Tax base decline is very concerning
Six years ago, about 5.5 crore individuals filed income tax returns. That number jumped to 7.5 crore last year.
But, back then 3.3 crore people actually paid income tax - the rest filed null returns. Five years later only 2.8 crore people paid income tax - 63% were null returns. more
But, back then 3.3 crore people actually paid income tax - the rest filed null returns. Five years later only 2.8 crore people paid income tax - 63% were null returns. more
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Another way to find Tax evader is, when Govt collects GST, the GST Payer's Pan number must be given. Then Govt can find who are the higher GST payer. Such people can be checked if they are Income Tax Payee or not. If not then action can be taken against them. more
Nov 08
It is a no-brainer. Unless medium and large farm owners and intermediaries who hide behind tax-free farm income and enjoy yearly world tours and palatial farmhouses are included in taxation, tax base will remain what it is and with rising layoffs both in manufacturing and tech sectors, we will only see decline in the number of taxpayers and even tax collections. more
Nov 05
Govt figures are many a times marketing gimmick like. With some rise, blah blah starts....is it a matter to cheer up after 75 years of Independence. Target should be drawn to increase tax base say 20 crore and then YOY growth plan with constructive strategies in place. But being highly politically motivated country, this is intentionally ignored !! more
Nov 04
Recently went to attend a music concert in Bangalore. Ticket cost was ₹50. But they accept only cash. I did not buy the ticket. Like this there are shopkeepers who accept only cash, rent is accepted only in cash or not shown as income, rental accommodation is shown as self occupied to avoid paying rental property tax, many elite customers pay in cash only ..... There are many such who are tax defaulters. IT dept can hire more people and catch these defaulters. more
Nov 03
Govt. should introspect such serious matter. Now individual savings got declined. Still less no. of individuals only paid tax. why it happened so. Otherwise; there may be a hidden facts. more
Nov 03
