Over 86 million income tax returns were filed in India in the assessment year 2024. There were over 44 million taxpayers in the income group of 250 thousand to 500 thousand Indian rupees, the highest across all other income categories.

At the end of 2024, the number of entities liable to pay the goods and services tax in India under the "normal taxpayer" category consisted of more than 13 million taxpayers. Overall, there were over 14 million registered GST taxpayers during this time. The GST was introduced by the Indian government on July 1, 2017, as a singular indirect tax on the supply of goods and services, which replaced most of the existing indirect taxes levied in the country. GST structure While the GST is paid by consumers, it is conveyed to the government by the businesses providing the goods and services. Currently, GST has a tier tax structure of 5 percent, 12 percent, 18 percent, and 28 percent, with some exceptions for gold and real estate. Items such as food, education, and healthcare are exempt from GST. Luxury items and comfort goods are categorized under higher slabs, whereas necessities are included in lower and nil slab rates. The Goods and Services Tax Network (GSTN) provides a single interface for taxpayers and governments. The system provides processes like registration, filing of returns, and tax payments, online. Impact on the economy GST implementation has proved to be beneficial on various fronts. These include higher revenues, uniformity in taxation, increased transparency, elimination of cascading taxes, online process, and efficient logistics and distribution system. As the GST gains wider acceptance, it is slowly leading to the formalization of the Indian economy.

As per Indian Union Budget estimates for financial year 2023, direct taxes accounted for 51.5 percent and indirect taxes accounted for 48.5 percent of total central tax collection in India. The source mentions that due to a cut in the corporate tax rate in 2019 and an increase in excise duty in financial year 2021, the share of direct taxes witnessed a fall following 2019. In a progressive tax system, the share of direct taxes is higher than indirect taxes.

Total Union Budget Allocation for Economic Affairs under Ministry of Finnace, It includes allocation for National Savings Institute,Interest on deposits under Compulsory Deposit (Income Tax Payers) Scheme,Forward Markets Commission (FMC) ,Contribution to UNDP,Budget Prepration ,Indian Economic Service (IES) officers.

An average of 79% of Bangladeshi households were in the 2 lowest income quintiles (after housing costs were deducted) between April 2019 and March 2022