India is left with only two persons whose annual salaried income is more than Rs 100 crore, the income tax returns statistics released for the assessment year 2017-18 revealed on Monday.
Earlier, in the past two assessment years of 2015-16 and 2016-17, there were five salaried individuals who earned above Rs 100 crore per annum.
The number of individuals earning a salary income between Rs 1 crore and Rs 5 crore has, however, increased to 39,203 from 28,919 in 2015-16.
More than 1,600 taxpayers declared salaries ranging from Rs 5 crore to Rs 10 crore. There were 526 individuals with salary of over Rs 10 crore but less than Rs 25 crore, the data showed. The total number of taxpayers (corporates, firms, Hindu undivided families among others) showing income of above Rs 1 crore have seen a sharp rise.
“While 88,649 taxpayers had disclosed income above Rs 1 crore in assessment year 2014-15, the figure was 1,40,139 in 2017-18, which is a growth of about 60%,” the CBDT said.
It said the number of individual taxpayers disclosing income above Rs 1 crore had increased from 48,416 to 81,344, a growth of 68%.
CBDT chairman Sushil Chandra said these numbers were a result of putting in a number of legislative, informative and enforcement efforts over the last four years. A growth of more than 80% was registered in the number of returns filed in the last four years from 2013-14 to 2017-18.