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Income tax base expands by 9.1 mn people after note ban: FM Jaitley

Jaitley said demonetisation had led to an increase in the number of assessees and tax revenues

Indivjal Dhasmana  |  New Delhi 

The government’s move to demonetise Rs 500 and Rs 1,000 notes has helped the authorities bring 9.1 million people under the tax net as money has lost its anonymity, Union Finance Minister Arun Jaitley said on Tuesday. This is roughly one-fourth of 37 million individuals who filed tax returns in 2015-16. Launching a new website on ‘Operation Clean Money’, a programme to bring illegal wealth on the books, Jaitley said demonetisation had given a push towards digitisation and led to an increase in the number of assessees and tax revenues. The November 8 announcement ...


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First Published: Wed, May 17 2017. 09:36 IST