Income Tax e-returns for April-October increase 59% to six crore; Returns filed by salaried individuals grow by 45%

By: | Updated: November 10, 2018 9:36 AM

Returns filed by individuals with salary income, which is the largest chunk of e-filers, grew by 45%. Other categories of returns also showed growth of between 50% and 85% during this period.

income tax, income tax returnReturns filed by individuals with salary income, which is the largest chunk of e-filers, grew by 45%.

Income tax (I-T) e-returns filed for the April-October period grew by nearly 59% to 6 crore, the data released by the Income Tax Department showed. In the corresponding period last year, 3.8 crore taxpayers had filed returns.

Returns filed by individuals with salary income, which is the largest chunk of e-filers, grew by 45%. Other categories of returns also showed growth of between 50% and 85% during this period. The last date for filing returns for 2017-18 ended on August 31 for individual filers, but the same was extended to October 31 for taxpayers who are required to get their accounts audited.

Last month, finance minister Arun Jaitley said the number of income tax returns filed this year could reach 7.6 crore, twice the number in FY14. Additionally, every year over 1 crore taxpayers pay taxes without filing returns as their income is deducted at source.

For the current fiscal, the government has estimated direct tax mop-up of Rs 11.5 lakh crore, up 14.4% from FY18 collections. In the April-September period, direct tax collection (net of refunds) has increased by 14% to Rs 4.44 lakh crore. The represent 38.6% of the total Budget estimates.

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