I-T department supports PM Modi's claims

By VARINDIA - 2020-02-18

I-T department supports PM Modi's claims

Prime Minister Narendra Modi while speaking at the Times Now summit on Wednesday (13 February) hinted at the dire straits of tax compliance in India.

 

Backing up the statements made by PM Modi, the Central Board of Direct Taxes (CBDT) said only 2,200 persons disclosed annual income of more than ₹1 crore from their professional work.

 

They include doctors, chartered accountants and lawyers who disclosed income of 2018-19 in this financial year so far. The department also said only around 8,600 individuals disclosed income above ₹5 crore.

 

This income from the professionals do not include other sources such as rent, interest, capital gains, said the department in a series of tweets.

 

“Certain misinformation is being circulated in social media pertaining to the individual return fillers,” CBDT said.

 

The statements came a day after PM Modi said that a very small number out of the total 1.3 billion Indians were paying taxes.

 

“We have so many professionals doctors, lawyers, surgeons, but only 2, 200 professionals declare their annual income of over 1 crore. There would be more like this is the Supreme Court itself,” said Modi.


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