By Admin 
Income Tax: It is the responsibility of every citizen to pay tax. It is also a very big source of revenue of the government. The government uses this tax money for all the basic things like health, safety. However, many times the super rich people of the country are reluctant to pay this tax. We are not saying this, rather it has been revealed in a recent report. & Nbsp;
Super rich
Ram Singh, a member of the RBI Monitori Policy Committee and director of the Delhi School of Economics, found in his study that there are many rich people in the country who are paying less taxes, stating their income less and thus they are paying only one part of their property. Due to this, their tax contribution is minimized. Some people are paying less than 0.7 percent tax on their property. & Nbsp;
The correct income information is not given in the tax record
Based on the affidavits of the candidates of the Lok Sabha elections, the list of forces of the forbes and the income tax data & nbsp; Ram Singh’s analysis found that a large part of the capital income of these rich people is not seen in their tax records.
The study also found that as the property with taxpayers increases, the tax decreases compared to their total assets. He also said in his research paper, the richest 0.1 percent people are those whose tax liabilities are about 0.7 percent. & Nbsp;
Ultra rich
The study also emphasized that the ratio of wealth-to-inches of India’s richest people is much lower than the returns on their properties. Increasing 1 percent of family property means that an average decline of 0.6 percent in the income-property ratio mentioned. It was told that low income-welfare ratio among India’s ultra-rich people is a major reason for avoiding tax. & Nbsp;
Read also: