Crorepati taxpayers up 20% to 97,689 in AY2018-19: CBDT

Crorepati taxpayers up 20% to 97,689 in AY2018-19: CBDT

Representative image. (Photo/Pixabay)

The number of crorepati taxpayers shot up 20 per cent to 97,689 during assessment year (AY) 2018-19, as per tax returns data released by the revenue department.

The number such individuals having taxable income of over Rs 1 crore stood at 81,344 during AY 2017-18.

The Central Board of Direct Taxes on Friday released time-series data updated up to fiscal year 2018-19 and income-distribution data for AY 2018-19 (fiscal year 2017-18).

The data includes income-distribution information of corporate, firms, Hindu Undivided Families (HUFs) and individuals.

If all taxpayers are included, the number of those with taxable income of more than Rs 1 crore per annum rises to about 1.67 lakh, a 19 per cent rise over AY 2017-18.

In all, more than 5.87 crore income tax returns were filled, as per the statistics generated from e-filed returns (digitally signed, e-verified or where ITRV has been received) submitted up to August 15, 2019.

The data revealed that over 5.52 crore individuals, 11.3 lakh HUFs, 12.69 lakh firms and 8.41 lakh companies were among those who filed returns.