Increase in number of Income Tax payers after demonetisation: Ministry of Finance

| Updated: Aug 02, 2017 04:46 IST

New Delhi [India], August 1 (ANI): Minister of State for Finance Santosh Kumar Finance in a written reply to a question in Rajya Sabha today said that the number of income tax payers has increased after demonetization. "During the period of November 9 2016 to March 31 2017, 1.96 crore returns were filed as compared to 1.63 crore returns filed during corresponding period of Financial Year (FY) 2015-16 and 1.23 crore returns filed during corresponding period of FY 2014-15," Kumar said. He further stated that demonetisation seeks to create a new 'normal' where in the Gross Domestic Product would be bigger, cleaner and real. "This exercise is a part of Government's resolve to eliminate corruption, black money, counterfeit currency and terror funding," Kumar said. On November 8 2016, the Indian Government announced demonetisation in the nation, to curb terrorism and increase the growth of economy.(ANI)