Top 1.5% account for 19% of total earnings: Tax returns data show disparity

The top 1.5 per cent of individuals who filed income tax (I-T) returns accounted for 19 per cent of the total income in financial year 2017-18 (FY18). 

This is a rise from 17 per cent in 2015-16 and highlights an increase in inequality.

The trend emerges from the latest data on I-T released by the department of revenue recently and complements findings of the National Statistical Office’s (NSO’s) consumer expenditure data for the year 2017-18. 

It shows higher spending by the top segments of the society, even as overall spending declined by 3.5 per cent. The top 1 per cent