earnings Tax information exhibits entrepreneurs higher Off Than Salaried: record

The authorities final week launched 84 pages of earnings tax statistics, protecting people in addition to corporates, spanning a length of 16 years considering 2001-02. The records covers (1) PAN allotmentinformation in FY2014, (2) a time series information from FY2001-15 and (3) a deep-dive into FY2012 numbers. Kotak Equities achieved an evaluation of FY12 records.
right here are 10 exciting findings:
There were 37,248 crorepati people or human beings with profits of extra than Rs 1 crore (or Rs 10 million)inside the u . s . a ..Entrepreneurship can pay more than a salaried activity: 1.16 crore character assesses contributed Rs 6.3 lakh crore closer to earnings tax, at the same time as 1.64 crore business assesses accounted for Rs 12.7 lakh crore in earnings tax. less than 4,000 of 1.64 crore earnings tax filers had a loss in business earnings.The top 1 in line with cent of the individuals submitting earnings tax returns earnsnearly 13 consistent with cent of the whole profits.the bottom 50 in line with cent of the individualssubmitting returns (except zero returns) earns simplest approximately 20 in keeping with cent of the fullprofits.nearly 60 in line with cent of the 2.88 crore earnings tax returns filed had been zero earnings.24consistent with cent of individuals submitting go back (68 lakh people) are within the 1.five lakh tofive.five lakh bracket, even as 18 in step with cent of the full returns filed have been within the slab of 2lakh to five lakh, with a median income of Rs 337,473.3.8 in step with cent (or eleven lakh individuals)had been within the tax slab of Rs 10 lakh and above, with a mean earnings of Rs 22 lakh; 95 consistent with cent of the 11 lakh individuals are within the Rs 10 lakh to Rs 50 lakh bracket.only 27 lakh earningstax assesses said earnings from house belongings, because of this housing possession is not aswidely unfold as typically perceived.only three lakh profits tax assesses suggested lengthytime periodcapital profits earning, which indicates low penetration of asset ownership.There are simplest around 10 lakh senior citizens (65+ years) and 79,000 top notch-senior citizens (80+ years) earnings tax assessesinside the u . s . a ..
story first posted on: may also 03, 2016 18:17 (IST)

Tags: earnings tax statistics, direct tax information, marketers higher Off Than Salaried

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