76% of tax collected from those earning over Rs 50 lakh
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.
India's direct tax collection witnessed a significant surge, reaching Rs 12.1 lakh crore between April 1 and November 10, reflecting a 15.41 percent increase.... IndiaTimes
The percentage of income tax collection from taxpayers earning less than Rs 10 lakh has reduced, from 10.17 per cent of the total tax paid in 2014 to 6.22 per... Zee News
Wednesday, 13 November 2024 ()
