In a country of more than 135 crore people, last year,till July 31, 2022, only a little over 5.8 crore income tax returns (ITRs) were filed for 2022-23, which is just above 4% of India's population.
Further, the number of people who declare their annual income as being above `1 crore is just 131,390.
This year in 2024 till the 25th of July, while filing Income Tax returns for the year 2023-24, a whopping 70% of the registered Income Tax payers, i.e. 70% of 5.8 Crore people who had paid Income tax last year, have filed ZERO INCOME tax liability for this year.
That is 4.06 Crore people who had paid Income Tax last year have fallen out of the taxable income bracket-either due to loss of Business, loss of jobs lor lower income and salaries.
Only 30% of people who had paid taxes last year , that is 1.04 crores people in India,with a population of 135 Crores have Income that qualifies for being in the taxable bracket.
Implications of this are far more serious. It's just a matter of time before personal direct tax collection too comes down.
A direct tax is a tax that a person or organization pays directly to the entity that imposed it. Examples include income tax, real property tax, personal property tax, and taxes on assets, all of which are paid by an individual taxpayer directly to the government.
In a written reply Union Finance Minister #NirmalaSitharaman confirmed this.
Veteran Bihar BJP leader Vinod Sharma quits BJP, says Manipur issue has shamed India and Modi's politics on that is even more shameful.
Good to see some people with conscience still there in BJP.
ANI wont post this, Share it as much as you can
@ANI@BJP4Manipur@NBirenSingh
Sir, Manipur incident is shameful
It’s equally concerning that local Govt has taken so long to condemn the incident and to apprehend the culprits.
@ANI Did Biren Singh not feel "bad" when the Meitei mob perpetrated the horrific crime against Kuki women & killed the men on 4th May?
Or when the FIR was filed on 18th May?
Or when no arrests were made for nearly 3 months?
He feels bad because video leaked?
Caste and Religion are creating many human monsters that they forget humanity.
No one is superior in the eyes of God. When you died we all go back into the earth the Rich and Poor.
Shame on our country men and women who support such behaviour.
Congratulations to the Indian Football Team for making the country proud once again at SAFF Championships.
This win give a big boost to India's football culture.
‼️Announcement‼️
The Party hereby announces Shri @aapkaprithvi as the National Joint Secretary.
We wish him all the very best for his new responsibility. 💐
It's clearly a State oriented CRIME with malicious political intention and Delhi govt should file a criminal case to sabotage the life of Delhi people towards an intentional action by Haryana govt.
DELIBERATE VENDETTA AGAINST AAP DELHI GOVT?
Hathnikund's video surfaces where the Water route towards UP is absolutely dry and it appears that all the water was deliberately released towards Delhi ??
Oh thats why There is all the water coming to Delhi but nothing to UP ?
So disgusting & shamefull of BJP & Haryana Gov for Flooding Delhi just for Cheap Politics👎
You asked for one good reason why India India needs @AamAadmiParty , here is one :
Watch with an open mind !
Let me know if you need more reasons ? @SecularHead 🙏