Why more tax returns filed now all of a sudden? #BusinessTitBits

#BusinessTitBits: The Finance Minister Shri #ArunJaitley calls India a low compliance nation, to mean that we evade tax laws and do not pay taxes and file our tax returns. And for that he points to the small number of tax returns that are filed in India, as compared to its huge population. While his comment ignores the fact that millions of Indians still live below the poverty line, with no income as such and that the agriculture sector in which a large part of our population is engaged in, is tax exempt, yet in order to ferret out tax evaders and shore up the government’s tax collections, Operation Clean Money was launched by the NDA government, in the early part of its tenure. The question is why more tax returns are being filed now all of a sudden? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.