According to data released by the IT department, only 2 crore Indians or 1.7% of the total population of the country paid income tax in the assessment year 2015-16. In the assessment year 2015-16, the number of income tax filers increased to 4.07 crore from 3.65 crore in the previous year but only 2.06 crore out of the total paid tax while others claimed income below the taxable limit.
In the previous AY 2014-15, about 1.91 crore Indians out of 3.65 who filed returns had paid income tax. The total income tax paid by the individuals declined to Rs.1.88 lakh crore in AY2015-16 from Rs.1.91 lakh crore in AY 2014-15. This report shows that only over 3% of the total population of 120 crore filed returns. Out of these, 2.01 crore paid nil income tax, 9,690 paid a tax of more than Rs.1 crore and only one individual paid more than Rs.100 crore in taxes, which is Rs.238 crore to be precise.
The maximum of 19,931 crore was collected from 2.80 crore tax filers who had paid between Rs.5.5 lakh to Rs.9.5 lakh in the form of income tax. About 1.84 crore returns were filed for the payment of income tax of less than Rs.1.5 lakh or an average of Rs.24, 000.
There were a total of 4.07crore tax returns filed in AY 2015-16 and close to 82 lakh showed zero or an income less than Rs.2.5 lakh. There is no income tax for an income upto Rs.2.5 lakh. In the AY 2014-15, 3.65 crore individuals filed tax returns with 1.37 crore showing a zero income or less than Rs.2.5 lakh income. The combined income of all the individual tax filers rose to Rs.21.27 lakh crore in AY 2015-16 from Rs.18.41 lakh crore in the previous year. Most number of the 1.33 crore individuals were in Rs.2.5 lakh to Rs.3.5 lakh income group in AY 2015-16. In total, 4.35 crore income tax returns which include those by individuals had been filed in AY 2015-16. The total income declared was Rs.33.62 lakh crore. In the previous year, 3.91 crore returns had been filed with Rs.26.93 crore declared income and the companies filed 7.19 lakh returns with a gross income of Rs.10.71 lakh crore.