Do you know how many Indians pay Taxes and how much?
You would be surprised with some of the numbers. According to the report released by Indian Finance Ministry, Number of taxpayers for financial year 2011-12 stands at just 3.24 Crore people.
Thats means, less than 3 people in 100 pay taxes
Out of these 3.25 Crore people,
89% pay taxes in the tax slab of 0 – 5 Lakh rupees,
6% pay taxes in the tax slab of 5 – 10 Lakh rupees,
4% pay taxes in the tax slab of 10 –20 Lakh rupees,
1% pay taxes in the tax slab of 20 –100 Lakh rupees,
only 42800 people with 1 Cr/annual Taxable Income
Another Interesting stats of TAX Collection amount from these individuals
. Comments are Welcome
See if 10% of Indians pays TAX with honestly where country can go………Think about it