The Statistical data relating to filing of Income Tax Returns for FY 2011-12 is released by Income Tax Department. The numbers will help to analyse and understand more of the Income Tax Return filing trend for the year.
I) Income Tax Returns declaring 'Salary Income':
The Highest number of Returns are filed by Persons having Salary Income between Rs.5.5 lacs to 9.5 lacs.
II) Income for Business or Profession:
Around 3.11 crore Taxpayers have reported Income from Business or Profession. The highest number of taxpayers in this Head ranges again between Rs.5.5 lacs to Rs.9.5 lacs. There are only 45,570 taxpayers in FY 2011-12 who have reported Income more than Rs.1 crore from Business/Profession.
Lets discuss about Corporates i.e. Companies now.
III) Companies having Income from House Property:
IV) Companies having Business Income:
There are 6.35 lacs Companies who have reported Income from Business of which 3.24 lacs have reported either Nil Income or lacs i.e. almost 50% of the total companies!
26,299 Companies have filed Return stating Income more than Rs.1 crore during FY 2011-12.
V) Let us have a look at types of Industries in which Business is reported by Corporate and non-corporate taxpayers:
The highest category of business where maximum numbers of business is done in India is Trading (Others) followed by Service Sector (Others) and then Trading (Retailers)
(Author can be reached at By- Sonu Mehla Mobile- 8285910007 E-Mail- sonuandfirm@gmail.com)