Just 1% population pay taxes; over 5K paid more than Rs 1 cr

According to the latest data disclosed by the government for assessment year 2012-13, only 1% population of India pay taxes and over 5k paid more than Rs. 1 crore.

A total of 2.87 crore individuals filed e- returns and 1.62 crore did not pay any tax for the financial year 2012-13. Only 1.25 crore people paid tax at that time.

Only 3 individuals in the bracket of 100-500 crore paid a total tax of  437 crore resulting in  average tax outgo of Rs 145.80 crore.

Brooks Consulting Private Limited provides services for company formation in India or company registration in India.