Tax Thiefs

Do you know how many Indians sluice out imposeation revenuees and how much? You would be surprised with some of the numbers. According to the treat released by Indian Finance Ministry,  estimated number of taxpayers for financial yr 2011-12 stands at in effect(p) 3.24 Crore people.That means, less than 3 people in 100 pay taxes Out of these 3.25 Crore people, 89% pay taxes in the tax slab of 0 5 Lakh rupees, while on the other hold on of spectrum, notwithstanding 1.3% of all tax payers have income about 20 Lakh! depend of tax revenue Payers in India & their Slabs Slab| Number (in hundred thousands)| Percentage of taxpayers| 0-5 hundred thousand| 288.44| 89.00%| 5-10 lakh| 17.88| 5.50%| 10-20 lakh| 13.78| 4.30%| >20 lakh| 4.06| 1.30%|     ------------------------------------------------- The graph all the way shows the inequality in the earnings of Indian people Imagine, in a country of 120+ crore people, solo 4 lakh people earn above 20 lakh rupees a month. Now, if you consider that many cheat when it comes to taxes, even then the numbers are so skewed that it is mind-boggling. This following graph go forth show you further how much wealthiness is concentrated amongst only a miniscule few! Tax Collection by Tax Slabs Slab| (Rs. in crore)| Percentage of tax put in| 0-5 lakh| 15,010| 10.

10%| 5-10 lakh| 21,976| 14.80%| 10-20 lakh| 17,858| 12.10%| >20 lakh| 93,229| 63.00%|     ------------------------------------------------- The biggest surprise for me was although, only 1.3% of all tax-payers earn more than 20 lakhs in India, they account for a whooping 63% of all the taxes salt away by India n Government. So 4.6 lakh Indians pay a tota! l of 93,229 crore rupees of tax. That comes to an average of roughly 23 lakh per pass! Although, I was aware of this situation to a certain extent, later looking at the numbers in the report, I was interpret aback by amount of inequality we have in India! Would love to hear your comments on this! [Via]...If you want to get a full essay, order it on our website: OrderEssay.net

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