Five crore people are estimated to pay tax in current fiscal

Mumbai, Jun 9: More than five crore people are estimated to pay tax in the current fiscal, of which two crore are likely to pay taxes through the online medium, an online tax service portal today (June 9) said.

"We have projected more than five crore people are estimated to pay tax in the current fiscal, of which two crore people are likely to pay taxes through the online medium. This projections are on the basis of the trends seen over the past few years and also after discussing the matter with some government officials," Taxsum.com Chairman Sanjay Kapadiaa told reporters here.

He said in FY 11 4.1 crore people had filed returns of which 91.57 lakh were filed online. He envisages that in 2015-16, more than 10 crore people would file returns of which 7.5-8.0 crore people would file it online.

Kapadiaa said that in India out of 120 crore people, only 60 per cent were employed, and of those employed only 25 per cent had income above Rs 1.8 lakh (Income of upto Rs 1.8 lakh is not taxable). He said effectively only 4.17 per cent of the total population paid tax.

PTI