Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
2-min read

'75 Lakh New Tax Filers Added to IT Net This Fiscal'

The target for the taxman is to add 1.25 crore fresh tax filers by the end of the 2018-19 financial year that ends in March next year.

PTI

Updated:November 4, 2018, 2:38 PM IST
facebookTwitterskypewhatsapp
'75 Lakh New Tax Filers Added to IT Net This Fiscal'
Image for representation.
Loading...

New Delhi: About 75 lakh new tax filers have been added to the income tax payers list in the country this fiscal till now, a senior official said.

The target for the taxman is to add 1.25 crore fresh tax filers by the end of the 2018-19 financial year that ends in March next year, as per a directive of the Central Board of Direct Taxes (CBDT).

The CBDT frames policy for the Income Tax Department (ITD).

"About 75 lakh fresh tax fliers have been added to the income tax list till now in this fiscal. A number of policy and enforcement measures undertaken to check tax evasion are the reasons that can be attributed for achieving these numbers.

"The department is hopeful that it will achieve the target of adding 1.25 crore tax filers as there are still few months left for the 2018-19 financial year to close," the official said.

The department, last fiscal, had added 1.06 crorenew tax filersto theincome tax net during the 2017-18 financial year.

A new income tax filer is defined as a person who is not included in the tax filing base at the beginning of the year, but who files the return during the year.

A new I-T filer may not be called a fresh taxpayer added to the net as a person may file their income return but may not pay tax as they can claim legitimate exemptions, the official had told earlier.

However, once a filer is in the I-T database, there is a little chance that such a person's income remains anonymous, he had said.

The CBDT had set the adding of 1.25 new tax filers target for the taxman this fiscal when it issued its Central Action Plan (CAP) for the IT Department early this year.

"The Indian economy is growing at a rapid pace. Considering the increased economic activities both in organised as well as unorganised sectors, there is a scope for further widening of the direct tax base of the country.

"... The Board (CBDT) has fixed an overall target of adding 1.25 crore new return filers during the current financial year," the CAP for 2018-19 had said.

The CAP acts as the vision document for the Income Tax (I-T) Department and is published by the CBDT annually.

As per the set target, the northwest region of the Tax Department (that has jurisdiction over Haryana, Punjab, Himachal Pradesh and Jammu and Kashmir) has been asked to add the maximum new filers at 11,48,489, followed by Pune region at 11,33,950 and Tamil Nadu region at 10,36,645.

The Andhra Pradesh and Telangana regions have to get 10,40,218 new filers. Gujarat (9,88,101) and the Karnataka and Goa regions (7,95,626) follow the tally apart from the 12 other I-T regions in the country.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Bank 2,263.50 -1.47
Yes Bank 90.65 -0.55
Reliance 1,273.55 -0.54
Kotak Mahindra 1,494.00 2.73
HDFC 2,138.50 -2.21
Company Price Change %Gain
Yes Bank 90.70 -0.49
Reliance 1,272.85 -0.60
Bajaj Finance 3,275.45 0.83
Maruti Suzuki 5,875.35 -0.62
HDFC Bank 2,263.95 -1.44
Top Gainers
Company Price Change %Gain
Power Grid Corp 210.45 3.11
Kotak Mahindra 1,494.00 2.73
Hero Motocorp 2,469.30 2.73
ITC 270.65 2.36
Asian Paints 1,429.35 1.79
Company Price Change %Gain
Power Grid Corp 210.40 3.14
Kotak Mahindra 1,493.70 2.76
Hero Motocorp 2,469.30 2.68
ITC 270.70 2.38
Asian Paints 1,428.35 1.78
Top Losers
Company Price Change %Gain
SBI 342.20 -2.47
Indiabulls Hsg 640.55 -2.34
HDFC 2,138.50 -2.21
Adani Ports 399.75 -1.83
Bajaj Auto 2,523.85 -1.52
Company Price Change %Gain
SBI 342.05 -2.49
HDFC 2,137.65 -2.24
Coal India 218.00 -1.45
HDFC Bank 2,263.95 -1.44
Bajaj Auto 2,524.95 -1.43

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results