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Number of direct taxpayers may double to 76 mn in PM Modi's regime: FM

The number of direct taxpayers was 38 million when the Modi-led government took office in May 2014

Press Trust of India  |  New Delhi 

arun jaitley, FM, finance minister, jaitley, CAG's Accountant General Conference , CAG
FM Arun Jaitley addresses 29th CAG's Accountant General Conference

said Thursday the number of is expected to double to 76 million during the five-year term of the present government on account of various initiatives like rationalisation of structure, lowering of rates and measures.

"If we look at the functioning of the department, various factors like strict compliance, rationalisation of structure, lowering the lowest slab, and the result of that has been...we are finding 15-20 per cent gradual increase in the tax collections every year," he said.

He said this while delivering the valedictory address at the 29th Conference of Accountants General here, organised by the (CAG).

The number of was 38 million when the Modi-led government took office in May 2014.

"Four years ago, when we assumed office the total number of people who filed tax returns in India was 38 million. It's already 68.6 million last year, which is the fourth year. At the end of fifth year, I do hope it will be something close to 76 million or 75 million, which means that in five years we would have doubled the number of people filing tax returns in India," he added.

He attributed the increase in number of to initiatives of the government like measures, formalisation of economy, use of technology, ability to detect transactions.

These initiatives have also led to increase in tax collections by 15-20 per cent, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, October 11 2018. 19:15 IST
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