ITR E-filing Increases By Over 17% Post Demonetisation

As per the official data, on an individual basis filing of income tax return grew by over 23% while ITR filing through online mode or e-filing registered an increase of 17% post the demonetisation drive of the government that resulted in the scrapping of high value notes of Rs. 500 and Rs. 1000 denominations.

ITR E-filing Increases By Over 17% Post Demonetisation

The filing of ITR online increased from 3,21,61,320 e-returns in the pre-demonetisation phase until October31, 2016 to 3,78,20,889 returns by this October end in the current FY 2017-18. This is a sharp rise of 17.6% in the number of returns filed electronically.

The officer said, "The spike in figures are due to demonetisation. The tax department had asked people to file their returns so that they are clean when it comes to making any transaction in the wake of the note ban."

Individual e-filers also showed a jump of close to 24% who use form ITR1 to reflect their income details. The number of individuals who filed ITR-1 online increased to 2,08,40,303 this year as against 1,69,04,759 filers last year.

Those having income from salary as well as other sources file form ITR-2A, online filing of this form also saw an increase to 28,82,189 returns filed until October this year, a 21.78% rise in comparison to 23,66,687 returns filed in the corresponding period last year.

The income tax department has hinted at crack down on 20,572 tax returns as discrepancies have been known in the pre and post demonetisation income.

With inputs from PTI