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In India, only 46 Lacs Individuals tax payers pay Income Tax
Income breakdown by individuals
10 Lac to 50 Lacs – 43 Lacs Indl Income of 50Lac-5 Crores – 3.16 Lacs Indl Only 8600 Individual with income more than 5 Crores (2200 professionals with 1 Crore income) IRONIC? Manipulation?
2.1 Crore bikes sold in 2019
34 Lacs Passenger vehicles sold in 2019
5 Crores Individual traveled abroad in 2019
P.S. The sale is only for one year and Tax payer base is as on 2019
Is this ‘Riches Poverty’?