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Havish Gupta

Figuring Out • 1y

Many of you have know that only less than 5% population in india, pays taxes. But there is reason for it. According to this economic times report, only 1.8 crore people earn more than 5 lakhs annually (~2%). And if you earn less than 5 lakhs, you legally do not have to pay any taxes. So it is not that they dont pay taxes, there income is so low that they dont have to pay taxes. Other side to it: if you earn more than 5 lakh annually, you are the among the top 1% richest population in india.

7 replies18 likes

Replies (7)

Anonymous 1

Hey I am on Medial • 1y

Its just income tax, rest commodity taxes and service taxes are being already included in Mrp

2 replies3 likes

Anonymous 3

Hey I am on Medial • 1y

You don't understand. There are illegal ways to hide your income and stay below the limits. That's what salaried folks are unable to do. Without bills and accounts. No way for govt to know

2 replies

Havish Gupta

Figuring Out • 1y

By the way, current no tax limit has increased to 7 lakhs.

1 replies2 likes

Phanirockzzz

If nothing goes righ... • 1y

Bruh here you are not counting small apni Puri shops, teashops, burger shops etc. many small shops still don't allow you to pay through online. They are eliterally making nearly 50k to 5 lakhs some shops. This is where they are escaping.

1 replies1 like

Anonymous 2

Hey I am on Medial • 1y

The problem is that most people who earn way more than 5-7L never report their income and dodge income tax.

1 replies1 like

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