The GoI recently waived-off pending taxes for FY2011 and from FY2011 - FY2015.
Most people utilize Section 80C to its fullest by investing in schemes like PPF, NPS, and ELSS.
Many people transfer money r\from one mutual fund scheme to another.
For the current fiscal year, the Centre has budgeted a net tax revenue Rs 23.3 lakh crore.