Accordingly CBDT Chairman Sushil Chandra said over six crore income-tax returns have already been filed this year for the assessment year 2018-19 showing an increase of 50%t over the last year. Furthermore attributing this surge in returns to demonetization, he said the Income Tax Department had so far received 6.08 crore income tax returns this year.
Meanwhile he said the corporate tax returns had also seen an increase to 8 lakh from 7 lakh filed last year till this date. The Central Board of Direct Taxes (CBDT) Chairman said on the sidelines of CII's international tax conference here. Chandra also expressed confidence that the government would meet the Rs 11.5 lakh crore direct tax collection target that "This is the demonetization effect... It has led to increase in the tax base of the country”.
Moreover he said "We have already got around 6.08 crore income tax returns this year which is 50% higher than returns filed till this date last year”.
Polypropylene Bags exempted for Plastic Ban in Tamilnadu As per report with just two weeks to go for the plastic ban in Tamilnadu to come into effect, a group of manufacturers have approached the Madras High Court, seeking an exemption for polypropylene bags. Meanwhile a division bench of Justice M M Sundresh and Justice Krishnan Ramasamy sought a reply from the Tamilnadu government on Monday. Reportedly a batch of petitions has been moved by polypropylene bag manufacturers, including the Tirupur based E Bags Export.
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