Slabs Of Taxes Applicable

In upcoming Lok Sabha elections, not only the political parties but also IT departments work their heads off. The slabs concluded are:

1. No. Of Persons Filing IT Returns:
13-14. 3,31,47,372
14-15. 3,51,02,458
15-16. 3,90,57,028
16-17. 4,47,04,734
17-18. 5,43,91,232

That means an Increase of 64.09% as compared to 13-14.

2. No. Of IT Returns filed [Revised]:
13-14. 3,79,76,554
14-15. 4,04,33,614
15-16. 4,63,04,045
16-17. 5,57,09,086
17-18. 6,85,32,510

That means a Whopping Increase of 80.46% as compared to 13-14.
Also, Please Note that the number of Revised Returns has increased manifold due to Fear Instilled in Tax Evaders after Demonetization.

3. No. Of Tax Payers:(A taxpayer is a person who either has filed IT return or in whose favor, Tax has been Deducted At Source, In case he has not filed IT Return)
13-14. 5,27,93,542
14-15. 5,71,58,811
15-16. 6,15,23,699
16-17. 6,92,73,834
17-18. 7,41,27,250

That means an Increase of 40.41% as compared to 2013-14.

4. Direct Tax Receipts:
(figures in Crores)
13-14. 7,21,604
14-15. 7,99,459
15-16. 8,64,369
16-17. 10,12,401
17-18. 11,54,436

That means an Increase of 59.98% as compared to 2013-14.

5. Indirect Tax Collection:
(Figures in Crores)
13-14. 4,95,347
14-15. 5,43,215
15-16. 7,11,885
16-17. 8,61,515
17-18. 9,15,256

That means a Whopping Increase of 84.77% as compared to 2013-14.

6. Direct Tax to GDP Ratio:
13-14. 5.62%
14-15. 5.55%
15-16. 5.47%
16-17. 5.57%
17-18. 5.98%

India has now begun to follow financial discipline which will help the people of all slabs. This income tax money is used for our own development.