Current Affairs
Select Date
Tags:
Hindi

Maharashtra is the biggest contributor to income tax collections in India

Maharashtra contributed Rs. 2,77,720.11 crore, of the total Rs. 6,95,788.85 crore in income tax collections, in financial year 2014-15.  
•    This detail was released by the country's income tax department for the first time on 29th April 2016.
•    There are 10 categories of income tax in India – individuals, corporates, trusts, local authorities, government, partnership firms, Hindu Undivided Family (HUF), body of individuals, association of persons and artificial juridical person.
•    The number of individual tax payers has decreased by 3.70 lakh between financial years 2012-13 and 2013-14. 
•    In 2013-14, 4.87 crore individuals paid taxes, which was 4.90 crore in the previous year. 
•    In all, 7.14 lakh companies paid corporate tax in financial year 2013-14, a bit more than 7.03 lakh companies in the previous year
•    Overall, the number of income tax payees declined to 5.17 crore in financial year 2013-14 from 5.21 crore in the previous financial year.

All Rights Reserved Top Rankers