The Income Tax Returns filed this year so far has crossed the five crore mark, a rise of over 60 percent compared with filings a year ago. Officials said, this points to improved compliance which augurs well for government finances.
Today is the last day for filing the Tax Returns by salaried individuals and those with business or professional income without the need for audit. In flood affected Kerala, the Central Board of Direct Taxes has extended the due date till 15th of September.
The final number of tax filers is likely to rise further given the usual last-minute scramble. More than 20 lakh returns were filed yesterday. Finance Minister Arun Jaitley said yesterday that demonetization fulfilled the objective of making India a tax compliant society.