I-T data analysed: 1 taxpayer owes 11% of India's individual income tax

There were 64 taxpayers with a tax liability of over Rs 500 crore in 2014-15

An unnamed taxpayer owed the government Rs 21,870 crore for the assessment year 2014-15, which was 11% of income tax to be paid by all Indians, according to 2016 data, the latest available, from the Income Tax department.

While three individual taxpayers declared business income of over Rs 500 crore, two individual taxpayers declared long-term capital gains of over Rs 500 crore in 2014-15 (for the year 2013-14). The names of these taxpayers are not made public.

The richest 1% Indians own 58% of India’s wealth,