Individual Taxpayers Numbers Earning Above 10 Lakh Rupees Increases By 260 Percent Since AY 2015-16

Taxpayers Data: In the last few years, especially after demonetisation, there has been a tremendous jump in the number of tax payers. The reason is the effort of the Income Tax Department to bring more and more people under the tax net, which has also paid off. So in the last few years, the tax department has also taken many steps to stop tax evasion. Services have increased for taxpayers and compliance has also increased along with it. As a result, since the Modi government came to power, the number of taxpayers has increased by 58 percent, there has been a tremendous jump in tax collection.

The government has given an answer to the question asked in the Parliament, in which this information has come to the fore that between the assessment year 2015-16 to 2021-22, such individual taxpayers whose annual income is more than Rs 10 lakh, there is a tremendous increase in their number. Got it. In 2015-16, the number of taxpayers with an annual income of more than Rs 10 lakh was only 22,54,532, which has increased by 260 percent to 81,06,067 by the assessment year 2021-22. If we look at the number of taxpayers earning Rs 5 to 10 lakh, their number was 53,34,381 in the 2015-16 assessment year, which has increased to 1,40,74,602 in the 2021-22 assessment year with a jump of 163 per cent.

According to the data presented by the government, the number of taxpayers with an annual income of Rs 5 lakh was 3,23,71,825 in the assessment year 2015-16, which has increased by 27 percent to 4,11,60,543 by the assessment year 2021-22. The total number of taxpayers in the 2015-16 assessment year was 3,99,60,738, which has increased by 58 percent to 6,33,38,212 taxpayers in the 2021-22 assessment year.

When the Modi government came to power in 2041-15, the personal income tax collection was Rs 2,58,371 crore, which increased to Rs 6,73,413 crore in 2021-22. The corporate tax collection was Rs 4,28,924.74 crore in the 2014-15 financial year, which increased to Rs 7,12,037 crore in 2021-22.

TMC MP Mohua Moitra asked the Finance Minister in the Lok Sabha for information about personal income taxpayers and corporate taxpayers according to tax slabs in the last 8 years, to which Minister of State for Finance Pankaj Chaudhary has given the answer. These things have come to the fore in the same answer.

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