Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 GSTR-3B deadline expired: File now to avoid input tax credit loss, GST registration cancellation
 ITR Filing: Income tax department shortens time limit for condonation of delay What it means for taxpayers
 CBDT launches campaign to intimate taxpayers on undeclared foreign assets in ITR
 ITR AY2024-25: CBDT launches campaign for taxpayers to report income from foreign sources
  CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
 CBDT weighs overhaul of designations for income tax officials to secure better clarity
 Direct tax-GDP ratio at millennial high in FY24
 CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
 Tax filing: How to choose the right ITR form
 Income Tax Return: How to maximise your tax refunds while filing ITR?
 Last date for filing income tax return (ITR)

Number of income tax payers in India soar; here’s all you need to know
October, 29th 2016

Thanks to the increased transparency through digitisation and also efforts to get hold of the tax evaders, the number of income taxpayers seems to be finally growing in a significant manner after hovering around 3 crore for quite some time.

Thanks to the increased transparency through digitisation and also efforts to get hold of the tax evaders, the number of income taxpayers seems to be finally growing in a significant manner after hovering around 3 crore for quite some time.

According to the latest income tax data released by the Central Board of Direct Taxes for FY13 (AY14) and FY14 (AY15), the number of income tax returns filed between FY12 and FY14 has increased by about 79 lakh to cross 3.91 crore.

While the number of income tax returns filed by the firms went up from 8.59 lakh to 9.19 lakh, company returns increased from 5.81 lakh to 7.01 lakh—in the case of individuals, it has jumped from 2.89 cr for FY12 to 3.65 cr for FY14.

This may see further improvement when the data for FY15 and FY16 is released. But going ahead, the taxman will have to continue with its expansion of the application of digital tools in its operations for better results. The govt also needs to look at increasing the Rs 10 lakh limit for application of the top tax rate of 30%.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting