Central Board of Direct Taxes (CBDT) of the Income Tax Department has released new figures related to important income tax and direct taxes for the last four years, on Tuesday. CBDT said that the number of income and direct taxpayers has increased by 80% in the last four years.
CBDT said, “Taxpayers including companies, firms, and Hindu undivided families having an annual income of more than INR 1 crores has increased significantly.”
Rise in Income Tax Returns by 80%
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CBDT said in its report that during the last 4 years, the income tax returns filed has registered an increase of more than 80%. It has increased from INR 3.79 crore in 2013-2014 to 6.84 crore in 2017-18.
Sushil Chandra, Chairman of CBDT, said that this figure is achieved due to the efforts made by the Income Tax Department – the spread of information related to enforcement and compliance.
He also said that during this period, the department has taken several steps to prevent tax evasion. Chandra further added that they are committed to increasing the tax base in the country.
Sushil Chandra has given the credit of the increase in the number of taxpayers to the various efforts of the Income Tax Department.
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