INSUBCONTINENT EXCLUSIVE:
fiscal year till the third week of October, said a senior official on Monday quoting from the latest data
of taxpayers earning over Rs 1 crore rises 60% in 4 years)As per the latest data, the number of taxpayers getting refunds is up by 62 per
cent from 1.22 crore refunds in the corresponding period of the last fiscal year
In terms of the refund amount, there has been a surge of 31.7 per cent from Rs 83,000 crore refunded to taxpayers in the corresponding
period last year.The department, the official said, received 5.8 crore income tax returns (ITRs) till October 21 as compared to 3.6 crore
efforts to widen and deepen the taxpayer base in the country, the CBDT has given a target to the income tax department to add 1.25 crore new
people by end of the current fiscal year, the official said.Last year, 1.06 new income tax assesses were added, he added.The present
taxpayer base in the country is over 6.26 crore.The department sent about 1.85 crore emails and SMSes to assessees and taxpayers during the
last quarter of the last fiscal year 2017-18 (January-March), asking them to file their ITRs and pay taxes based on their tax history or
some new information received by the taxman about their transactions, he said.
