Rejecting the decline claims, CBDT publicizes rise of 19% in ITRs filed in FY 2018-19

Mumbai, May 7: Justifying over the misconceptions rulled out in open regarding the Income Tax Return filings, the Central Board of Direct Taxes on Monday has cleared that the figures for ITRs e-filed during the financial year 2018-19 as compared to 2017-18, were not factually comparable. “E-filing of Income Tax Returns registers an increase of 19%”, the department confirmed.

 

 

“6.74 crore income tax returns filed in the 2017-18 fiscal include 5.47 crore income tax returns for Assessment Year 2017-18. In comparison, during FY 2018-19, a total of 6.68 crore ITRs were e-filed which included 6.49 crore ITRs of current AY 2018-19, marking an increase of almost 19 per cent," it read aloud.

 

Explaining the factual status, CBDT said, “During FY 2017-18, apart from the returns for the AY 2017-18, nearly 1.21 crore ITRs are filed for AY 2016-17, adding that the balance number of ITRs filed for AY 2015-16 and prior AY was 0.06 crore. In comparison, during FY 2018-19 only 0.14 crore ITRs for AY 2017-18 were filed.

 

From an income tax perspective, FY is the year in which income is earned. AY is the year following the financial year in which the taxpayer has to evaluate the previous year's income and pay taxes on it.

 

"Thus, the apparent decrease in the number of ITRs filed during FY 2018-19 pertaining to earlier years was due to an amendment in the Income-tax Act, 1961 brought in, which mandated that a revised return could be furnished only upto the end of the relevant Assessment Year”, added the statement.

 

“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 AY 2018-19 compared to earlier years”, the CBDT signed off.