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FM says more than 8.2 million taxpayers in 2019-20


New Delhi:

India had 8.22 million taxpayers in 2019-20, including individuals and corporations, Finance Minister Nirmala Sitharaman told Rajya Sabha on Tuesday.

“The total number of Taxpayers Accounting for 2020-21 is 8,228,840,407. The total population of the country as of March 1, 2021 … was 136.30 million,” Ms. Sitharaman said.

The number of taxpayers includes people who pay income tax and corporation tax and who have filed an Income Tax Return or, in this case, people whose income tax has been deducted.

Sitharaman also said that the government has set up a non-filers monitoring system (NMS), which includes internal information and assimilates and analyzes transaction data received from third parties to identify those individuals / entities who have carried out valuable financial transactions with potential tax. liabilities, but have not filed a return.

“The (Tax) Department seeks to include more people who are not in the tax network by formulating region-specific strategies to identify potential non-submitted strategies, organizing outreach programs to promote voluntary compliance, and creating widespread media use. simplification of declarations and the submission process to encourage voluntary submission, ”he added.

In addition, emails and SMS alerts are sent to taxpayers to file ITRs and pay the corresponding taxes.



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