Sunday, 8 May 2016

Indian Tax Payers ((7 Points Cheat Sheet about Tax Payers)

1- 1.25 crore, approximately 1% of the population paid taxes in 2012-2013
2- About 5,400 individuals paid over Rs. 1 crore as income taxes in the same year
3- Total of 2.87 crore individuals filed income tax returns in 2012-13, but 1.62 crore of them did not pay any tax
4- The average Tax Payable was about Rs 21,000 for a vast majority of nearly 89 per cent taxpayers (over 1.11 crore). The cumulative amount stood at over Rs. 23,000 crore.
5- The three individuals in the top-bracket of Rs. 100-500 crore paid a total tax of Rs. 437 crore -- resulting in an average tax outgo of Rs. 145.80 crore.
6- The data further said that the bulk of individuals who filed returns for the assessment year 2012-13 earned an annual salary between Rs. 5.5 lakh and Rs. 9.5 lakh.
7- This includes Taxes by individuals only and does not include Register Private Limited Company, LLP Incorporation, One Person Company Registration, Partnership Firm Registration, Online Business Registration etc.
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