Modi’s allegations are not fake, Check the income tax payers statistics !

Prime Minister Narendra Modi claimed that out of a total population of 130 crore, only 1.5 crore population pay income tax to the government. By replying to this, the Income-tax department said that only 1.46 crore people pay tax on their income in the country. So, when PM Modi said that only 1.5 crores pay income tax, he was not misleading or lying, In fact, he had rounded up 1.46 crore to 1.50 crore.

To dispel the false allegations of fake data against the Modi, the Income Tax department has issued clarifications through tweets saying that the numbers given by Modi were correct.

Continuing the tweet series, the CBDT said: “Only around 1.46 crore individual taxpayers are liable to pay income-tax. Further, around 1 crore individuals disclosed income between Rs. 5-10 lakh and only 46 lakh individual taxpayers have disclosed income above Rs.10 lakh”.

Further certain misinformation is also spreading over the social media regarding the individual return filers, against that the CBDT tweeted about the individual taxpayers statistics as follows:

  • During the current financial year, 5.78 crore individuals filed returns disclosing income of the financial year 2018-19. Of these,1.03 crore have shown income below Rs 2.5 lakh and 3.29 crore individuals disclosed taxable income between Rs 2.5 lakh to Rs 5 lakh, it added. Of the 5.78 crore returns filed during this financial year, 4.32 crore individuals have disclosed income up to Rs 5 lakh.”
  • As the budget 2019 exempted individual taxpayers having income up to Rs 5 lakh, so 4.32 crore individual taxpayers having income up to Rs 5 lakh would not be liable to pay tax for the current FY20 and the upcoming years.
  • Further, there are only 3.16 lakh individual taxpayers who have income more than Rs 50 lakh and disclosed by them.
  • The number of individual tax payers who have disclosed income above Rs 5 crore is only around 8,600.
  • Considering about the professionals, only about 2200 Doctors, Chartered accountants, lawyers, and other professionals have disclosed annual income of more than Rs 1 crore from their profession excluding other incomes like rental, interest, capital gains among others in the returns filed in the financial year.

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