Tax return filing up 50% this year: CBDT Chairman

Over six crore income-tax returns have already been filed this year for the assessment year 2018-19 showing an increase of 50 per cent over the last year, CBDT Chairman Sushil Chandra said on Tuesday.

Attributing this surge in returns to demonetisation, he said the Income Tax Department had so far received 6.08 crore income-tax returns this year.

He said the corporate tax returns had also seen an increase to 8 lakh from 7 lakh filed last year till this date.

"This is the demonetisation effect... It has led to increase in the tax base of the country," the Central Board of Direct Taxes (CBDT) Chairman said on the sidelines of CII's international tax conference here.

Chandra also expressed confidence that the government would meet the Rs 11.5 lakh crore direct tax collection target.

"We have already got around 6.08 crore income tax returns this year which is 50 per cent higher than returns filed till this date last year," he said.

--IANS

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