Media report of reduction in numbers of e-filed ITR during FY 2018-19 incorrect says Finance Ministry.
e-filing of Income Tax Returns registers an increase of 19%. There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns (ITR) e-filed during Financial Year (F.Y.) 2018-19 as compared to F.Y. 2017-18.
The Finance Ministry has claimed the news as factually untrue, because the figures for F.Y. 2017-18 and F.Y. 2018-19 are not directly comparable. It is stated that during F.Y. 2017-18,out of a total of 6.74 crore ITRs which were e-filed, 5.47 crore ITRs were filed for Assessment Year(A.Y.) 2017-18 (the current year)
It has been stated that in comparison, during F.Y. 2018-19, a total of 6.68 crore ITRs were e-filed which included 6.49 crore ITRs of current A.Y. 2018-19 marking an increase of almost 19%. Substantially larger number of taxpayers filed their ITRs electronically in F.Y.2018-19 as compared to F.Y.2017-18.
During F.Y. 2017-18, apart from the returns for the A.Y. 2017-18, nearly 1.21 crore ITRs were filed for A.Y. 2016-17. Balance number of ITRs filed for A.Y. 2015-16 and prior A.Ys is 0.06 crore. In comparison, during F.Y. 2018-19 only 0.14 crore ITRs for A.Y. 2017-18 were filed.
Apparent decrease in number of ITRs filed during F.Y. 2018-19 pertaining to earlier years was due to an amendment in Section 139(5) of Income-tax Act, 1961 w.e.f. 01.04.2018, which mandated that a revised return could be furnished only upto the end of the relevant Assessment Year.
These figures are also available in the Tab-> ‘Filing growth (A.Y.)’ on the e-filing website.
As a result, only 0.14 crore ITRs pertaining to A.Y. 2017-18 were filed during F.Y. 2018-19 as these were the revised ITRs for the relevant A.Y. which could only be filed due to change in law & no other ITR of any earlier A.Y. could be filed in view of amended provisions of law.
It is also stated that the number of paper ITRs for A.Y. 2017-18 was only 9.2 lakh (1.5% of total ITRs filed) and the number of paper ITRs for A.Y. 2018-19 is 4.8 lakh (0.6% of total ITRs filed).
As per the above details, it is evident that most of the taxpayers have steadily switched to e-filing which is clear from the dwindling numbers of paper returns filed for A.Y. 2018-19 compared to earlier years.
When information contained in loose papers not corroborated with assessee, there is absolutely no room for presumption that it belongs…
When CIT(A) order to remand case to AO was set aside without interfering with direction to delete addition, order of…
Whether a prohibited claim in a contract applies only to the employer and not to the Arbitral Tribunal – Matter…
Where a contractual employee is terminated on the sole ground of ineligibility, the Court is entitled to examine its correctness…
Upon deceased acquiring family, GPF nomination in favour of mother became invalid and in absence of fresh nomination, mother and…
GSTN Advisory on Auto Suspension of GST Registration due to Non-Furnishing of Bank Account Details as per Rule 10A As…