India's tax filers have seen a significant surge in recent years, with the number of individuals reporting taxable incomes exceeding Rs 1 crore surging fivefold in the assessment year 2023-24. This growth has been driven by both an increase in the total number of taxpayers and an increase in the number of individuals with taxable incomes exceeding Rs 1 crore.
The story so far: The World Inequality Lab, a research centre at the Paris School of Economics, released the 2022 World Inequality Report on December 7, 2021. The report has found India to be one of the world’s most unequal countries, with the top 1% getting 21.7% of the national income. The report reveals that income inequality in India today …
Experts say income distribution system not about 'robbing the rich to aid poor' Central authorities endeavoring to narrow China's wealth gap and promote common prosperity are looking at the fast-expanding charitable sector as one of the routes to make a breakthrough in the "third distribution" of social wealth. In March, the term made its way into the country's 14th Five-Year …
Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Billionaire investor Carl Icahn declared a total income …
The Supreme Court in its judgment delivered on Tuesday shared an interesting information about the connection between Bangalore Club and former Prime Minister of Great Britain, Winston Churchill. In the judgment delivered today, the Court held that 'Bangalore Club' is not liable to pay Wealth tax under the Wealth Tax Act. In 2013, in Bangalore Club v. CIT 5 SCC …
