91 lakh persons come under tax net post note ban: Minister

The number of persons under the tax net has increased by 91 lakh as unaccounted cash lost anonymity post note ban, Finance Minister Arun Jaitley said.

Launching a new website on ‘Operation Clean Money’, a programme to bring illegal wealth on books, he said the November 8 decision to demonetise higher denomination currency had provided impetus to the move towards digitisation, raised the number of assessees, increased tax revenue substantially as instilled fear of dealing in cash.

Stating that as many as 91 lakh persons have come under the tax net, Jaitley said he expects further increase in tax returns going ahead.

Post demonetisation, there has been a hike in collection of personal income tax, the finance minister said, adding that the new portal will help honest tax payer.

(Agencies)

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