Only 1% of Indians Pay Income Tax

03.05.2016 • Emerging Markets

From the Vivek Kaul’s Diary (IND) – In the assessment year 2012-2013, around 28 million individuals filed income tax returns in India. The interesting thing nonetheless was that only 12 million individuals paid any income tax. Data from the World Bank shows that in 2011 the population of India was 1,247,000,000. This basically means that in assessment year 2012-2013, around 1% of India’s population basically paid income tax.

-Read more at EquityMaster.com (English) – 

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