Fri, May 06, 2016, 10:11 AM
According to IT department website, about 2.9 crore people have filed IT returns so far. It is only 4 per cent of 76 per cent, who are tagged as earning capacity people. That means, 96 per cent people are not under IT bracket. Union Finance Ministry says annual income of 18,359 persons is more than Rs 1 crore. While the automobile sales record has revealed that 25,000 cars worth more than Rs 40 lakh were sold in previous year. Questions are being asked about bringing changes in direct taxation.