Income of many people in India is more than 1 crore

Feb 14 2020 05:38 PM
Income of many people in India is more than 1 crore

There are so many people in India whose annual income is more than 1 crore and they have given information about it. Apart from this, the Income Tax Department has disclosed this through several tweets. The department has shared information related to tax returns in the financial year 2018-19, along with the Income Tax Department wrote in the tweet, 'In the current financial year, about 2200 doctors, chartered accountants, lawyers, and other such professionals have made 1 crore from their profession. Has disclosed an annual income of more than Rs, which does not include other income such as rent, interest, capital gains. It is being told that Prime Minister Narendra Modi on Wednesday urged people to pay tax for the development of India.

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The Prime Minister said that when many people did not pay tax and found a way to avoid it, the burden falls on those who pay their dues honestly. He said that this is unbelievable but it is true that only 2,200 people in the country reported that their annual income was 1 crore. Apart from this, the Income Tax Department tweeted that some wrong information is being shared on social media. In a series of tweets, the Income Tax Department shared information about ITR filings for the fiscal year 2018-19.

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In the current financial year, 5.78 crore people filed returns disclosing the income for the financial year 2018-19. In the current financial year, 5.78 crore people filed returns disclosing the income for the financial year 2018-19. Along with this 1.03 crore persons showed income below 2.5 lakh whereas, and 3.29 crore persons have disclosed taxable income which is between 2.5 to 5 lakh rupees. Out of 5.78 crore returns filed during this financial year, 4.32 crore individuals have disclosed income up to 5 lakh.

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