Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: 5.0
Article rating: 5.0
Article rating: 5.0
Article rating: 5.0
Article rating: 5.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.0
Article rating: 5.0
Article rating: 3.3
Article rating: 5.0
RSS

News

Number of direct taxpayers may double to 7.6 cr during 5 yrs of present govt: Jaitley

Author: PTI/Friday, October 12, 2018/Categories: Tax

Number of direct taxpayers may double to 7.6 cr during 5 yrs of present govt: Jaitley

New Delhi - Finance Minister Arun Jaitley said on October 11 the number of direct taxpayers is expected to double to 7.6 crore during the five-year term of the present government on account of various initiatives like rationalisation of tax structure, lowering of rates and anti-black money measures.

"If we look at the functioning of the direct tax department, various factors like strict compliance, rationalisation of tax structure, lowering the lowest slab, and the result of that has been...we are finding 15-20% gradual increase in the tax collections every year," he said.

He said this while delivering the valedictory address at the 29th Conference of Accountants General here, organised by the Comptroller and Auditor General (CAG).

The number of direct taxpayers was 3.8 crore when the Modi-led government took office in May 2014.

"Four years ago, when we assumed office the total number of people who filed tax returns in India was 3.80 crore. It's already 6.86 crore last year, which is the fourth year. At the end of fifth year, I do hope it will be something close to 7.6 crore or 7.5 crore, which means that in five years we would have doubled the number of people filing tax returns in India," he added.

He attributed the increase in number of direct taxpayers to initiatives of the government like anti-black money measures, formalisation of economy, use of technology, ability to detect transactions.

These initiatives have also led to increase in tax collections by 15-20%, he added.

Print Rate this article:
No rating

Number of views (219)/Comments (0)

rajyashree guha

PTI

Other posts by PTI
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free