'No discrepancy in data on returns filed'

19 Août, 2017, 13:27 | Author: Cyril Hebras
  • 91 Lakhs? 56 Lakhs? 5.4 Lakhs? Fact Checking Centre's'Tax Surge Claims

The Ministry of Finance on 18 August released a clarification regarding the number of taxpayers that have been added after demonetization.

Modi, in his address to the nation from the ramparts of Red Fort, had claimed that during 1 April to 5 August, the number of additional personal income tax return filers has more than doubled to 5.6 million from 2.2 million in the previous year.

For full report, log on to www.timesofindia.com The department said the finance minister's statement regarding addition of 91 lakh taxpayers to the tax base referred to the total number of new returns filed during the entire 2016-17 financial year and "therefore, it is neither comparable to the data in PM's speech nor with the data in the Economic Survey (different period and different type of taxpayers)".

Finance Minister Arun Jaitley had on May 17 said that 91 lakh taxpayers had been added to the tax net as a result of actions taken by the Income Tax Department, while the Ministry of Finance informed Parliament 33 lakh new taxpayers had been added to the tax net as of August 1.

Questions were raised about the veracity of the figure, as on 11 August, Economic Survey anchored by chief economic adviser in the finance ministry Arvind Subramanian had claimed that only 5.4 lakh new taxpayers were added post-demonetisation.

Protecting your pets during the solar eclipse
A lot of eclipse events across the CSRA, including the one at Daniel Field, are asking that you don't bring your pets. We are less than three days away from the first total solar eclipse to pass through the United States in 38 years.


WTI falls back as DoE reveals rise in weekly USA oil output
API's report lent some support to global prices on Tuesday amid a stronger US dollar and concern about flagging demand in China. Traders may already be looking further ahead, however, as the late September end to the official USA summer travel season ends.


Des Marocains parmi les victimes de l'attentat — Barcelone
Parmi ces trois Marocains, un père de famille vivant à Montpellier qui était en vacances à Barcelone avec son fils de six ans. En quelques heures, l'Espagne a été frappée par deux attaques: la première à Barcelone, la seconde à Cambrils.


So, while prime minister Modi was talking about the difference in additional e-returns filed between 1 April to 5 August period of 2017 and 2016, Economic Survey was looking at new taxpayers that can be attributed to demonetisation during the period of 9 November 2016 and 31 March 2017.

"There is no inconsistency in the data provided by the government in the statements as these are in different contexts and for different time periods", stressed the CBDT. During the same period of 2015, 2.00 crore e-returns were received, meaning thereby, that in 2016, only 22 lakh (rounded off) additional e-returns were received by the due date of filing, it added.

Regarding the data published in the second part of the Economic Survey, the department said it was based on data for the period between November 9 and March 31, 2016-17, and corresponding periods of the last two financial years. "Moreover, the growth in the number of taxpayers discussed in the Economic Survey is based on the number of new taxpayers assuming the previous year's growth rate as the reference growth rate", the statement from the tax department said.

"The growth of individual return-filers referred to in the Prime Minister's speech is with respect to new and old taxpayers", said the CBDT. Thus, the data used in Economic Survey is different from data referred to in PM's speech in respect of the period of filing as well as the type of taxpayers and the two are not comparable. However, this data can not be compared with the other data mentioned.

"From the 1st of April to 5th August, 2017, 2.79 crore returns have been filed by Individual taxpayers as against 2.23 crore returns filed during corresponding period of past year", the statement said, adding that the number is expected to rise significantly as many more taxpayers are still to file their returns.

Conseillé:

  • Four 'hacked to death' in coastal Kenya

    Four 'hacked to death' in coastal Kenya

    He ordered all herders to remove their animals from inside the Boni Forest and all the mentioned areas in the next 48 hours. The militants also torched several houses before disappearing into the bushes.
    South Korean President Moon Jae-in rules out war with North Korea

    South Korean President Moon Jae-in rules out war with North Korea

    However, Moon said the agreement can not infringe on the individual rights of former requisitioned workers. North Korean officials then threatened to launch four missiles into the sea off the coast of Guam.
    Additional charges in fatal rally crash

    Additional charges in fatal rally crash

    A white supremacist rally in Charlottesville turned deadly when Fields rammed his vehicle into counter protesters. These charges include two counts of malicious wounding and three counts of aggravated malicious wounding.
  • Cambrils Attack Witness Describes How 'Smiling' Terror Suspect Taunted Police

    Cambrils Attack Witness Describes How 'Smiling' Terror Suspect Taunted Police

    The fifth attacker managed to flee while and injuring a woman who later died in hospital. So-called Islamic State have taken responsibility for the attack.

