New Delhi: According to the fresh data disclosed by the government, only 1 percent of the Indian population account as tax payers in the country. Though, for as many as 5430 persons, the tax expenditure was more than Rs. 1 crore, said the latest statistics for the 2012-13 assessment.
The overall number of individuals who paid tax for that year was about 2.87 crore, but the reports showed 1.62 crore of persons did not pay the same. Therefore, the number accounted for 1.25 crore who paid tax maintaining the record for around one of country’s whole citizens.
The average estimate counted for the tax was about Rs. 21000, while the collective figure went for Rs. 23000 crore. The highest paying three individuals made a total of Rs. 437 crore by paying tax between 100-500 crore, giving an average of Rs, 145.80 crore.
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As aforementioned, the number of persons who paid tax over Rs. 1 crore was as many as 5430. From them, more than 5000 lied in the range of Rs. 1.5 crore, which resulted in a total outlay of Rs. 8907 crore.
Comparing the overall data, total income tax earnings enhanced up to Rs. 2.86 lakh crore in the FY 2015-16, from Rs. 31,764 in the year 2000-01. Moreover, the annual salary of individual masses who filed tax returns for the assessment year 2012-13 was between Rs. 5.5 lakh and Rs. 9.5 lakh.
Scrutinizing the overall salary scenario, it has been examined that more than 20.23 lakh payers earned Rs. 5.5-9.5 lakh salary in which their accumulative income was about Rs. 1.40 lakh for the 2011-12 financial year. Besides this, the graph of persons who earned an income of Rs. 2.5-3.5 lakh that year were about 19.18 lakh persons. Six individuals were placed in the high-end earning clause of Rs. 50-100 crore. Talking about the total IT returns filed for the year 2012-13, the figure was nearly 2.87 crore.
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