India has 31.5 million taxpayers

Monday, 30 July 2007, 07:00 Hrs
Printer Print Email Email
New Delhi: In a country of over a billion people, only 31.5 million people pay taxes, and this is after the number of taxpayers has grown by nearly 11 percent between March 2002 and March 2006.

In response to a Right to Information (RTI) query by seasoned RTI campaigner P. Hari Kumar, 24, of Kasaragod in north Kerala, the finance ministry has said that the number of taxpayers has increased from 28.4 million in 2002 to 31.5 million in 2006.

Replying to another RTI application, the Directorate of Income Tax (Systems) has said that a total of 54 million Permanent Account Numbers (PAN) had been allotted till July 5, 2007.

PAN is a 10 digit alphanumeric number issued in the form of a laminated card, by the income tax department.

In its bid to tighten the tax net and ensure that a larger number of people pay taxes, the government has made it mandatory for everyone to quote the PAN number for income tax returns and correspondence with any income tax authority.

PAN numbers are also needed to open a bank account, pay income tax, purchase and sell shares and securities, purchase movable property that needs registration, apply for visas and passports or bank loan and to file tax returns.

Likewise, there are 1.8 million Tax Deduction and Collection Account Number (TAN) holders across India.

TAN is a 10 digit alphanumeric number that must be obtained by anyone who is responsible for deducting or collecting tax. It is compulsory to quote TAN in TDS/TCS return, any TDS/TCS payment challan and TDS/TCS certificates.
Source: IANS
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..