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Incredibly, car buyers outnumber tax payers in India
Around 25 lakh cars are being purchased annually while 24.4 lakh tax payers earn above Rs 10 lakh
According to a PTI report, our country has more car buyers than tax payers. As astonishing as it may sound, the information was revealed by a top official based on the taxpayers data. In our country, only 3.65 crore individuals pay tax to the government out of a total population of over 120 crores.
Among the taxpayers, around 5.32 lakh individuals have an income below Rs 2 lakh and are hence not within the tax bracket. Around 24.4 lakh individuals have an annual income above Rs 10 lakh while 1.47 lakh individuals have an annual income of...
First Published:Dec 28, 2016, 19:36:38 IST
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