As per income tax data, the number of filers above 50 lakh increased five fold from 1.85 lakh in 2013-14 to 9.39 lakh in 2023-24, while their tax liability shot up 3.2 times from ₹2.52 lakh crore to ₹9.62 lakh crore. In other words, they contribute the lion's share of about 76 percent to the annual income tax kitty. On the other hand, the share of those earning less than 10 lakh reduced from 10.17 percent to 6.22 percent and, after adjusting for inflation, it translates to an almost 60 percent decline in tax liabilities over the decade.
This story is from the November 16, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 16, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Change the drape game
Sari, the iconic garment steeped in centuries of history, is experiencing a remarkable revival, thanks to this groundbreaking collaboration
Recognising atypical symptoms of diabetes in the elderly
DIABETES is becoming an increasingly prevalent and debilitating condition, affecting both the youth and elderly, particularly those over the age of 40.
A WINTER MEAL WITH THE WAZA
Kashmiri chef Tariq Ahmed, a Waza, brought his best game at a Kashmiri food festival. He breaks down the spirit of Wazwan rooted in togetherness, celebration, and the use of fresh and local ingredients.
Italy, France book Nations League quarters spot
ITALY ensured qualification for the Nations League quarterfinals with a victory over Belgium on Thursday that also guaranteed France a place in the last-eight despite a lacklustre display in a scoreless draw with Israel under tight security in Paris.
574 players listed for IPL auction, 13-yr-old youngest
RISHABH Pant, Shreyas Iyer, KL Rahul and Arshdeep Singh will headline a 574-strong list of players with a top base price of ₹2 crore at the Indian Premier League auction scheduled in Saudi Arabia's Jeddah on November 24 and 25.
Kamboj 3rd to claim perfect 10
HARYANA pacer Anshul Kamboj entered the record books on Friday as he became only the third bowler in the history of Ranji Trophy to claim all 10 wickets in an innings.
Badoni hits unbeaten ton in Delhi's strong reply
SKIPPER Ayush Badoni slammed an unbeaten 116 as Delhi scored 238/5 in reply to Jharkhand's first innings total of 382 in their Ranji Trophy match on Friday.
Fulton presses for restructure
IMMEDIATELY after winning the bronze medal at the Paris Olympics, neither the Indian men's hockey team nor their head coach Craig Fulton had much time to celebrate.
Rahul suffers blow on right elbow
IF any player that has managed to attract so much media attention before a series, it has to be KL Rahul this time Down Under.
Samson-Tilak carnage @ J o,burg
THIS has been a glorious TZOI year for the Indian team and their batters ringfenced 2024 with a sort of hedonism you wouldn,t have associated with this team even a few years ago.
