IT Dept Data: 1.69 Lakh Individuals Declare Income Above Rs 1 Cr, A 2x Increase In 2 Years
As per the tax return data filed in assessment year (AY) 2022-23, 1,69,890 individuals have shown total income of above Rs 1 crore. (Representative image)During AY 2022-23, over 2.69 lakh entities, including individuals, companies, firms and trusts, have shown total income of above Rs 1 crore.
Income Tax Return: Individuals reporting annual total income of over Rs one 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 Rs 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, w...