Monday, April 15News That Matters

Number of income tax payers in India


Do you know how many people pay Income Tax in India?  How many people in India pay Income Taxes?

Just less than 3% of total population !!!   Unbelievable !!!

 In a population of 1.2 billion, there are just about 35 million taxpayers.

In comparison – There are 138 million taxpayers in the United States. ( out of about 308 million people). So,  Out of the total population, 45% are taxpayers.

Out of these 3.5 Crore people, 89% pay taxes in the tax slab of 0 – 5 Lakh rupees,

Only 1.3% of all tax payers have income about 20 Lakh!

And, of these, there are only 42,800 persons (0.1%) who admitted to having a taxable income exceeding Rs 1 crore.

I believe, Salaried class bears most of the tax burden as the Tax is deducted at source by employers.

How do you feel about these numbers ???

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