RThere were less than 20,000 assesses in 2012-13 declaring income in excess of a Rs 1 crore a year. Of the 3.1 crore returns filed in the year, maximum 20 lakh were in the tax bracket Rs 5.5-9.5 lakh.
The Income Tax Department has released Time Series Data for Financial Year 2000-01 to 2014-15 to encourage wider use and analysis. Prime Minister Narendra Modi said it was a “landmark” decision to publish income tax data.
The number of effective assesses has increased to 5.17 crore in assessment year FY15, 4.36 crore in 2011-12. The number is based on income-tax returns plus number of cases where tax has been deducted at source.
Share of direct taxes to GDP touched a high of 6.3% in 2007-08 and has since declined to 5.47% in 2015-16. It was 3.25% in 2000-01. Maharashtra had the biggest share in direct taxes at RRs 2.77 lakh crore in 2014-15 when total collections were Rs 6.96 lakh crore. Delhi was second biggest contributor at Rs 91,248 crore followed by Karnataka. Direct taxes made up for 36.31% of the total taxes in 2000-01 and the ratio has risen to 51% in 2015-16.