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.
This story is from the November 14, 2024 edition of The New Indian Express.
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 14, 2024 edition of The New Indian Express.
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
Engaging emotional core makes up for preachiness
THERE has not been many films or series about characters sustaining a deep emotional wound carried from their childhood.
'Rebellion creates art'
At the 55th International Film Festival of India, filmmaker Shekhar Kapur, speaks about censorship, Masoom 2, and more
Sundeep Kishan to headline Jason Sanjay's directorial debut
N Friday, Lyca Productions announced the cast and crew of Jason Sanjay's directorial debut.
Spectacular Visuals elevate a generic yet charming story
BACK in 2016, when Moana hit theaters, it opened to a wave of positivity. At its core, the film conveyed the age-old message of good triumphing over evil.
FILMMAKING OVERTAKES STORYTELLING IN THIS MOSTLY EFFECTIVE PRISON DRAMA
We are often told that hell is for sinners and heaven is for the morally upright. In Sidharth Vishwanath's metaphorically rich Sorgavaasal, we are shown how the prison, which operates much like hell, is a place where sinners rule, and more often than not, the innocent are condemned to either rot or turn sinners themselves.
Paediatric urology: Why timely treatment matters
GENITOURINARY disorders are among the most common surgical issues in children, comprising over 40 per cent of paediatric surgical cases seen in clinical practice.
PILL SCARCITY & PERILS
While there is a worry of ban on over-thecounter emergency contraceptive pills, people share their difficulties in finding these drugs in pharmacies
WHOLESOME GOODNESS
OW much food do you feed your child – a small bowl, a third of the plate, or maybe using the \"fist-sized stomach\" rule? No matter how you measure, there's always that lingering question – \"Is my child full, or am I overfeeding them?\"
A fashion symphony
Shifting the lens on the artistes' attire rather than just their art, the Marvellous Marghazhi is back for a second time this Sunday
Plastic Pollution Negotiations at the Crossroads in Busan
India proposes dedicated multilateral fund to compensate developing countries for their transition towards plastic-free living - without overlap with the mandates of other multilateral agreements
