Just over 2 crore Indians paid income tax in 2015-16: Official data
New Delhi: Simply over 2 crore Indians, or 1.7 p.c of the full inhabitants, paid earnings tax within the evaluation yr (AY) 2015-16, in accordance with knowledge launched by the I-T division.
The variety of income-tax return filers elevated to four.07 crore within the evaluation yr 2015-16 (FY 2014-2015) from three.65 crore within the earlier yr however solely 2.06 crore really paid tax because the others claimed earnings beneath taxable limits.
Within the earlier AY 2014-15, 1.91 crore, out of three.65 crore who filed returns, had paid earnings tax.
However the whole earnings tax paid by people declined to Rs 1.88 lakh crore in AY 2015-16 from Rs 1.91 lakh crore in AY 2014-15.
The info, launched final week, signifies simply over three p.c of the 120 crore inhabitants filed returns. Of those, 2.01 crore paid nil earnings tax, 9,690 paid tax of over Rs 1 crore.
Just one particular person paid over Rs 100 crore in taxes (Rs 238 crore to be exact).
Most amongst of 19,931 crore was collected from 2.80 crore tax filers who paid between Rs 5.5 lakh to Rs 9.5 lakh in taxes.
As many as 1.84 crore returns have been filed for cost of earnings tax of lower than Rs 1.5 lakh or a median of Rs 24,000.
Of the four.07 crore tax returns discipline in AY 2015-16, near 82 lakh confirmed zero or earnings lower than Rs 2.5 lakh.
At present, no earnings tax is for earnings as much as Rs 2.5 lakh.
In AY 2014-15, three.65 crore filed tax returns with 1.37 crore exhibiting zero or lower than Rs 2.5 lakh earnings.
The mixed earnings of all particular person tax filers rose to Rs 21.27 lakh crore in AY 2015-16 from Rs 18.41 lakh crore within the earlier yr.
Most variety of 1.33 crore people have been in Rs 2.5 lakh to Rs three.5 lakh earnings group in AY 2015-16.
In all, four.35 crore earnings tax returns, together with these by people, have been filed in AY 2015-16. Complete earnings declared was Rs 33.62 lakh crore.
Within the earlier yr, three.91 crore returns have been filed with Rs 26.93 crore declared earnings.
Corporations filed 7.19 lakh returns with gross earnings of Rs 10.71 lakh crore.