‘Super rich’ incomes’ share ebbing amid middle-class mobility: CBDT
The HinduIndia’s tax base has widened sharply since 2013-14, with individuals moving up the income ladder and the proportion of super-rich taxpayers’ incomes declining, the Central Board of Direct Taxes said on Thursday, days after the Congress cited income tax data to show widening income inequality in the country. The overall number of income tax returns filed by individuals has risen from 3.36 crore to 6.37 crore through assessment years 2013-14 to 2021-22, while there is also an increase in number of returns filed by individual taxpayers across various ranges of gross total income, the CBDT said in a statement. “In the range of gross total income up to ₹5 lakh, the number of returns filed by individual taxpayers has increased from 2.62 crore in AY 2013-14 to 3.47 crore in AY 2021-22, registering an increase of 32%. “This indicates that individual taxpayers are showing a positive trend of migration to higher range of gross total income,” the CBDT said. “The proportion of gross total income of middle 74% group of individual taxpayers increased from 75.8% to 77% in the above period,” the statement said, adding that the average gross total income for individual taxpayers increased from about ₹4.5 lakh to about ₹7 lakh over the nine-year period, representing an increase of 56%.
History of this topic
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