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  • Category: Miscellaneous

    A lot of Indians are getting richer.

    The statistics for the assessment year 2015-16recently released by Income-tax Department reveals that many Indians are coming into the tax bracket. For the assessment year 2015-16, about 81,98,950 individuals submitted their returns with an income of fewer than 2.5 lakhs per annum. The previous year ie the assessment year 2014-15, the number is 13,715,161. But the persons in the income group of 2.5 to 3.5 lakhs raised by 65% for the same period. There is an increase of 25% in the income group of 5.5 to 9.5 lakhs. The persons who had an income above one crore increased by 23.5%. The combined income of all income tax returns filers is around 21.27 lakh crores compared to 18,41 lakh crores in the previous year. Are these figures not indicating that many Indians becoming richer? (Figures are taken from the newspapers).
  • #620891
    In the past, it was very rare to see a lakhpathi, only very few could be lakhpati. But in the present days, there are hardly any lakhpathi to see. The least is the millionaire who possess wealth of ten lakhs(a million) All have grown and become millionaires and multi millionaires, and many have become billionaires. Even the Indian beggars have grown rich to have a good bank balance.

    Is there anyone who is not a millionaire in ISC?

    No life without Sun

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