Note ban, black money crackdown pushed PAN registrations, ITR filings

The tax department aims to bring large tax evaders to account and gently persuade those making minor violations to comply with the rules

Increased surveillance and a crackdown on black money led to a three-fold rise in PAN (permanent account number) registrations and an 18% rise in income tax returns, according to Livemint reports. This also led to a significant increase in the number of properties seized by the tax department to 475. 

“This is the effect of demonetisation and operation clean money launched in January. Data analysis of information collected during the months after demonetisation has led to higher surveillance and a more effective crackdown on black money,” a top official in the tax department told Livemint. 

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