As many as 20,572 tax returns have been selected for the scrutiny procedure by the department post demonetisation, declared by the government on November 8 last year.
Jayant Sinha and Randeep Surjewala are LIVE on India TV on one year of demonetisation coverage. Watch the debate here.
The e-filing of income tax returns (ITRs) went up by 17 per cent post demonetisation, while the rise in the 'individual filers' category was over 23 per cent.
Describing the move against black money as an ongoing process, Jaitley described the fact that most of the banned currency had returned to the system as a success for demonetisation.
Demonetisation a year ago has helped in flushing out black money, eliminating fake notes and reducing cash in circulation, the finance ministry said on Monday.
With the demonetisation set to complete its one year on November 8, the Opposition has been trying to corner the Narendra Modi government, alleging the failure of the move.
On November 8 last year, the Modi government demonetised Rs 500 and Rs 1,000 notes as part of its drive against black money, counterfeit notes and corruption.
The Income Tax Department has picked 20,572 tax returns for "detailed scrutiny" suspecting discrepancies in incomes before and after demonetisation.
Here is what people feel about the decision and the changes they have seen following the decision.
Here is what people feel about the decision and the changes they have seen following the decision.
Cash deposits worth over Rs 17,000 crore were made and later withdrawn post demonetisation by as many as 35,000 companies, which are now deregistered.
Top News
Latest News
