Just 14 lakh people out of the 2.89 crore assessees in the nation pronounced a yearly salary of over Rs. 10 lakh, pulling in the most astounding expense section of 30 for every penny, in appraisal year 2012-13.
According to the Income Tax Return Statistics for Assessment Year 2012-13, 14 lakh individuals or only 4.6 for each penny of the aggregate assessees paid charges in the most astounding 30 for every penny charge section.
There are 2.89 crore assessees in the nation.
These 14 lakh individuals represented 75 for every penny of the aggregate individual wage charge gathering.
"The information uncovers plainly that there is a requirement for broadening and extending of the expense net now," Revenue Secretary Hasmukh Adhia told PTI.
The examination further uncovered that of 2.89 crore citizens who documented returns, 1.63 crore (56.4 for each penny) did not pay charges and 0.84 crore assessees (29.3 for each penny) were in the 10 for each penny charge section.
Taken together, these two portions constitute more than 85.5 for each penny of the individual expense base.
The information appeared there were 2,669 citizens with a wage surpassing Rs. 5 crore, representing 9.6 for every penny of expenses gathered.
The information additionally appeared there were 1.51 crore people whose duty was deducted at source, however did not document returns.
Had they documented the profits, the quantity of wage citizens recording returns could have gone up to 4.4 crore in 2012-13, from 2.89 crore.
The income office, sources said, will soon turn out with crisp information for appraisal year 2013-14, and it will be utilized as a part of defining procedure for enlarging the assessment base.
According to the I-T Act, individuals gaining beneath Rs. 2.5 lakh for every annum are absolved from paying assessments.
Those with salary between Rs. 2.5 lakh to Rs. 5 lakh pay a 10 for each penny charge while Rs. 5 lakh to Rs. 10 lakh give 20 for each penny charge. Individuals with pay above Rs. 10 lakh pay 30 for each penny charge.
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