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RE: Only 1.7% ie. 20 Million Indians out of 1.27 Billion pay Income Tax. Govt. trying to hit on 80 Million Crypto-Currency Traders
Regularly it's around 30% for highest tax slab. Issue is if the income tax department believes arbitrarily that if the income isn't according to their norms they charge 200% under undisclosed income section. And in most such cases it's 200% and until you fight it out.
I see, thanks for the answer. It's indeed alarming then, no wonder so few people pay taxes when even tax department itself doesn't play by its own clear rules resorting to shady ones instead. Such tricks bring opposite effect.