Only 14 lakh individuals fell in 30% tax bracket in 2012-13

August 18, 2016

New Delhi, Aug 18: Only 14 lakh individuals out of the 2.89 crore assessees in the country declared an annual income of over Rs 10 lakh, attracting the highest tax bracket of 30 per cent, in assessment year 2012-13.income-tax

As per the Income Tax Return Statistics for Assessment Year 2012-13, 14 lakh people or just 4.6 per cent of the total assessees paid taxes in the highest 30 per cent tax bracket. There are 2.89 crore assessees in the country.

These 14 lakh people accounted for 75 per cent of the total personal income tax collection.
"The data reveals very clearly that there is a need for widening and deepening of the tax net now," Revenue Secretary Hasmukh Adhia told PTI.

The analysis further revealed that of 2.89 crore taxpayers who filed returns, 1.63 crore (56.4 per cent) did not pay taxes and 0.84 crore assessees (29.3 per cent) were in the 10 per cent tax bracket.

Taken together, these two segments constitute more than 85.5 per cent of the individual tax base.

The data showed there were 2,669 taxpayers with an income exceeding Rs 5 crore, accounting for 9.6 per cent of taxes collected.

The data also showed there were 1.51 crore individuals whose tax was deducted at source, but did not file returns. Had they filed the returns, the number of income tax payers filing returns could have gone up to 4.4 crore in 2012-13, from 2.89 crore.

The revenue department, sources said, will soon come out with fresh data for assessment year 2013-14, and it will be used in formulating strategy for widening the tax base.

As per the I-T Act, people earning below Rs 2.5 lakh per annum are exempt from paying taxes. Those with income between Rs 2.5 lakh to Rs 5 lakh pay a 10 per cent tax while Rs 5 lakh to Rs 10 lakh give 20 per cent tax. People with income above Rs 10 lakh pay 30 per cent tax.

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News Network
April 16,2020

Kochi, Apr 16: As many as 268 British citizens stranded in Kerala due to the nationwide lockdown were airlifted by British Airways on Wednesday from Thiruvananthapuram and Cochin International Airports.

The flight took off from Thiruvananthapuram to London's Heathrow Airport with 110 passengers at 7.30 pm. Later, 158 more passengers boarded the flight from Cochin airport at 10.07 pm.
A medical team, including four doctors, screened the passengers at the Thiruvananthapuram airport before they boarded the flight.

Earlier this month, the first charter flight from India reached London's Stansted with 317 British nationals on board from Goa.

The British government had earlier announced the operation of 19 chartered flights to evacuate its nationals who are stranded in India amid travel restrictions owing to the coronavirus crisis.

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News Network
February 16,2020

New Delhi, Feb 16: RSS chief Mohan Bhagwat on Saturday said everyone is unhappy in the society and constantly agitating notwithstanding a "many-fold rise" in materialistic comforts and pleasures.

Addressing a gathering of Sangh workers and intellectuals here in Gujarat, Mr Bhagwat also said that even political parties who are not in power are also agitating.

"Inspite of increase in comforts and materialistic pleasures, everyone is unhappy and is staging agitations. Be it owner or servant, a party in opposition, the common man students, teachers, everyone is unhappy and dissatisfied," the Rashtriya Swayamsewak Sangh (RSS) chief said.

He was speaking on the topic "India's Role in the Present World Context".

Mr Bhagwat further said that bigotry, violence and terrorism are on the rise in the present world.

"India has to give 'dharma'  (wisdom) to the world so that knowledge spreads but humans do not become robotic. We have always talked about the concept of global family but not global market," he said.

The lecture was organised by "Madhav Smruti Nyas", an organisation backed by the RSS.

"To think that we are living in a better world is a half truth. Facilities are not evenly distributed. Rule of Jungle is prevailing. A capable person is crushing the weak to climb up. Knowledge is used more for the destruction of the world," the Sangh chief said.

Mr Bhagwat said people are also misusing social media by spreading "false information" to create controversies.

He also stated that trying to put "everyone into one uniform" is also a form of bigotry.

"US and Russia are super powers. China would become a super power too. Now, what super power nations did to others? They just took control of other countries for their own selfish agenda. These super powers gave it back only when they were asked to do so. Otherwise, they never gave anything to others," said Mr Bhagwat.

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News Network
January 13,2020

New Delhi, Jan 13: The Jawaharlal Nehru University Students' Union (JNUSU) has alleged that the varsity administration has blocked the registration of 300 students on the basis of 'fake Proctor inquiries'.

The union had on Saturday asked students of the university to pay their academic tuition fee but not the hiked hostel fee.

"Today the Vice Chancellor first blocked the fee payment portal and then blocked the payment of tuition fees. It is clear that the VC was lying through the teeth when he said students want to register but are not being allowed to by protesters," JNUSU president Aishe Ghosh said.

She said the VC has also blocked the registration of 300 students based on fake proctor enquiries which are not even completed.

"The truth is that it is the administration which does not want students to register and is blocking their registration," she said.

JNUSU vice president Saket Moon said that in the meetings held in HRD ministry, it was decided that the administration would take a lenient view on the students' protest and not take action against them.

He said many students, who opened the portal for registration found they had been academically suspended and could not register.

He said the JNUSU had softened its stand by saying that they would register by paying the old fees but that has been kept on hold.

On Sunday, the administration extended the date for the winter semester registration till January 15.

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