Central Board of Direct Taxes (CBDT) has rejected media report which claimed that there had been a spike in the number of income tax stop filers in the year of demonetization. It has termed the report as false and baseless.
In a statement, the CBDT said, it added 1.07 crore, new taxpayers, while the number of dropped filers came down to 25.22 lakh in 2017-18, showing the positive impact of demonetisation.
Around 6.87 crore Income Tax Returns were filed during the financial year 2017-18 as compared to 5.48 crore filed during 2016-17. The CBDT asserted that the note ban had a positive impact on the widening of tax base and direct tax collections.
An English daily had reported that there was an increase in the number of stop filers by almost tenfold in the year government demonetised high-value currency notes.