Government today said there has been a substantial increase in the number of Income Tax Returns (ITRs) filed due to demonetization and Operation Clean Money. <br/><br/>Finance Ministry said in a statement, the number of returns filed has registered an increase of around 25 per cent compared to 10 per cent in the previous year. <br/><br/>It said, as on last Saturday, more than two crore 82 lakh ITRs were filed as against around two crore 27 lakh filed in the last financial year. <br/><br/>The Ministry said, this clearly shows that substantial number of new tax payers have been brought into the tax net following demonetization.<br/><br/>Finance Ministry said, the effect of demonetization is also clearly visible in the growth in Direct Tax Collections. Advance Tax collections of Personal Income Tax has also showed a growth of more than 41 per cent over the last financial year. <br/><br/>It said, the current figures amply demonstrate the positive results of the government's commitment to fight the menace of black money. <br/><br/>
News On AIR | August 7, 2017 5:55 PM
Substantial increase in number of ITRs filed due to demonetization, Operation Clean Money