Income Tax Payees Up 8%; Tax Payable Up 13%
There has been an 8% increase in tax assesses--from 36 million in assessment year 2013-14 to 39 million in assessment year 2014-15, according to data released by the income tax department.
Tax liability increased 13% from Rs 393,918 crore to Rs 446,719 crore.
As many as 61% of the assesses in 2014-15 were in the income range of zero to Rs 350,000, down from 64% in 2013-14.
There were 182 assesses with incomes in excess of Rs 500 crore in 2014-15 as against 206 in 2013-14.
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