TAX burden on the middle class has come down noticeably over the last 10 years, a government source said on Wednesday.
He said that after the income tax exemption limit was raised from ₹2 lakh to ₹7 lakh, there has been a marked increase in the number of individuals filing zero income tax returns, a source told TNIE.
Since the introduction of the new exemption limit in 2024, there has been a notable decline in the percentage of income tax collection from taxpayers earning less than ₹10 lakh.
"The contribution of this group has decreased from 10.17% of the total tax paid in 2014 to just 6.22% in 2024," the source said.
هذه القصة مأخوذة من طبعة November 14, 2024 من The New Indian Express Bengaluru.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 14, 2024 من The New Indian Express Bengaluru.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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