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Wednesday, February 28, 2024

Income tax paid by less than 1 crore Indians, 54% share of 6 states

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As per the statistics of the country’s states’ share in the tax-duty, which have been found out by the Centre, and have been mentioned in the Finance Ministry’s reports, the number of taxpayers in the country has gone up by a whopping 286% in the last 8 years, and a 247% increase has been recorded in the direct tax, and tax-exempt taxpayers have increased by 414%.

On the other hand, the number of millionaires in the country is going up every year at a rate of 11%. As per the government, during 2021-22, the people with a total earning of 1 crore rupees, increased from 10 lakhs to 77 lakhs. And within a year, people with total assets worth more than 7 crore rupees increased by 11% and became 4.58 lakhs.

As far as tax collection is concerned, the states receive 10.21 lakh crore rupees as their share, with Uttar Pradesh being at the top with 1.8 lakh crore rupees, which is 18% of the total. Bihar’s share is 10%, followed by Madhya Pradesh with 8%, and Maharashtra and Rajasthan receiving 6% each.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

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