TAX PAYERS vs POPULATION The India Population is around 120 Crores. The people below poverty line is estimated around 36%. Of the balance 64% direct tax payers are only about 20 Crores who obtained Permanent Account Numbers. Of the 20 Crores only about 7-8 Crores filed returns of income tax. Where the others have gone? It is reported in the preliminary family survey in Hyderabad on 17th August had revealed that there were more than 24 lakhs households against the records of the Municipal authorities of 16 lakhs. Thus it is clear the generated unaccounted money is being diverted to real estate. The authorities both of municipal and Income tax had not put sincere efforts. Similarly in entire India the proportion can be estimated. If the tax base is spread wide, the tax rates could be reduced. The corruption spots are clear and these are to be addressed by the Government and policy makers.
Posted on: Tue, 19 Aug 2014 05:41:42 +0000
Trending Topics
Recently Viewed Topics
© 2015