bulbul Posted April 30, 2016 Posted April 30, 2016 Quote 1. Among 120 crore Indians, only about 4% (5.1 crore) filed Income Tax returns in 2015-16. An even smaller number, only 1.3 crore individuals in 2014-14, paid income tax.2. Just two states, Maharashtra (39.9%) and Delhi (13.1%) pay 53% of India's total income tax.3. There are just over 10 lakh income tax assesses in India declaring income in excess of Rs 10 lakh a year.4. There were less than 20,000 assesses in 2012-13 declaring income in excess of a Rs 1 crore a .. http://economictimes.indiatimes.com/wealth/tax/these-9-points-in-government-data-show-what-india-pays-in-taxes/articleshow/52053092.cms
Singh bling Posted April 30, 2016 Posted April 30, 2016 Indirect taxes are best for Indian economy , exemption in agriculture income plus large workforce is self employed, those people will hardly declare their income and TBH they don't have each year as same , so unless they have windfall of profit for many years they will not pay tax This also show how poorly Indians are working in organised sector
Debutant Posted May 2, 2016 Posted May 2, 2016 This is surprising. So percentage of Indians who are salaried employees would be even less
rkt.india Posted May 2, 2016 Posted May 2, 2016 3 hours ago, Debutant said: This is surprising. So percentage of Indians who are salaried employees would be even less Not every salaried employee is taxable.
Debutant Posted May 2, 2016 Posted May 2, 2016 1 hour ago, rkt.india said: Not every salaried employee is taxable. Yeah but lets say 50% of the salaried employees would definitely be taxed, right.
bulbul Posted May 2, 2016 Author Posted May 2, 2016 Yeah but lets say 50% of the salaried employees would definitely be taxed, right. No need...many employees in small scale industries earn less...if you see this report only 10 lakh people are in above 10 lakh per annum bracket.
Debutant Posted May 2, 2016 Posted May 2, 2016 8 minutes ago, bulbul said: No need...many employees in small scale industries earn less...if you see this report only 10 lakh people are in above 10 lakh per annum bracket. There are many who are between 3lakhs to 10 lakh and they are taxed.
bulbul Posted May 2, 2016 Author Posted May 2, 2016 16 minutes ago, Debutant said: There are many who are between 3lakhs to 10 lakh and they are taxed. yes..but there will be many below 3 lakhs..especially woman who works in garments...i guess Garment factories employs around 3 crore+ prople
coffee_rules Posted May 3, 2016 Posted May 3, 2016 That's why we have taxes on luxury items - pizzas, coffee in a ac coffee shop, - VAT! The business community that operate on cash only get away without paying taxes.. rkt.india 1
diga Posted May 4, 2016 Posted May 4, 2016 Quote if only only one of the spouses work in a family of 4 & add 2 retired parents = 6. Taxpayers = 1/6 = 16.67%. Lets say one family makes less 3L/year and with exemptions has 0 tax liability. Taxpayers in system = 1/12 = 8.33% approximate calculation of tax payers in the system... but its still less :(
Crookbond Posted May 10, 2016 Posted May 10, 2016 On April 30, 2016 at 11:32 PM, Singh bling said: Indirect taxes are best for Indian economy , exemption in agriculture income plus large workforce is self employed, those people will hardly declare their income and TBH they don't have each year as same , so unless they have windfall of profit for many years they will not pay tax This also show how poorly Indians are working in organised sector NO. Indirect taxes are the WORST for an economy like India. They tend to get passed on to the consumer and affects the poor..
Singh bling Posted May 10, 2016 Posted May 10, 2016 9 hours ago, Ra's Al Ghul said: NO. Indirect taxes are the WORST for an economy like India. They tend to get passed on to the consumer and affects the poor.. Not true basic food and medicines should be spared of indirect taxes , while luxury items should be heavily taxed , in India Dhaba's don't charge vat or service tax while AC restaurent charge service tax as well VAT , now this is perfect , poor don't go to luxury restaurents .Similarly basic need should be spared from indirect tax , after that govt should extract as much tax as they want
Crookbond Posted May 17, 2016 Posted May 17, 2016 On May 10, 2016 at 6:51 PM, Singh bling said: Not true basic food and medicines should be spared of indirect taxes , while luxury items should be heavily taxed , in India Dhaba's don't charge vat or service tax while AC restaurent charge service tax as well VAT , now this is perfect , poor don't go to luxury restaurents .Similarly basic need should be spared from indirect tax , after that govt should extract as much tax as they want That's not what "Indirect Taxes" mean. We already have indirect taxes on luxury items. FYI, Dhabas are evading taxes by not charing VAT or service Tax.
Singh bling Posted May 18, 2016 Posted May 18, 2016 12 hours ago, Ra's Al Ghul said: That's not what "Indirect Taxes" mean. We already have indirect taxes on luxury items. FYI, Dhabas are evading taxes by not charing VAT or service Tax. Dhaba's are exempted in Haryana , while in Delhi minimum turnover to require register is 20 lakhs and small eateries hardly have this type of turnover
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