Total taxpayers grew at 6.26 crore in FY17 from 4.72 crore in FY13, says FM Arun Jaitley


New Delhi: Finance Minister Arun Jaitley on Saturday conveyed that upto 18th September net collections of this financial year increased15.7% to Rs 3.7 L crore. On Friday Jaitley conveyed to the parliamentary panel that the number of taxpayers in the nation increased by 6.26 crore in 2016-17 from 4.72 crore in 2012-13.

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Some of the parliamentary panel officials recommended that further search will be held against the holders of black money. They also recommended reducing tax rate and alterations to tax slabs. Finance Minister at the second meeting further conveyed that the administration enlarging the tax base by stirring the new taxpayers in the nation.Image result for FM Arun JaitleyThe Income Tax Department taken steps as the present government came to influence, Jaitley stated, institution of the Black Money Act, 2015, Comprehensive Amendments to the Benami Act 1988 and Operation Clean Money, among others.Image result for income tax department

He conveyed that undisclosed salary of Rs 5,400 crore was distinguished and around 400 cases alluded to the Enforcement Directorate and the Central Bureau of Investigation for fitting activity. The effect of demonetization and the activities of the Income Tax Department, the clergyman said that the income accumulations if there should be an occurrence of direct expenses rose to Rs 8.5 lakh crore amid 2016-17 at a development rate of 14.5%.Image result for income tax department

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Jaitley said net accumulations in the current financial till September 18 rose to Rs 3.7 lakh crore, up 15.7% from the earlier year. Jaitley further conveyed that the legislature has taken different activities in the previous two-three years so as to achieve effectiveness; straightforwardness and reasonableness in assess organization.Image result for FM Arun Jaitley