India has seen a whopping growth of 68 per cent in the number of people who have disclosed an income of more than Rs 1 crore in 2017-18., data released by the Central Board of Direct Taxes (CBDT) has shown. From 48,416 crorepatis in 2014-2015, the club now boasts of 81,344 members.
The CBDT, the policy-making body of the IT department, said the total number of taxpayers, including corporates, firms, Hindu undivided families (HUFs) and individuals, has also seen a growth of about 60 per cent in the same time period.
The latest figures take into account a time period of three years, as assessment year 2014-15 has been taken as the base year, a senior CBDT official said.
The data also shows a growth of more than 80 per cent in the number of income-tax returns filed in the last four financial years — from 3.79 crore in 2013-14 to 6.85 crore in 2017-18.
