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India's Population – 142 Cr
Tax Filers – 7.4 Cr
Tax Payers – 2.2 Cr
Majority Contributors – 45 L Tax payers contribute to 80% of tax collected
1.5% of Indians (22m) pay India’s income tax in entirety - And a fifth of those taxpayers pay four-fifths of income tax
Only 1.5% Indians are taxpayers, vs China ~10% | USA ~43%
What are some innovative ways that you can think of to get more folks into the Tax Filing and Tax paying bracket?
Src – Blume Report