Crorepati Club of Income tax payers expands 60% in last 3 years: CBDT

According to data disclosed by Central Board of Direct Taxes, India has 81,000 individuals with disclosed income of above Rs 1 crore per annum, the number has expanded by over two-third in last three years.

Releasing key statistics of income tax and direct taxes, the I-T 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.