Individuals reporting annual income of above ₹1 crore doubles in 2 years to 1.69 lakh
The Hindu
Individuals reporting annual total income of over ₹1 crore have doubled to 1.69 lakh in the two-year period ending March 2022, the income tax department data showed
Individuals reporting annual total income of over ₹1 crore have doubled to 1.69 lakh in the two-year period ending March 2022, the income tax department data showed.
As per the tax return data filed in assessment year (AY) 2022-23, relating to income earned in fiscal 2021-22, 1,69,890 individuals have shown total income of above ₹ 1 crore.
This is higher than 1,14,446 individuals who had shown similar income in AY 2021-22.
The number has doubled since AY 2020-21, wherein 81,653 individuals had declared an income of over ₹1 crore.
During AY 2022-23, over 2.69 lakh entities, including individuals, companies, firms and trusts, have shown total income of above ₹1 crore.
This includes filings by 66,397 companies, 25,262 firms, 3,059 trusts and 2,068 Association of Persons.
In AY 2022-23, the total number of ITR filed stood at over 7.78 crore, higher than nearly 7.14 crore filed in AY 2021-22 and 7.39 crore filed in AY 2020-21.