How much tax did Harshad Mehta pay in 1992?
Harshad Mehta owed Rs 5,200 crore to the government as income tax and Rs 103 crore as wealth tax.
How many individual taxpayers are there in India?
A total of 5.78 crore individuals filed their income tax returns for the financial year 2018-19. Out of this, 4.32 crore individuals reported income below the tax bracket. A further breakup of the number reveals that 3.16 lakh people reported an income of over Rs 50 lakh.
Was Harshad Mehta a defaulter?
“I spend the entire day with one investigative agency or another,” he explained. After all, he was India’s highest tax defaulter in those days. In fact, according to an Income Tax Appellate Tribunal report, he was still number three at Rs 12,000 crore in 2010 – almost a decade after his death.
What was the income tax rate in 1990?
During the 1990s, the top rate jumped to 39.6 percent. However, the Economic Growth and Tax Relief and Reconciliation Act of 2001 dropped the highest income tax rate to 35 percent from 2003 to 2010.
What was the highest tax rate in 1970?
Economic growth and corporate tax rates, 1947–2010
|Year||Real GDP growth||Statutory rate|
What was Harshad Mehta net worth in 1992?
According to a report by the Janakiraman Committee of RBI, the 1992 scam was worth Rs 4025 crore. The biggest case in this was of 600 crore fraud done with SBI.
Did Harshad Mehta pay all money?
Harshad Mehta made some sensational claims in the aftermath of the securities scam. One of those claims was that he received support from powerful people in the government. He even claimed to have paid Rs 1 crore to the then Prime Minister PV Narasimha Rao. The charges were never proven.
Which caste is rich in India?
Upper caste Hindus are the richest community in India owning 41% of total assets: Study. A recent wealth distribution survey revealed that just 22% of upper caste hindus own almost 41% of the total wealth in India. According to the survey, the Scheduled Tribes accounted for the lowest share, in terms of assets at 3.7%.
Is Jain are Hindu?
Jainism is considered to be a legally distinct religion in India. A section of scholars earlier considered it as a Hindu sect or a Buddhist heresy, but it is one of the three ancient Indian religions.