{"id":7079,"date":"2018-09-02T08:19:34","date_gmt":"2018-09-02T08:19:34","guid":{"rendered":"https:\/\/sunkrish.com\/?p=7079"},"modified":"2022-06-04T11:34:52","modified_gmt":"2022-06-04T11:34:52","slug":"surge-in-filing-of-income-tax-returns-by-71-upto-31st-august2018","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2018\/09\/02\/surge-in-filing-of-income-tax-returns-by-71-upto-31st-august2018\/","title":{"rendered":"Surge in filing of Income Tax Returns by 71% upto 31st August,2018"},"content":{"rendered":"<figure id=\"attachment_3634\" class=\"thumbnail wp-caption alignleft\" style=\"width: 282px\"><a href=\"https:\/\/sunkrish.com\/index.php\/2016\/05\/18\/income-tax-return-is-not-considered-filed-unless-its-e-verified\/e-verification-itr\/\" rel=\"attachment wp-att-3634\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3634\" src=\"https:\/\/sunkrish.com\/wp-content\/uploads\/2016\/05\/e-Verification-ITR.jpg\" alt=\"\" width=\"282\" height=\"179\" srcset=\"https:\/\/sunkrish.com\/wp-content\/uploads\/2016\/05\/e-Verification-ITR.jpg 282w, https:\/\/sunkrish.com\/wp-content\/uploads\/2016\/05\/e-Verification-ITR-80x50.jpg 80w\" sizes=\"auto, (max-width: 282px) 100vw, 282px\" \/><\/a><figcaption class=\"caption wp-caption-text\"><em>Filing of Income Tax Returns registers an upsurge of 71% up to 31st August,2018<\/em><\/figcaption><\/figure>\n<p>There has been a marked improvement in the number of Income Tax Returns (ITRs) filed during FY 2018 (upto 31\/08\/2018, the extended due date of filing) compared to the corresponding period in the preceding year.<\/p>\n<p>The total number of ITRs e-filed upto 31\/08\/2018 was 5.42 crore as against 3.17 crore upto 31\/08\/2017, marking an increase of 70.86%.<\/p>\n<p>Almost 34.95 lakh returns were uploaded on 31\/08\/2018 itself, being the last date of the extended due date of filing of ITRs.<\/p>\n<p>A remarkable increase is seen in the number of ITRs in 2 categories ie ITRs filed by salaried Individuals (ITR-1&amp; 2) as also those availing the benefit of the Presumptive Taxation Scheme (ITR-4).<\/p>\n<p>The total number of e-returns of salaried Individual taxpayers filed till 31\/08\/2018 increased to 3.37 crore from 2.19 crore returns filed during the corresponding period of 2017, registering an increase of 1.18 crore returns translating into a growth of almost 54%.<\/p>\n<p>A commendable growth has been witnessed in the number of returns e-filed by persons availing the benefit of Presumptive Tax, with 1.17 crore returns having been filed upto 31st August, 2018 compared to 14.93 lakh returns upto 31st August, 2017 registering a massive increase of 681.69%.<\/p>\n<p>The increase in the number of returns reveals a marked improvement in the level of voluntary compliance of taxpayers which can be attributed to several factors, including the impact of demonetisation, enhanced persuasion &amp; education of taxpayers as also the impending provision of late fee which would be effective on late filing of returns.<\/p>\n<p>This is indicative of an India moving steadily towards a more tax compliant society &amp; reflects the impact of continuous leveraging of technology to improve taxpayer service delivery.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been a marked improvement in the number of Income Tax Returns (ITRs) filed during FY 2018 (upto 31\/08\/2018, the extended due date of filing) compared to the corresponding period in the preceding year. The total number of ITRs &hellip; <a href=\"https:\/\/sunkrish.com\/index.php\/2018\/09\/02\/surge-in-filing-of-income-tax-returns-by-71-upto-31st-august2018\/\">Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":3634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,4,493,491],"tags":[450,903,322,305,455,451,295],"class_list":["post-7079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-business-advisory-services","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-demonetisation","tag-e-filing","tag-economy","tag-income-tax","tag-income-tax-return-itr","tag-taxation"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/7079","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=7079"}],"version-history":[{"count":2,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/7079\/revisions"}],"predecessor-version":[{"id":7081,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/7079\/revisions\/7081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/3634"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=7079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=7079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=7079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}