{"id":306611,"date":"2018-12-05T06:14:03","date_gmt":"2018-12-05T06:14:03","guid":{"rendered":"http:\/\/tehelka.com\/?p=306611"},"modified":"2018-12-05T06:14:03","modified_gmt":"2018-12-05T06:14:03","slug":"demonetization-helped-in-increasing-tax-base-says-cbdt-chief","status":"publish","type":"post","link":"https:\/\/tehelka.com\/demonetization-helped-in-increasing-tax-base-says-cbdt-chief\/","title":{"rendered":"Demonetization helped in increasing tax base, says CBDT chief"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\"><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-302072 aligncenter\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2018\/09\/incometax-300x239.jpg\" alt=\"\" width=\"501\" height=\"399\" srcset=\"https:\/\/tehelka.com\/media\/2018\/09\/incometax-300x239.jpg 300w, https:\/\/tehelka.com\/media\/2018\/09\/incometax-527x420.jpg 527w, https:\/\/tehelka.com\/media\/2018\/09\/incometax.jpg 597w\" sizes=\"(max-width: 501px) 100vw, 501px\" \/><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">The number of people filing Income Tax returns has increased 50 percent to 6.08 crore so far in the assessment year 2018-19 compared to the year ago, Sushil Chandra, chairman of the Central Board of Direct Taxes (CBDT) said.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">Chandra added that the growth was attributable to the effect of demonetization.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">He said that the department had sent two crore SMS to people who had not filed returns or those whose income did not match with their filings.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">While speaking on the sidelines of the CII event Chandra said, \u201cDemonetization has been very good for increasing the tax base of the country. This year, we have already got around 6.08 crore income tax returns, which are 50% higher than last year by this particular date.\u201d<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">He also added that the number of corporate taxpayers has gone up to 8 lakh from 7 lakh as compared to last year as a result of demonetization.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">CBDT Chairman Chandra further added that the revenue department will achieve direct tax collection target, which is Rs 11.5 lakh crore, for the current financial year ending March 2019.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: 'times new roman', times, serif; font-size: 14pt;\">\u00a0\u201cOur gross direct tax collection growth rate is 16.5% and net direct tax growth rate is 14.5%, which itself shows that demonetization really helped in widening and deepening of a tax base. As on date, total direct tax mop-up stood at 48% of the budget estimate, Chandra added.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of people filing Income Tax returns has increased 50 percent to 6.08 crore so far in the assessment year 2018-19 compared to the year ago, Sushil Chandra, chairman of the Central Board of Direct Taxes (CBDT) said. Chandra added that the growth was attributable to the effect of demonetization. He said that the [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":302072,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[167],"tags":[3591,4589,10092],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/306611"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=306611"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/306611\/revisions"}],"predecessor-version":[{"id":306612,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/306611\/revisions\/306612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/302072"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=306611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=306611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=306611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}