{"id":266512,"date":"2023-10-27T18:39:59","date_gmt":"2023-10-27T13:09:59","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=266512"},"modified":"2023-10-28T10:26:29","modified_gmt":"2023-10-28T04:56:29","slug":"super-rich-incomes-share-ebbing-amid-middle-class-mobility-cbdt","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/super-rich-incomes-share-ebbing-amid-middle-class-mobility-cbdt\/","title":{"rendered":"\u2018Super rich\u2019 incomes\u2019 share ebbing amid middle-class mobility: CBDT"},"content":{"rendered":"\n

Source: <\/b>The post is based on the article <\/span>\u201c\u2018Super rich\u2019 incomes\u2019 share ebbing amid middle-class mobility: CBDT\u201d <\/b>published in <\/span>\u201cThe Hindu\u201d on 27th October 2023<\/b><\/p>\n

Why in the News?<\/b><\/h2>\n

Central Board of Direct Taxes(CBDT) has released data on <\/span>India\u2019s Tax base.<\/span><\/p>\n

What are the key highlights from the CBDT\u2019s data?\u00a0<\/b><\/h2>\n

\"\"<\/p>\n

Source: The Hindu<\/p>\n

1.<\/b>Widening Tax Base in India since 2013-14<\/b>: India’s tax base has significantly expanded since 2013-14.<\/span><\/p>\n

\u2013 The number of income tax returns filed by individuals has increased from 3.36 crore to 6.37 crore between assessment years 2013-14 and 2021-22.<\/span><\/p>\n

2.<\/span>Increased Taxpayer Diversity Across Income Ranges<\/b>: The number of returns filed by individual taxpayers in various income ranges has grown.<\/span><\/p>\n

\u2013 In the income range up to \u20b95 lakh, there has been a 32% increase in the number of returns filed, including those with incomes below the taxable limit.<\/span><\/p>\n

\u2013 For higher income ranges of \u20b95 lakh to \u20b910 lakh, the number of returns filed increased by 295%.<\/span><\/p>\n

3.<\/span>Share of Top 1% Individual taxpayers<\/b>: The share of the top 1% of individual taxpayers, compared to all individuals, has gone down from 15.9% to 14.6%.\u00a0<\/span><\/p>\n

\u2013 In contrast, the share of the bottom 25% of taxpayers increased slightly from 8.3% to 8.4% during the same time.<\/span><\/p>\n

4.<\/span>Gross Total Income:<\/b> The increase in average gross total income for top 1% individual taxpayers is 42% while that for bottom 25% individual taxpayers is 58%.<\/span><\/p>\n

UPSC Syllabus Topic:<\/b> Taxation<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201c\u2018Super rich\u2019 incomes\u2019 share ebbing amid middle-class mobility: CBDT\u201d published in \u201cThe Hindu\u201d on 27th October 2023 Why in the News? Central Board of Direct Taxes(CBDT) has released data on India\u2019s Tax base. What are the key highlights from the CBDT\u2019s data?\u00a0 Source: The Hindu 1.Widening Tax… Continue reading \u2018Super rich\u2019 incomes\u2019 share ebbing amid middle-class mobility: CBDT<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,1],"tags":[11872],"class_list":["post-266512","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-uncategorized","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":{"total":18,"cached_at":"","cached_date":1698472460},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/266512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=266512"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/266512\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=266512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=266512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=266512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}