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Number of Taxpayers Can Increase by 200%, Says Arun Jaitley
December 10, 2018
Finance Minister Arun Jaitley said that the number of individuals under the tax net can double to 12 crores if the economy is formalized further. He said that this year, 6.86 crores Income Tax returns were filed and the number is projected to go as high as 7.6 crores before the NDA government completes its term next year. He also said that that the growth rate as of today is 7.5% to 8% and it’s likely to stay at that although there might be some deviation in 1-2 quarters.
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