06-08-2023 : Prime Minister Narendra Modi affirmed that his government has successfully transformed the perception that citizens’ hard-earned taxes are squandered in corruption. Speaking at an event where he laid the foundation stone for the redevelopment of 508 railway stations across the country through video conferencing, Modi highlighted the remarkable 16% increase in the number of people filing income tax returns this year, which serves as a testament to the growing trust in the government’s administration.
Long gone are the days when people felt disheartened, believing that their taxes were futile and their money lost to corrupt practices. The Prime Minister emphasized that his government has ushered in a paradigm shift, instilling the conviction that citizens’ contributions are being utilized for the betterment of the nation.
Modi reassured the public that efforts are incessantly underway to enhance living standards and eradicate the challenges faced by the present generation, ensuring a brighter future for the coming generations. The surge in trust among taxpayers has led to an increased number of individuals willingly contributing to the nation’s progress through tax filings.
Reflecting on the transformation, Modi pointed out that in the past, income exceeding Rs 2 lakh was taxed, whereas now, even incomes up to Rs 7 lakh remain untaxed—a guarantee from his leadership. Despite this, the amount of income tax collected has shown significant growth, underscoring the government’s effective management of finances.
With a sense of pride and accomplishment, the Prime Minister celebrated the rejuvenation of railways, the expansion of metro networks, the development of new expressways and airports, and the establishment of advanced healthcare facilities across the country. These remarkable changes bolster the belief in the emergence of a new India, developing steadily with the taxpayers’ contributions.
The record-breaking filing of 6.77 crore income tax returns for the assessment year 2023-24, including 53.67 lakh first-time filers, exemplifies the citizens’ growing faith in the government’s commitment to fostering development and prosperity. The income tax department’s statement revealing the 16.1% increase in tax filings this year compared to the previous year further validates the transformation of public perception.
July 31 marked the deadline for filing income tax returns by salaried taxpayers and those who did not require their accounts to be audited for the income earned in the fiscal year 2022-23. The substantial number of returns filed underscores the enduring trust in the government’s ability to utilize tax revenues for the greater good of the nation. As the journey towards progress continues, the Prime Minister’s vision for a prosperous India driven by taxpayers’ support remains steadfast and unwavering.