Home Buisness news Income Tax Return Scrutiny Reduced To 0.25% In Assessment Year 2018-19: Finance...

Income Tax Return Scrutiny Reduced To 0.25% In Assessment Year 2018-19: Finance Ministry

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As many as 10.29 lakh ITRs have been filed in Odisha in AY 2018-19, in opposition to 8.31 lakh in AY 2017-18.

Income tax returns (ITR) picked up for scrutiny has diminished to 0.25 per cent of the whole ITRs filed in evaluation yr (AY) 2018-19, from 0.55 per cent in AY 2017-18, the Finance Ministry mentioned.

“I-T department is changing-from just enforcement to facilitating better taxpayer services. In continuation of the same, the number of cases selected for scrutiny has reduced drastically over the years,” the ministry mentioned in a tweet late on Tuesday.

Official knowledge launched confirmed the variety of earnings tax scrutiny instances was 0.71 per cent in AY 2015-16, 0.40 per cent in AY 2016-17, 0.55 per cent in AY 2017-18 and 0.25 per cent in AY 2018-19.

The ministry, nonetheless, didn’t give absolutely the variety of instances picked up for scrutiny throughout these years.

State-wise knowledge additionally confirmed whereas the scrutiny as share of earnings tax returns (ITRs) filed has come down, the variety of returns filed throughout AY 2018-19 has gone up in comparison with AY 2017-18.

Scrutiny instances in Odisha diminished to 0.12 per cent in AY 2018-19, from 0.37 per cent within the yr earlier than. Similarly, for Punjab, it got here down from 0.40 per cent to 0.14 per cent in AY 2018-19.

As many as 10.29 lakh ITRs have been filed in Odisha in AY 2018-19, in opposition to 8.31 lakh in AY 2017-18.

In Punjab, 27.65 lakh ITRs have been filed in AY 2018-19, up from 23.44 lakh filed in 2017-18.

In West Bengal 38.93 lakh ITRs have been filed in AY 2018-19, whereas instances picked up for scrutiny was 0.25 per cent. This compares to 33.64 lakh ITRs filed and 0.59 per cent scrutiny instances in 2017-18.

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