NEW DELHI: The number of income tax return (ITR) filings surged 71 per cent to 5.42 crore till August 31— the last date for submission for financial year 2017-18.
This was led by a massive eight-fold jump in returns filed by entities under the presumptive tax scheme and 54 per cent increase in e-filing by salaried individuals.
“The increase in the number of returns reveals a marked improvement in the level of voluntary compliance of taxpayers which can be attributed to several factors, including the impact of demonetisation, enhanced persuasion and education of taxpayers as also the impending provision of late fee which would be effective on late filing of returns,” the Finance Ministry said in a statement.
The total number of ITRs e-filed up to August, 2018, was 5.42 crore as against 3.17 crore up to August 31, 2017, marking an increase of 70.86 per cent.
Almost 34.95 lakh returns were e-filed on August 31, 2018. (AGENCIES)