Who are the biggest tax evaders in India?
*Next*
*T N Ninan*
The government gave out some interesting numbers on Monday. The revenue
secretary told a news conference that nearly 96 per cent of the 32.5 million
who pay income tax reported a taxable income of under Rs 5 lakh (Rs
500,000); and only 2.2 per cent (i.e. 715,000 people) reported taxable
income of over Rs 8 lakh (Rs 800,000).
Why is this interesting? Because when you match these with the income
numbers put out by the National Council of Applied Economic Research
(NCAER), on the basis of its household surveys, some numbers make sense
while others don't.
For instance, NCAER projected for 2009-10 that some 32.3 million households
would have annual incomes of over Rs 2 lakh (Rs 200,000) -- which is a
reasonably good fit with the total number of people paying income tax (the
threshold being taxable income of Rs 1.6 lakh -- Rs 160,000).
http://business.rediff.com/slide-show/2010/sep/07/slide-show-1-who-are-the-highest-tax-evaders.htm
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