Hyderabad woman working in IT sector pays Rs 10 crore Income Tax

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Hyderabad: Breaking the trend of cinema stars being the highest income tax payers, a top management professional form an IT company in the city has emerged the highest income tax payer.

According to Income Tax department, a woman has paid about Rs 10 crore as Income Tax for the year 2017-18. This implied that her salary was three times more than the tax- pegging it around Rs 29-30 crore.

“A woman working in the Information Technology sector in the city drew a salary of nearly Rs 30 crores during the 2018 under salaried employees category. Approximately 30 per cent of that income was taxed, said Principal Chief Commissioner of Income Tax (TS and AP) S P Choudhury.

He declined to give specific details.

“This kind of salary is possible only for the expats coming here for a specific period. On the other hand, the sum could have been arrived by adding up all the perks and incentives, which are linked to the performance of the company. She might have had stock options, which is seen as salary by the Income-Tax department,” said an industry veteran, who himself was the managing director of an IT company in the city.