1. Data Drive: Who pays income tax, and how

Data Drive: Who pays income tax, and how

The Central Board of Direct Taxes has, for the first time, released data on the total number of taxpayers in the country, income disclosed in tax returns filed by various category of taxpayers and PAN card-holders.

By: | Published: April 30, 2016 6:21 AM

The Central Board of Direct Taxes has, for the first time, released data on the total number of taxpayers in the country, income disclosed in tax returns filed by various category of taxpayers and PAN card-holders. The number of assessees has risen to 5.17 crore in assessment year (AY) 2014-15 (FY14) from 4.36 crore in AY2011-12. High income earners, both individual and corporate taxpayers – are contributing the majority of the tax collected.

In AY 2012-13, around 20.24 lakh people reported salary income between Rs 5.5-9.5 lakh and the average income in this segment was Rs 6.94 lakh. Over 1.95 crore salaried class people, out of a total of 3.12 crore, had no taxable income. Also, only six people had income between Rs 50-100 crore and none had salary income above Rs 100 crore. The data show that only two people had income from house property showing income of more than Rs 100 crore and 42 had income from interest in this bracket.

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