Guess How Many People Pay Income Tax? You Will be Surprised

It is that time of the year, when the salaried class starts praying for incremental tax concessions in the annual budget. Analysts, however, say that the government should focus on increasing the tax net instead of announcing new income tax concessions. (Also read: Income Tax Expectations From Arun Jaitley) That's because only 3 per cent of over 1 billion people in the country are estimated to pay income tax. Those who earn Rs 21,0...