New Delhi: Announcement of unclaimed income of Rs. 15,496 crores by note ban: CBDT. Central Board of Direct Taxes (CBTT) today said that the main purpose of the banquoement was to increase the base by making the black money out and making the informal economy formal, and it has been successful in its objective. Cbtt In a statement issued here said that the ban against black money was initiated with the ban on filing of banknotes and not only ban black money but also increased tax base and direct tax collection.
Announcement of unclaimed income of Rs. 15,496 crores by note ban: CBDT – India Virals | www.indiavirals.com
It has been stated in the statement that there has been a multiplication of vigilance action on the basis of the ban on record. Before the ban on screening, 447 places were searched and after that number increased by 158 percent to 1152. In the same way seizure was also done and the first Rs 712 crore was seized, which increased to Rs 1,469 crore. In addition, the disclosure of the undisclosed income revealed an increase of 38 percent and the unaudited income of Rs 11,226 crore was disclosed which increased to Rs 15,496 crore.
The survey has also recorded an increase of 183 percent over black money. Cbtt According to the ban on bondage has helped increase the tax base. By August 5, 2017, 2.79 crore people paid income tax while the figure was 2.22 crore in the same period last year. In this way, it has increased by 57 lakh ie 25.3 percent. 1.26 crore new taxpayers have been linked to the year 2016-17 till 30 June 2017. At the same time, the direct tax collection is showing a clear effect of note-off. Direct collection of deposits till August 5 increased by 41.79 percent compared to the same period last fiscal.