88 lakh taxpayers didn't file returns in year of noteban, 10-fold jump over previous year -Khushboo Narayan
-The Indian Express
The spike in stop filers, according to officials, could be due to loss of jobs or drop in income due to fall in economic activity following demonetization of Rs 500 and Rs 1,000 notes.
Claiming the success of demonetisation in increasing tax compliance, the government said it added 1.06 crore new taxpayers in the financial year 2016-17, almost 25 per cent more than the previous year.
Records accessed by The Indian Express reveal a massive spike in the number of “stop filers” in the same year, reversing a four-year trend. Stop filers are individuals who filed returns in the earlier years but did not do so in the current year even though they are liable to do so. They do not include taxpayers who have passed away or whose PAN cards have been cancelled or surrendered.
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