Monday, July 23, 2018

The CBDT has directed the Income Tax Department to add at least 1.25 crore fresh tax filers from across the country -- the highest to be from Punjab, Haryana, Himachal Pradesh and J&K -- in view of increased economic activities. The directions have been issued also as a part of the government's drive to widen the tax base. The policy-making body of the department said as a result of its past initiatives in this domain, about 1.06 crore new tax filers were added to the income tax net during the 2017-18 financial year. A new income tax filer is defined as a person who is not included in the tax filing base at the beginning of the year, but who files the return during the year. A new I-T filer may not be called a fresh taxpayer added to the net as a person may file their income return but may not pay tax as they can claim legitimate exemptions, a senior official explained. However, once a filer is in the I-T database there is a very bleak chance that such a person's income remains ..

from Economy & Policy https://ift.tt/2O9d6cK

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