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Only 1 percent of the total Indian populations are paying taxes
Posted on: 02/May/2016 2:24:32 PM
Only 1 percent of the total Indian populations are paying taxes. As per the latest data disclosed by the government for assessment year 2012-13, 2.87 crore individuals filed income tax returns for that year. Out of this 1.62 Crores did not pay any taxes. Only 1.25 Crores paid their taxes. This is only 1 percent of the total Indian population. 89 per cent taxpayers paid less than Rs 1.25 Lakhs. Their average tax payable was just about Rs 21,000, while the collective amount stood at over Rs 23,000 crore.
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