Tax Returns Filings Rise By 33 Pct As Govt Cracks Whip On Non-Filers


BENGALURU: After the government cracked down on the non filers in the last financial year, there has been a significant increase in the statistics of income tax returns. During this year it is expected to rise further.Income Tax

The government of India has taken its steps forward to keep a track on IT returns very strictly. It is keenly willing to propose a drive similar to that of Jan Dhan Yojna to keep an eye on the financial information of every individual.

The main aim of the government behind Jan Dhan Yojna is to encourage people in both rural and urban areas to open their personal bank account. This will ultimately help the government track on financial data.

The finance minister made it mandatory to have PAN number for the transactions exceeding Rs 1 Lakh. The income tax returns filed in the FY14 rose to 4.7 crore, which was 3.52 crore before. This figure has increase for around more than 33 percent as compared to the post FY figures and even it is expected to increase in the current year.

Despite of the increase in the tax filing, the figures reveal that only 4 percent of the population files IT returns. Here lies the fact why the government is keen to propose new drives. It is willing to increase the numbers of tax returns. Hence, it has started mining the financial data of each and every individual so that it will get clear data to track down the defaulters.

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