If you’re still a non-filer, you’re paying double the tax on routine financial transactions. From online fund transfers to profits on savings, being a filer can help you retain more of your hard-earned money.
Online Transfers & Withdrawals
| Transaction | Filer | Non-Filer |
|---|---|---|
| Bank transfers or electronic transfers over Rs. 25,000 | 0.3% | 0.6% |
- ✅ Filers pay half the rate on money transfers through banking channels or digital platforms.
- ❌ Non-filers pay double the withholding tax for every large online or ATM transaction.
Profit on Savings & Investment Instruments
| Income Source | Filer | Non-Filer |
|---|---|---|
| Profit on National Savings Schemes or Post Office (Above Rs. 500,000) | 10% | 17.5% |
| Profit on debt paid by banks (Above Rs. 500,000) | 10% | 17.5% |
| Profit on bonds, debentures, certificates, securities (Above Rs. 500,000) | 10% | 17.5% |
| Profit on deed or debt-based income | 10%–15% | 17.5% |
Important Note: Withholding tax is automatically deducted by financial institutions. If you’re not a filer, you’re losing a significant portion of your passive income in unnecessary taxes.
Why This Matters for You
- High taxes on savings and investments discourage financial growth for non-filers.
- You’re paying more on every transfer, withdrawal, or profit received.
- Even low-income individuals lose thousands yearly in silent deductions.
Real-Life Example:
If you receive Rs. 1,000,000 in profit from National Savings,
- As a filer, you’ll pay Rs. 100,000 in tax
- As a non-filer, you’ll pay Rs. 175,000 — a loss of Rs. 75,000 just for not filing returns!
Become a Filer & Save Every Time You Transact
By appearing on the Active Taxpayer List (ATL), you ensure:
- Lower tax rates
- More take-home profit
- Eligibility for loans and financial benefits
- Protection from audit penalties