Speaking at an event, Narendra Modi has commented that only 2,200 professionals declare income over Rs 1 Cr. He described it as a shocking phenomenon. "Only 1.5 crore Indians pay taxes. Out of this, only 3 lakh people have declared their income over Rs 50 lakh and 2,200 people over Rs 1 crore. It is shocking," the PM said, as quoted by the BJP.
As per critics, it's not 2,200 but more than 98,000. However, they seem to have missed the fact that the PM was referring only to professionals, not even all salaried ones.
It seems 1.5 crore Indians is a gaffe in the statistics quoted by the PM.
From what Modi has said, it appears that the government and the Income Tax department are bent on ensuring strict compliance in the coming years. "This is good, as tax evasion is a serious problem plaguing the system," a commentator says.