    Worth Watching Stock Precision Drilling Corporation (PDS)

    The difference between the expected and actual EPS was $0.07/share, which represents an Earnings surprise of 43.8%. The firm had revenue of $275.52 million for the quarter, compared to analysts' expectations of $271.33 million.
    A peine rentré au bercail, Louis Picamoles promu capitaine du MHR — Montpellier

    A peine rentré au bercail, Louis Picamoles promu capitaine du MHR — Montpellier

    Le troisième ligne centre Louis Picamoles lors France - Galles à Saint-Denis, le 18 mars 2017. Il était donc primordial d'en parler avec lui avant de prendre ma décision.
  • Church calendar for Saturday, Aug. 19

    Church calendar for Saturday, Aug. 19

    First Lady Judy Hairston of Union Street Missionary Baptist Churchwill be honored during the morning worship service on Sunday. Vespers in the Valley: affiliated with Ridge Presbyterian Church (Paradise), meets at New Hope Fellowship Church, 418 W.
    LCD Soundsystem are going back to the 1980's with new song 'Tonite'

    LCD Soundsystem are going back to the 1980's with new song 'Tonite'

    In 2016 the band canceled their touring schedule in Asia and Australia so that they could focus on completing American Dream . "I think it is, for sure, the happiest I've ever been making a record".
    Divion: Un soudanais meurt dans une altercation

    Divion: Un soudanais meurt dans une altercation

    Comme le rapporte un porte-parole de la préfecture à l'AFP, la bagarre a eu lieu "vers 21h30". La rixe mortelle s'est produite à Divion, une localité proche de l'A26 qui dessert Calais.
  • Imax Corporation (IMAX) Reached a 52-Week High

    The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.17. This repurchase authorization permits the company to purchase up to 12.5% of its shares through open market purchases.
    Police Arrest Four for Game Of Thrones Leak

    Police Arrest Four for Game Of Thrones Leak

    The case was filed by a Mumbai-based company responsible for storing and processing the TV episodes for an app, local media said . The four have been charged with criminal breach of trust and computer-related offences.
    Shep Smith reveals no GOPer would defend Trump's presser

    Shep Smith reveals no GOPer would defend Trump's presser

    We need your help to create a database of such incidents across the country, so we all know what's going on. Unfortunately, he was on CNN, and host Kate Bolduan was having none of it.


Populaire

L'opposition saisit la Cour suprême — Kenya/présidentielle
Candidat aux trois derniers scrutins, Raila Odinga, 72 ans, avait déjà saisi la Cour suprême en 2013 sans succès. Le président sortant Uhuru Kenyatta a été déclaré vainqueur de l'élection avec 54% des voix face à M.

In call with Trump, China's Xi urges restraint over North Korea
Trump says he has yet to speak with the governor of the territory, but says, "I feel that they will be very safe, believe me". The tough talk capped a week in which long-standing tensions between the countries risked abruptly boiling over.

Massive Manhunt Underway After Barcelona Attacks Kill 13
Afterwards, the crowd on Barcelona's central Plaza Catalunya broke into a long round of applause and shouts of "I'm not afraid". The Islamic State group claimed credit for the attacks. "There were bodies on the ground, with people crowding round them".

Asian Carp Caught This Summer Evaded Electronic Barrier System
Army Corps of Engineers recently released a list of options for strengthening defenses at the Brandon Road Lock and Dam in IL . But officials say they're not sure how it happened.

Odisha OJEE MBBS Counseling 2017 Second Round Results Available @ ojee
The aspirants of Odisha who has done with the examination under NEET 2017 are able to check the Merit List for the same now. Just follow the below simple steps for to check the Gujarat MBBS Counselling 2017 Second Allotment Results.

Warner Bros Touts $1B 'Conjuring' Universe With 'Annabelle: Creation' Success
Serving as executive producers on " Annabelle: Creation " were Richard Brener, Walter Hamada, Dave Neustadter and Hans Ritter. Given that Annabelle: Creation is only in its second weekend at the box office, that figure is expected to rise even more.

United States High Temperature Capacitors Market (2017-2022)
This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins. The Global Water Quality Monitoring Equipment market consists of different worldwide , regional, and local vendors.

CBO: 20% premium rise without Obamacare insurance subsidies
The CBO's report estimated 1 million more Americans would be without health insurance next year if Trump ends the payments. CSR payments help to offset the cost to insurers that offer plans with low out-of-pocket costs to poorer Americans.

Outlook Speakout Awards: Naveen topmost administrator in country
Accepting the award Patnaik said, "It is a proud moment of all of us; I dedicate this award to the four crore people of Odisha". Union Finance Minister Arun Jaitley was also given the Outlook magazine's Best Parliamentarian Award on the occasion.

Luise Ortega, l'ex-procureure générale du Venezuela s'est réfugiée en Colombie
Luisa Ortega avait été démise de ses fonctions le 5 août par la nouvelle Assemblée constituante, acquise au président Maduro. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon.