Number of Income Tax payers grew by 1 cr after demonetisation: Govt

The number of corporate tax payers increased by 32.5 per cent, Finance Ministry tells Parliament

India added 1 crore personal Income Tax payers in Fiscal Year 2016-17 (FY17)—a period after demonetisation, said a newspaper report citing data tabled in the Lok Sabha on Monday.

On November 8, 2016, Prime Minister Narendra Modi outlawed 86 per cent of the cash in circulation to target undeclared "black money" and fight corruption. The Supreme Court this January upheld the legality of the decision, saying it was taken in consultation with the central bank and followed due process.

The number of corporate tax payers increased by 32.5 per cent in FY17, according to a report published in 'Hindu Business