1. Number of income tax payers in India soar; here’s all you need to know

Number of income tax payers in India soar; here’s all you need to know

Thanks to the increased transparency through digitisation and also efforts to get hold of the tax evaders, the number of income taxpayers seems to be finally growing in a significant manner after hovering around 3 crore for quite some time.

By: | Updated: October 29, 2016 7:56 AM
The govt also needs to look at increasing the Rs 10 lakh limit for application of the top tax rate of 30%. (Express Photo) The govt also needs to look at increasing the Rs 10 lakh limit for application of the top tax rate of 30%. (Express Photo)

Thanks to the increased transparency through digitisation and also efforts to get hold of the tax evaders, the number of income taxpayers seems to be finally growing in a significant manner after hovering around 3 crore for quite some time.

According to the latest income tax data released by the Central Board of Direct Taxes for FY13 (AY14) and FY14 (AY15), the number of income tax returns filed between FY12 and FY14 has increased by about 79 lakh to cross 3.91 crore.

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While the number of income tax returns filed by the firms went up from 8.59 lakh to 9.19 lakh, company returns increased from 5.81 lakh to 7.01 lakh—in the case of individuals, it has jumped from 2.89 cr for FY12 to 3.65 cr for FY14.

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This may see further improvement when the data for FY15 and FY16 is released. But going ahead, the taxman will have to continue with its expansion of the application of digital tools in its operations for better results. The govt also needs to look at increasing the Rs 10 lakh limit for application of the top tax rate of 30%.

All taxpayers – gross total income (AY 2013-14)

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  1. P
    Prof Ponguru CS Reddy
    Aug 9, 2017 at 9:15 pm
    Dear Editor The growth rate in income tax is only a short period illusion. Why not the analysis made that the increase in income tax is from which class of people in the country. Is it from the super rich class, from the rich class? Is it from the upper middle class? Is it from the middle class? Why always media appreciate PM-Modiji movement in demonetisation, why not media gives constructive suggestions to PM-Modiji. Is media interacting and studying the common man experiences that are presently in scenario? As a senior economist, I believe that the economic and financial reforms which are being implemented my PM-Modiji is similar to an enthusiastic doctor who wants to cure the chronic patient totally sick, got addicted to alcohol and laying on the bed at hospital. On the Financial and economic reforms of PM Modiji, there is no fear in the super rich class and rich class, but only there is fere among the middle class and below middle class, from where the major productivity of nation
    Reply
    1. S
      sonia
      Nov 1, 2016 at 3:19 am
      The data and graphs do not support the headline...it shows a steady increase in taxpayers since 2012 and no sudden jump as claimed.
      Reply
      1. C
        CA P JITENDRA KUMAR
        Oct 29, 2016 at 11:53 am
        BBDT should disclose performance parameters with which quanative data without qualitative content is not an useful information. It is called "data". Can we as not tax payers are made to know transparently how is our contribution towards nation building growing . For example , costs go up , the incremental collection will not do good for nation building
        Reply

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