sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Direct Tax »
 Net direct tax collection crosses ?10 lakh crore mark
 CBDT Widens Tax Dragnet on Notional Income through Section 56(2), but Loopholes Remain
 No respite from Angel Tax despite DPIIT notification
 Filing income tax returns before March 31 deadline? 5 TIPS to avoid last-minute calculation MISTAKES
 You may not be able to claim Income Tax refund, file ITR! Do this in the next 14 daysa
 How and when TDS deductions can be avoided
 Income Tax Department unearths huge violations in TDS deduction
 Received scrutiny notice from income-tax department? here's what you should do
 Exhausted Section 80C Income Tax saving options? No problem! Try these new ways if you are filing ITR this year
 CBDT to clarify on angel tax in a weeka
 CBDT allows offshore fund managers to operate from India

Number of income tax payers in India soar; heres 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 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions