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How India – Our Government Treasury Gets Its Money…

How India - Our Government Treasury Gets Its Money...
Photo courtesy: Google

Different taxes and fees are critical and the main source for income or revenue for the central government.

So from where and how does it gets its money:

1) Income Taxes generates over 23% – of the countries 120+ crore population, only 2 crore returns are filed and around 1.5 crore pay any taxes of, but these are going up;

2) Corporates pay around 28% of the total taxes and this has gone down due to lowering of tax rates;

3) Customs duty brings in around 13%;

4) Excise duties bring in over 21%; and

5) Alcohol, Tobacco taxes and other duties bring in the rest.

So let us remember that paying taxes is really important to have a functional government and a country that is advancing in so many areas.

Source: The Hindu

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  • 2 Feb 2018

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