76% of tax collected from those earning over Rs 50 lakh

Quick Summary:

The number of high earners (over Rs 50 lakh annually) filing taxes has increased fivefold, and their tax contributions have tripled.

Over the past decade under Prime Minister Modi, India's tax burden has shifted significantly.

This shift has resulted in a reduced tax burden for the middle class, with those earning under Rs 7 lakh now exempt from income tax.

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Article Details

Author / Journalist: Agencies

Category: EconomyBusiness

Markets: India

Topics: Income Tax Exemptions Modi Government Tax Policies Income Tax Return Filers 2023 Tax Burden Middle Class High Income Earners Tax Anti Tax Evasion Laws Income Tax Collection Tax Data Analysis India Tax Rates India 2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 03:36:07 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 558 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23575964

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 23 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 5 hours ago

Coverage Areas: India

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Publication Timezone: GMT +5:00

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News Language: English

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Publisher ID: #28

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