Prime Minister Narendra Modi on Sunday asserted that his government has changed the perception that the tax paid by citizens is squandered in corruption and said the 16 per cent increase in the number of people filing income tax returns this year shows the growth of trust in the dispensation.
Addressing an event at which he laid the foundation stone for the redevelopment of 508 railway stations across the country via video conferencing, Modi said that people used to think for a long time that the taxes that they pay amount to nothing and their hard-earned money is squandered in corruption.
"But our government has changed that thinking, people today feel that their money is being used for nation-building," Modi said. He said facilities are increasing and so is the Ease of Living. "Day and night work is going on to ensure that the problems you faced are not faced by your children," the prime minister stressed. The trust in developmental works among tax paying people has increased and because of that the number of taxpayers is also going up, Modi said.
"There was a time when income of Rs 2 lakh was taxed in the country, look at Modi's guarantee that even an income up to Rs 7 lakh is not taxed today," he said. Despite this, the Prime Minister said, the amount of income tax collected in the country is increasing. He said the number of people filing income tax returns has increased by 16 per cent this year which shows the growth of trust in the government and development taking place in the country.
"Today people are seeing how railways are being rejuvenated in the country, metro is expanding, there is development of new expressways and airports and hospitals," he said. Such changes embolden the feeling of a new India being developed with the taxpayers' money, Modi said.
The income tax department had on Tuesday said a record 6.77 crore income tax returns for the assessment year 2023-24 were filed till July 31, including 53.67 lakh first-time filers. "The total number of ITRs for AY 2023-24 filed till 31st July 2023 are more than 6.77 crore, which is 16.1 per cent more than the total ITRs for AY 2022-23 (5.83 crore) filed till 31st July 2022," the income tax department had said in a statement.
July 31 was the last date for filing income tax returns by salaried taxpayers and those who do not need to get their accounts audited for income earned in the 2022-23 fiscal.
