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Did Modi govt's note ban boost tax base? The answer lies in the details

There has been a bump up in tax filings, but its impact on tax collections isn't straightforward

Ishan Bakshi  |  New Delhi 

If data on cash deposits made between November 9 and December 30, 2016, the demonetisation period, is anything to go by, the exercise may well succeed in boosting the tax base.  A staggering 12.5 per cent of the cash deposited by December 30 – when the deadline for depositing banned notes expired – was by those who had a PAN number but had not filed income tax returns in previous years.  Even if a fraction of these do file their returns for 2016-17, it will boost the number of tax returns filed in the current financial year. This analysis carried out by ...

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First Published: Thu, June 15 2017. 02:17 IST