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76% of tax collected from those earning over Rs 50 lakh

IndiaTimes Wednesday, 13 November 2024
Over the past decade under Prime Minister Modi, India's tax burden has shifted significantly. The number of high earners (over Rs 50 lakh annually) filing taxes has increased fivefold, and their tax contributions have tripled. This shift has resulted in a reduced tax burden for the middle class, with those earning under Rs 7 lakh now exempt from income tax.
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