On Mar. 22, 2017 NPR’s Julie McCarthy wrote “Why Do So Few People Pay Income Tax In India?” Of 1.2 billion people only 27 million pay income taxes. The per capita income is $1600 and Indians don’t have to pay if it is under $3700. Many rich people do not pay taxes at all.
“Late last year, India sought to force people with large amounts of cash stashed away to deposit it in bank accounts. It was a tax-collecting exercise to get people to disclose unreported wealth and pay up.”
Copyright 2017 DJ Cline All rights reserved.