3 ms·
I don't know if you know what constitutes 'evidence'. Saying you know a few people to whom it happened does not make it evidence of any sort. I also know people
by kranner 8y ago
I don't know if you know what constitutes 'evidence'. Saying you know a few people to whom it happened does not make it evidence of any sort. I also know people who stopped getting construction work, and shopkeepers who had dismal sales for months. Now is what I said backed by evidence?
Bringing people into the tax fold means nothing if most people are added to the bottom tier where they pay nothing or very little tax. The IT department does not have the resources to audit and pursue everyone who filed nominal taxes in the financial year following demonetisation and is now reporting income below the taxable threshold.
And growth in actual direct tax collection this year up to July 31 has been dismal.
https://www.business-standard.com/article/economy-policy/direct-tax-collections-grow-at-6-6-and-corporation-tax-barely-1-118090300007_1.html https://www.business-standard.com/article/economy-policy/dir...
We'll soon see what the extension up to August 31 netted. Unless there is a miraculous jump in collections in August, the entire 'we ended up collecting more income tax because of demonetisation' shtick will have fallen flat.