Income Taxpayer Base Increases To 6.26 Crore In 2016-17: CBDT Chairman

From nearly 4 crore earlier, the income taxpayer base has moved up to 6.26 crore, Central Board of Direct Taxes (CBDT) chairman Sushil Chandra said on Monday.

“As on date, we have got 6.26 crore assessees. It is a myth that we have 3-4 crore... (These) assessees who have filed returns, paid advance tax or tax has been deducted at source. This is a large jump from earlier years,” PTI quoted Chandra as saying during the Income Tax Day celebrations in New Delhi.

Chandra said that CBDT has taken a number of measures to increase tax base post demonetisation. The statement of financial transaction report filed by banks shows widening of taxpayer base, he said.

Speaking on the occasion, he cleared the air on disclosure of bank account details of non-resident Indians and foreigners with investments in private equity in India. He informed that such accounts need to be disclosed only when a refund is due to the assessee.