Income Tax Statistics revealed

All India Income tax statistics for the year 2012-13 was released in the month of April, 2016 by the finance ministry. The statistics is released after a gap 15 years. The last statistics was released in the year 2000 and latter only aggregate level data was made available such as total number of tax payers, total revenue etc.
The data was revealed after the popular request of French Economist and author of the best seller “Capital in the twenty first century”, Thomas Piketty. He is known for his work on wealth and inequality and took part in the “Jaipur literature festival”.

Chief economic advisor Arvind Subramanian had given assurance in releasing the statistics and also accused the previous government for not doing it. However Piketty has stressed that the statistics of one year was not sufficient for making a meaningful analysis on income distribution. The data released by the government will be helpful in studying the evolution of income distribution. Central Board of Direct Taxes (CBDT) released income tax assessment statistics for the year 2012-13, PAN allotment data for 2013-14 The government further has agreed to reveal all the statistics for the years 2010-15. The statistics have revealed the poor compliance norms in India. The country has only one tax payer for every 28 voters. 1 percent of the population pays 80 percent of the tax.

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