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Indian Tax Payers Analysis

income tax payment India needs to get their act together as year wise analysis will show that very few people are paying the taxes. We really need to get our act together as 45% of the population in United States pays taxes.
  • 2010 – 11 - 33739124 people from India paid taxes and it represents approx 3% of the Indian population.
  • 2012-13 - 3.5 lakh people i.e. 2.9% of the Indian population pay taxes.
Why we need to worry as a nation?

We need to worry as Indian government is planning to collect over Rs 6.68 lakh crore in direct taxes during 2013-14, up from Rs 5.65 lakh crore in the previous fiscal. Now we can achieve the same just by monitoring the recruitment process of new graduates.

Another thrust area which can be implemented ruthlessly is collection of service tax and cash transactions should be curbed totally.

India is a country where presently youth population or earning hands is more when compared with older generation. Have a look at this fact that every year around a million students graduate from universities across India so the number of tax payers should increase by at-least a million. However same may not be possible as not all students manage to get a salary which exceeds the basic Income Tax slab. However even on conservative estimates we should at least see an increase by 5 Lakh every year.

Hope that as a nation we grow and if you desire you can check out the procedure to make online service tax payment in India here and it is very simple to make online tax payment. We will call on the nation to pay their taxes properly as more our economy grows more as a nation we shall grow.

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