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1
August 2017
As
many as 33 lakh new taxpayers have been added to the tax net post
demonetisation, parliament was informed on Tuesday. The Total Investment & Insurance Solutions
However
the number of taxpayers added is less than the number of taxpayers added
between the financial years 2014-15 and 2015-16, when 40 lakh extra returns
were filed, the government data showed. The
Total Investment & Insurance Solutions
"The
number of income taxpayers has increased after demonetisation. During the
period of November 9, 2016 to March 31, 2017, 1.96 crore returns were filed as
compared to 1.63 crore returns filed during corresponding period of FY 2015-16
and 1.23 crore returns filed during corresponding period of FY 2014-15,"
Minister of State for Finance Santosh Gangwar told Rajya Sabha in a written
reply. The Total Investment & Insurance
Solutions
As
for the objectives of demonetisation, the Minister said that it "seeks to
create a new 'normal' wherein the GDP would be bigger, cleaner and real".
"This
exercise (demonetisation) is a part of government's resolve to eliminate
corruption, black money, counterfeit currency and terror funding," he
added.
In
a separate reply, the Minister said that there was "no official estimation
of the quantum of black money in India". The Total Investment & Insurance Solutions
"There
was no official estimation of quantum of black money in India. However, post
demonetisation, the Income Tax Department (ITD) conducted searches in 900
groups of persons during November 2016 to March 2017 leading to seizure of Rs
900 crore and admission of undisclosed income of Rs 7,961 crore," he said.
He
added that during the same period, 8239 surveys were conducted leading to
detection of undisclosed income of Rs 6,745 crore. The Total Investment & Insurance Solutions
The
Minister disclosed that during the current Financial Year up to June 30, the
ITD has conducted searches in 102 groups, seizing assets worth Rs 103 crore.
The persons searched have admitted undisclosed income of Rs 2,670 crore.
He
also said that the ITD has also launched 'Operation Clean Money' with the
mission to "create a tax compliant society through a fair, transparent and
non-intrusive tax administration where every Indian takes pride in paying
taxes". The Total Investment & Insurance
Solutions
Gangwar
said under the operation, about 18 lakh persons whose cash transactions did not
appear in line with their tax profile were identified and approached through
email/sms.
"More
than 9.27 lakh responses were received giving information on 13.33 lakh
accounts involving cash deposits of around Rs 2.89 lakh crore. Out of this, a
record number of 5.27 lakh responses were received in the first 12 days of the
operation," he said.
"Advance
data analytics tools were deployed which further identified 5.56 lakh new cases
and about one lakh cases in which either partial or no response was received in
the earlier phase. Besides, about 200 high risk clusters of persons were
identified for appropriate action," he said.The Total Investment & Insurance Solutions
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