
Ten-fold jump of stop-filers of Income Tax returns in year of demonetisation
Media-reports about number of stop-filers of Income-Tax returns jumping 10-fold to 88.04 lakhs in the fiscal-year 2016-17 of demonetisation as compared to 8.56 lakhs in the previous year 2015-16 highest in last tow decades is just contrast to success-claim for of demonetisation citing addition of 1.06 crores new tax-payers in the year 2016-17 which was 25-percent higher as compared to the previous year 2015-16. It is also noteworthy that target of direct-tax collection for recently closed fiscal-year 2018-19 could not be collected despite best of last-days efforts of Central Board of Direct Taxes CBDT.
It creates doubts about downfall in trade-activities and fall in number of jobs which is certainly a cause of worry for fiscal-system. Another notable feature is 19.14 percent rise in cu...