The number of Returns filed as on August 5 stands at 2,82,92,955 as against 2,26,97,843 filed during the corresponding period of F.Y. 2016-2017, registering an increase of 24.7% compared to growth rate of 9.9% in the previous year. The growth in returns filed by Individuals is 25.3% with 2,79,39,083 returns having been received upto 05.08.2017 as against 2,22,92,864 returns in the corresponding period of F.Y. 2016-2017. This clearly shows that substantial number of new tax payers have been brought into the tax net subsequent to demonetization.

The effect of demonetization is also clearly visible in the growth in Direct Tax Collections. Advance Tax collections of Personal Income Tax (i.e. other than Corporate Tax) as on August 5 showed a growth of about 41.79% over the corresponding period in F.Y. 2016-2017. Personal Income Tax under Self Assessment Tax (SAT) grew at 34.25% over the corresponding period in F.Y. 2016-2017.