94 percent income tax returns filed online in FY16 | Current Affairs, Current Affairs 2017

94 percent income tax returns filed online in FY16

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incomeThe income tax department issued 2.10 crore refunds to the tune Rs.1,22,425 crore in 2015-16, 94 percent of which were filed online, the government said here.

“In FY 2015-16, 94 percent income tax returns were filed online. 2.1 crore refunds worth Rs.1.22 lakh crore given. Using technology to increase taxpayer friendliness,” Minister of State for Finance Jayant Sinha said in a tweet.

“As many as 4.14 crore returns were processed without any human intervention. More than 2.10 crore refunds amounting to Rs.1,22,425 crore were paid in 2015-16 as compared to Rs.1,12,188 crore in 2014-15,” the finance ministry said in a statement.

E-payment for central excise and service tax refunds are also in place, the statement said.

“Single Window Interface for Facilitating Trade (SWIFT) acts as a single point interface for over 50 offices of six government agencies for clearance of Exim (export-import) goods,” it said.

For indirect tax collections, the GDP ratio for the current fiscal is estimated to touch 5.20 percent as compared to 5.17 percent for 2015-16 and 4.36 percent for 2014-15, it said.

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