Rs 100 crore+ income club sees most entries in 4 years
The Indian government reported a record increase in the number of individuals disclosing annual incomes exceeding Rs 100 crore in the 2024-25 fiscal year. This growth in the 'super rich' tax bracket is being used by the government to highlight the success of efforts to widen the direct tax base.
Why it matters
The data reflects shifting wealth distribution and the government's ongoing efforts to improve tax compliance and increase the direct tax-to-GDP ratio.
NEW DELHI: Government on Monday said that there were 576 individuals who had disclosed a gross income of over Rs 100 crore during financial year 2024-25 (assessment year 2025-26), with 161 added during the year.The additions during the year also mark the highest number in at least four years. While it is a small fraction of the around 8.1 crore who filed returns in 2024-25, govt is drawing comfort from the rise in number of taxpayers who are disclosing higher income. Given the rising level of exemptions over the years, more than 60% of those who filed returns regularly have not paid any tax.Most of the taxpayers in the "super rich club" of over Rs 100 crore will be non-salaried, given by past trends.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in