Lot of good things from the latest figures released by the IT dept.

Lot of good things from the latest figures released by the IT dept:

1) The no. of salaried taxpayers has increased from 1.70 crore to 2.33 crore in the last 3 yrs – rise of 37% : Indicates more jobs were created (or) more jobs were brought under organised segment.
2) Average income declared by the salaried taxpayers has gone up by 19% from 5.76 lakh to 6.84 lakh – Meaning Income also has been rising although we always talk about only Prices going up…
3) Growth of 19% in the no. of non-salaried individual taxpayers from 1.95 crore to 2.33 crore – more tax compliance is seen in this segment which is a good sign…
4) Average non-salary income declared has increased by 27% from 4.11 lakh to Rs 5.23 lakh
5) Direct Tax to GDP ratio is at 5.98% which is the best in the last 10 years
6) The no. of people who file tax returns has also increased by about 65% during this period from 3.31 crore to 5.44 crore

Way to go – but looks promising for now…