Prime minister Narendra Modi’s demonetization move pays off as income tax net widens.


The number of income tax returns filed for 2016-17 jumped by 25 per cent to 2.83 crore, as more individuals have come into the tax net after the shock demonetization and “operation clean money” launched in its wake, official figures released on Monday show.  The total number of returns filed as on August 5 stands at around 2.83 crore up from 2.27 crore filed during the corresponding period of 2016-17. This was an increase of 24.7 per cent compared to growth rate of 9.9 per cent in the previous year.  “As a result of demonetization and Operation Clean Money, there is a substantial increase…

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