This income from their professions did not include that from other sources such as rent, interest and capital gains, the department said in a series of tweets.
Certain misinformation is being circulated in Social Media pertaining to individual return filers. CBDT clarifies:… https://t.co/aPnvU0Smsm— Income Tax India (@IncomeTaxIndia) 1581586843000
In the ITRs filed by individuals in current financial year,only about 2200 Doctors,Chartered Accountants, Lawyers &… https://t.co/TQ1N4XQbGP— Income Tax India (@IncomeTaxIndia) 1581587101000
“Certain misinformation is being circulated in Social Media pertaining to individual return filers,” CBDT said.
The statements came a day after PM Modi said that a very small number out of a total 1.3 billion Indians were paying tax.
“We have so many professionals – big doctors, lawyers, chartered accountants, etc. But only 2,200 professionals declare their annual income of over Rs 1 crore. Just 2,200 professionals! There would be more like this in the Supreme Court itself,” Modi had said.
The department added that the number of individual tax payers who have disclosed income above Rs 5 crore across the country was 8,600, while 316,000 individual tax payers have disclosed income above Rs 50 lakh.
In the current fiscal, 57.8 million individuals have filed returns for their FY19 income. On the other end of the spectrum, 10.3 million individuals showed income below Rs 2.5 lakh, while 32.9 million had taxable income between Rs 2.5 lakh and Rs 5 lakh.
A total of 43.2 million individuals have disclosed income up to ?5 lakh but are not liable to pay taxes since they are exempt under Finance Act 2019. This leaves only around 14.6 million individual tax payers liable to pay income-tax.
The department added that around 10 million individuals disclosed income between Rs 5 lakh and Rs 10 lakh, while 4.6 million declared income above Rs 10 lakh.
From process centric to citizen centric...towards a better tax system. https://t.co/w4UFan9Tf6— Narendra Modi (@narendramodi) 1581527301000
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123 Comments on this Story
AT Indian251 days ago
Saying is not enough. All machinery are in Modi's hand. Why not Modi do something that all start paying tax honestly. Modi should start putting people behind bars who hide their income and not pay tax honestly.
Satya Prasad251 days ago
People will not disclose more income now
Anil Kumar252 days ago
Tax payers, definitely, will be happy always, IF all political parties commonly decide, to avoid freebies Except, for on the grounds of economical criteria.. requires free education.. medical aid etc and taking care of senior citizens, BUT rest needs need not be subsidized / given any freebies, along with who has more than 2 children.