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20
December 2017
 |
Indian taxpayers (The
Total Investment & Insurance Solutions)
While
the number of Indian taxpayers earning over Rs 1 crore increased over 23.5 per
cent to 59,830 during the assessment year 2015-16, the larger number of
individuals in this category had Rs 50,889 crore less income than in the
previous year, data released by the government showed on Wednesday.
According
to data from the Central Board of Direct Taxes (CBDT), for fiscal 2014-15,
corresponding to tax assessment year 2015-16, 59,830 individuals with gross
total income of over Rs 1 crore had a cumulative income of Rs 1.54 lakh crore.
During
the previous assessment year (AY) 2014-15, the number of individuals with gross
income of over Rs 1 crore were 48,417 with a cumulative income of Rs 2.05 lakh
crore. The Total Investment & Insurance
Solutions
As
many as 4.07 crore individuals filed income tax returns in AY 2015-16, of whom
around 82 lakh showed zero income or less than Rs 2.5 lakh, which is not liable
for tax. The Total Investment & Insurance
Solutions
For
assessment year 2014-15, 3.65 crore people filed returns, with 1.37 of these
crore showing zero or less than Rs 2.5 lakh income.
The
combined income of all individual assessees rose to Rs 21.27 lakh crore in AY
2015-16, from Rs 18.41 lakh crore in the previous year.
The
Rs 2.5-3.5 lakh income category had the largest number of 1.33 crore
individuals during AY 2015-16. The Total
Investment & Insurance Solutions
There
were 55,331 persons with income between Rs 1 crore and Rs 5 crore during the
latest assessment year for which figures have been released. while there were
3,020 individuals with income between Rs 5 crore and Rs 10 crore, a total of
1,156 individuals had income between Rs 10 crore and Rs 25 crore in AY
2015-16.
The
number of individuals in the Rs 100-500 crore group rose to 31, from 17 in AY
2014-15. The Total Investment & Insurance
Solutions
The
CBDT data also showed that as many as 4.35 crore income tax returns, including
those by corporates, were filed in AY 2015-16 with total income declared of Rs
33.62 lakh crore. The Total Investment & Insurance
Solutions
"In
continuation of its efforts to place more and more information in public
domain, the CBDT has released data relating to distribution of income and tax
payable in respect of returns filed for the AY 2015-16," a Finance Ministry
release said here. The Total Investment & Insurance
Solutions
"With
this release, detailed income-tax data for four recent assessment years (apart
from Time-series Data from financial years 2000-01 to 2016-17) have become
available in public domain enabling researchers, scholars, policy makers,
students and all other stakeholders to make a better analysis of the trends in
incomes and tax payments," it added.The
Total Investment & Insurance Solutions
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