding the Economic Survey Vol.2 released on August 12, mentioning of 5.4 lakh new taxpayers, he said on page-22 of the report it is clearly stated that the numbers are for the period November 8, 2016 to March 2017. "This means they are the additions made in tax payers post demonetisation in the previous year."
On the 33 lakh new taxpayer number given in reply to a question in Rajya Sabha on August 1, he said that information was dated and not the complete information, which came only after the last date of filing of returns ended on August 5.
"There is no inconsistency in the data provided by the Government in the (different) statements... as these are in different contexts and for different time periods," the tax department statement said.
On Finance Minister Arun Jaitley's May 17 statement, the CBDT said: "The addition of 91 lakh taxpayers to the tax-base referred to the total number of new returns filed during the entire financial year 2016-17 and therefore, it is neither comparable to the data in Prime Minister's speech nor with the data in Economic Survey (different period and different type of taxpayers)."
It added that the number of tax filers is likely to "rise significantly" above the 2.79 crore returns e-filed as "many more taxpayers are still to file their returns" #casansaar (Source - PTI)
Category : CBDT | Comments : 0 | Hits : 421
Get Free Daily Updates Via e-Mail on Income Tax, Service tax, Excise and Corporate law
Search News
News By Categories More Categories
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000

Comments