India is now home to 81,000 individuals with disclosed income of above Rs 1 crore per annum, with this ‘crorepati club’ expanding by about 68 per cent in last three years, the Central Board of Direct Taxes (CBDT) data showed on Monday.
Releasing key statistics of income tax and direct taxes, the policy-making body of the IT department said the total number of crorepati taxpayers, which includes corporates, firms, Hindu Undivided Families (HUFs) and individuals, has also seen a growth of about 60 per cent during the same time period.
“The total number of taxpayers (corporates, firms, Hindu undivided families among others) showing income of above Rs 1 crore has registered a sharp increase over the three-year horizon.
“While 88,649 taxpayers had disclosed income above Rs 1 crore in assessment year 2014-15, the figure was 1,40,139 for AY 2017-18, which is a growth of about 60 per cent,” the CBDT said.
