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Income Tax Filers Drop by 660k in FY19
May 07, 2019
In what’s likely to be a first in the history of income tax filings, the filings in FY19 were less by 660,000 against the previous financial year. This has surprised analysts as they expected the tax base to grow after demonization.
A recent report by Kotak Economic Research said if the filings are really diminishing, then it can be a reason to worry in this financial year which has shifted its focus to compensatory expenditure.
In March 2013, the number of filers was 2.7 crores. They doubled to 5.2 crores in March 2016 and further increased to 6.2 crores in March 2017.
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