Did you know less than 3% of Indians paid income tax in AY19?
Budget 2020 is just two days away and expectations of income tax breaks for salaried Indians are at their peak. An economic slowdown that needs a consumption boost warrants tax cuts that will leave more in the hands of the taxpayers, but did you know that less than 3% of Indians paid income tax in assessment year (AY) 2018-19? The average tax paid by these taxpayers was ₹2.3 lakh, according to the income tax department.
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