Key Points
The average gross total income of individual taxpayers increased 56% to 7 lakh in assessment year 2021-22 from 4.5 lakh in assessment year (AY) 2013-14, the Central Board of Direct Taxes (CBDT) said on Thursday...
Citing data from income-tax returns, the apex direct taxes body said the increase in average gross total income of top 1% individual taxpayers was 42% while that of bottom 25% was 58%...
The proportionate contribution of the gross total income of the top 1% individual taxpayers vis-a-vis all individual taxpayers decreased to 14.6 % in AY 2021-22 from 15.9% in AY 2013-14...
The board said tax compliance in the period under review had improved and individual taxpayers had shown a positive trend of migration to a higher range of gross total income...
The number of income-tax returns filed by individual taxpayers increased 90% in eight years to 63.7 million in AY 2021-22, indicating a widening of the taxpayer base...
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