Changes in Taxpayers, Compliance, Black money, digitalisation & Cashless India after demonetisation. details here

After Demonetisation, there has been a significant spike in the number of Tax Returns filed.

Demonetisation has helped reduce black money, increase tax compliance and formalise and give a boost to transparency.

Demonetisation has formalised the Economy with a dedicated web portal ‘Operation Clean Money’.

Demonetisation has played a major role in unearthing undisclosed income.

Demonetisation has succeeded in reducing incremental growth in currency in circulation, thus pushing India to be a cashless economy.

Demonetisation has supported a cashless economy which has resulted in the exponential rise of digital transactions in the country.

There has been a stupendous surge in the growth rate of direct tax collections!

India noticed a surge in the net direct tax collections with a 63% increase as compared to a 41% increase in the absence of demonetisation in three years.

India’s tax to GDP ratio has drastically improved after #Demonetisation.

From unprecedented push to digital payments to better tax compliance, India is seeing multi-dimensional benefits post Demonetisation.

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