Significant increase in e filers of Income tax returns

Significant increase in e filers has been noticed during the year 2013-14, it may be due to compulsory e-filing of returns for income of more than Rs. 5 lacs. But we have to give weight age to increasing trend in e filing also due to faster and improved processing of returns resulting faster issuance of refunds. As per the information made available by the  income Tax Department  during the current financial year 2013-14, 29681794 returns were e filed as compared to 21486807 in  2012-13, registering almost 38.14%  growth. 758105 Returns declaring Income more than  Rs. 20 were filed as  compared to 631381 in the corresponding previous year. We can say more and more Indians are practically getting richer if the trend of Income tax filing is to be considered as the criteria of Judging richness of Indians. Almost 20%  growth in the filers has been noticed in the higher income group. The number in higher income group though is nominal, keeping in view the rich heritage of the country, but still it is improving and further scope of improvement is there. Comparison between FY 2012-13 and FY 2013-14  e-filing of returns can be viewed as under which clearly reflects the shift of lower income to  higher income group:

FINANCIAL YEAR (FY)	NO. OF FILERS OF INCOME BETWEEN 20 LAKHS TO 50 LAKHS	NO.OF FILERS OF INCOME BETWEEN 50 LAKHS TO 1 CRORE	NO. OF FILERS OF INCOME ABOVE 1 CRORE	TOTAL
FY 2012-13	446046	100846	84489	631381
FY 2013-14	543593	118722	95790	758105
INCOME WISE % INCREASE	21.87%	17.72%	13.76%	20%