{"id":2468,"date":"2016-08-24T06:47:41","date_gmt":"2016-08-24T06:47:41","guid":{"rendered":"https:\/\/sunkrish.com\/?p=2468"},"modified":"2017-06-05T06:36:42","modified_gmt":"2017-06-05T06:36:42","slug":"india-has-7-4-crore-taxpayers-cbdt-chief","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2016\/08\/24\/india-has-7-4-crore-taxpayers-cbdt-chief\/","title":{"rendered":"India has 7.4 crore taxpayers: CBDT chief"},"content":{"rendered":"

<\/a><\/p>\n

India\u2019s income taxpayer base has touched 7.4 crore, CBDT Chairperson Rani Singh Nair said here on Tuesday. This is a significant increase from the 5 crore number bandied about in official circles in the recent past.<\/p>\n

Prime Minister Narendra Modi had in June this year urged the income tax department to aspire for a taxpayer base of 10 crore.<\/p>\n

Nair counted both income-tax return filers and those covered under tax deduction at source (TDS) to put the figure at 7.4 crore.<\/p>\n

Replying to a question at the 13th International Tax Conference organised by industry body Assocham, the CBDT chief said there was a need to both widen and deepen the taxpayer base.<\/p>\n

She noted that at 17 per cent, India\u2019s tax-to-GDP ratio figured much lower than the 23-24 per cent seen in many countries, including among its neighbours.<\/p>\n

Nair, however, parried a question on whether the Centre was contemplating taxing the agricultural rich to bolster its tax revenues. \u201cAs you are aware, agricultural income is a Constitutional issue. It requires a Constitutional amendment,\u201d she said.<\/p>\n

Cash transactions<\/strong><\/p>\n

Nair also said the Centre was considering the Special Investigation Team\u2019s (SIT) recommendation to ban all cash transactions in excess of Rs. 3 lakh.<\/p>\n

\u201cAs far as the Income Tax Department is concerned, we have put a 1 per cent TCS (Tax Collected at Source) on cash transactions; we have made PAN quoting mandatory. All these aspects are also part of the SIT recommendation to stop the use of cash in the economy. The recommendation on Rs. 3 lakh and above is under consideration,\u201d she said.<\/p>\n

Source: http:\/\/www.thehindubusinessline.com\/economy\/macro-economy\/india-has-74-crore-taxpayers-cbdt-chief\/article9022534.ece<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s income taxpayer base has touched 7.4 crore, CBDT Chairperson Rani Singh Nair said here on Tuesday. This is a significant increase from the 5 crore number bandied about in official circles in the recent past. Prime Minister Narendra Modi … Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":3044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,493,491],"tags":[450,305,455,451,462,484,438,295],"class_list":["post-2468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-corporate-services","category-economy-business-updates-corporate-affairs","category-income-tax-e-filing-of-returns-for-individuals-partnerships-companies","tag-central-board-of-direct-taxes-cbdt","tag-economy","tag-income-tax","tag-income-tax-return-itr","tag-narendra-modi","tag-permanent-account-number-pan","tag-tax-deducted-at-source-tds","tag-taxation"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/comments?post=2468"}],"version-history":[{"count":5,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2468\/revisions"}],"predecessor-version":[{"id":3079,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/2468\/revisions\/3079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/3044"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=2468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=2468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=2468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}