Government today said there has been a substantial increase in the number of Income Tax Returns (ITRs) filed due to demonetization and Operation Clean Money.
Finance Ministry said in a statement, the number of returns filed has registered an increase of around 25 per cent compared to 10 per cent in the previous year.
It said, as on last Saturday, more than two crore 82 lakh ITRs were filed as against around two crore 27 lakh filed in the last financial year.
The Ministry said, this clearly shows that substantial number of new tax payers have been brought into the tax net following demonetization.
Finance Ministry said, the effect of demonetization is also clearly visible in the growth in Direct Tax Collections. Advance Tax collections of Personal Income Tax has also showed a growth of more than 41 per cent over the last financial year.
It said, the current figures amply demonstrate the positive results of the government’s commitment to fight the menace of black money.