The government of India released the income tax report for the past 16 years last week. The provisional 2014-2015 figures show that just about 4.87 crore people filed tax returns, making it less than 4 percent of the population if we consider the total population at 125 crore. In the years before that, the number of those who paid taxes is even less. In 2012-2013, the figure was close to only about 1 percent of the population. CNBC-TV18's Ronojoy Banerjee caught up with corporate lawyer HP Ranina to discuss the issue.
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