Revision as of 18:12, 23 July 2016

Income tax exemption limits:1949-2015,The Times of India, Jan 20 2015

Income tax rates in India: 1995-2015 Source: The Times of India

Arrears

Income tax rates in India, 2000-2016, Graphic courtesy: The Times of India

2015: 17 people owe Rs 2.14 lakh crore

The Times of India, Aug 01 2015

Just 17 people owe massive Rs 2.14 lakh cr in tax arrears

Just 17 individuals have a whopping Rs 2.14 lakh crore as outstanding tax arrears, with each of them owing more than Rs 1,000 crore. This is more than double the amount of total tax dues worth Rs 90,568 crore outstanding against 35 companies in this category (with outstanding tax arrears of over Rs 1,000 crore each), the Parliament has been informed.

Together, these individuals and companies account for more than one-third of the overall direct tax arrears (including the demand not fallen due), which stood at Rs 8,27,680 crore as on April 1, 2015.

At the same time, the number of taxpayers owing over Rs 10 crore to the government rose by about 69% to 4,692 in three years to March, 2015.

These details have been disclosed in written replies to the Rajya Sabha by minister of state for finance Jayant Sinha, who also said that a large proportion of the large-size outstanding tax arrears may not be collectible due to various reasons. Sinha said action for recovery is being taken.

Collection of tax

2011: 2.77% Indians pay I Tax

Only 2.77% Indians pay income tax

The Times of India, Sep 1, 2011

Just 2.77% of India’s 1.21 billion people pay personal income tax, official data has revealed. “The number of effective tax payers as on March 31, 2011 was 3,35,79,831 (33.57 million),” minister of state for finance S S Palanimanickam said in a reply to a question in the Rajya Sabha on Tuesday.

This is just 2.77 % of over 121 crore or 1.21 billion population of the country. The amount of direct tax collection rose to Rs 446,070 crore in 2010-11 from Rs 378,063 crore the previous year, the minister said. IANS

Rates of income tax in India: 1995-2015

See the chart on this page

Tax exemption limits over the years

See graphic

Women’s income

Urban women

The Times of India, July 26, 2011

Samidha Sharma & Namrata Singh

Urban women’s average income doubles in 10yrs

Mumbai: Reinforcing the growing financial independence of women in India, a survey says the income level of urban Indian women has doubled in the last decade. This increase has also led to the average urban household income doubling, according to a study by market research firm IMRB. The urban Indian woman, who earned Rs 4,492 per month in 2001, took home Rs 9,457 as of 2010. The rise in income is directly reflected in the average monthly household income of urban India going up from Rs 8,242 to Rs 16,509 in 2010, says the survey. While this seems impressive, urban incomes seem to have gone up significantly less than those of the average Indian. According to official data, India’s per capita income rose from Rs 16,688 in 2000-01 to Rs 54,835 in 2010-11, a rise of 228%. The IMRB figures suggest urban incomes in the same period rose by 100% and incomes of urban women by 111%.

“We have aligned our strategy, communication and products to women. And with the growing aspirations and financial independence of women not only in urban India but in tier II and tier III cities, women are at the core of our business. The woman today is buying for herself and for her family,” said Kishore Biyani, founder, Future Group.

Your income tax burden, 2010-16; Graphic courtesy: The Times of India Jan 6 2016

2001-10

Urban women’s avg income rose from 4,492/month in 2001 to 9,457 in 2010

Avg monthly household income of urban India rose from 8,242 to 16,509

No. of women doing household work dropped from 91% to 71%, says survey Women sourcing household work

As the income level of urban Indian women is rising fast, retail giant Future Group, which runs stores like Pantaloon and Big Bazaar, has seen the contribution of womenswear to overall sales more than double from 22% when it started operations to 55% at present.

What is significant in the survey is that with the woman’s personal income doubling, she is increasingly outsourcing household work. From 91% women saying they did household work themselves, the number has dropped to 71% in 2010, according to the survey. “With the average income of women and of urban households increasing over the years the propensity to spend has also gone up significantly. Although, there is a strong sense of deriving value for money out of all purchases made, the thought of putting all of the household income into savings is slowly diminishing,” said Ashish Karnad, group business director, IMRB International.

Brand experts say the changes over the last decade where more of the buying power is moving into the hands of woman has led to her influence in purchases even in categories predominantly of male consumption. “There remain very few areas of consumption in which the female does not increasingly participate today. Most household purchase decisions are either joint or exclusively female,” Tanya Dubash, ED, Godrej Industries.

See also

Direct taxes: India

Income Tax India: Expert advice

Income Tax India: Laws

Income Tax India: NRIs

Income Tax, India: Statistics: this page includes historical details of income tax rates and tax exemption limits over the years; how many Indians pay I Tax; how the income of women has risen over the years; the extent of tax arrears...

Wealth tax: India