Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

New Delhi, 07th August, 2017.

PRESS RELEASE

25% growth in number of Income Tax Returns filed in current fiscal Advance Tax (Personal Income Tax) collections up by 41%

As a result of demonetization and Operation Clean Money, there is a substantial increase in the number of Income Tax Returns(ITRs) filed. The number of Returns filed as on 05.08.2017 stands at 2,82,92,955 as against 2,26,97,843 filed during the corresponding period of F.Y. 2016-2017, registering an increase of 24.7% compared to growth rate of 9.9% in the previous year. The growth in returns filed by Individuals is 25.3% with 2,79,39,083 returns having been received upto 05.08.2017 as against 2,22,92,864 returns in the corresponding period of F.Y. 2016-2017. This clearly shows that substantial number of new tax payers have been brought into the tax net subsequent to demonetization.

The effect of demonetization is also clearly visible in the growth in Direct Tax Collections. Advance Tax collections of Personal Income Tax (i.e. other than Corporate Tax) as on 05.08.2017 showed a growth of about 41.79% over the corresponding period in F.Y. 2016-2017. Personal Income Tax under Self Assessment Tax (SAT) grew at 34.25% over the corresponding period in F.Y. 2016-2017.

The above figures amply demonstrate the positive results of the Government’s commitment to fight the menace of black money. CBDT is committed in its resolve to eradicate tax evasion in a non intrusive manner and widening of tax base.

(Surabhi Ahluwalia)

Commissioner of Income Tax

(Media & Technical Policy)

Official Spokesperson, CBDT

Tax compliance growth signals a widened tax base and higher advance personal tax collections after anti black money measures. Significant increases in taxpayer compliance and personal advance tax collections are reported following demonetization and Operation Clean Money, driven by a marked rise in individual Income Tax Returns filing that indicates new entrants into the tax net; the CBDT presents year on year growth in Advance Personal Income Tax and Self Assessment Tax collections as evidence of a widened tax base and improved compliance resulting from non intrusive anti evasion measures.