Number of 'crorepatis' has risen by 60% in India: CBDT

NEW DELHI: The number of taxpayers earning above Rs 1 crore in line with annum has risen to over 1.40 lakh within the nation within the remaining four years, depicting a growth of about 60 in line with cent, the Central Board of Direct Taxes (CBDT) said on Monday.

Releasing key statistics of income tax and direct taxes for a length of about four years, the policy-making frame of the IT department said the number of person taxpayers earning over Rs 1 crore every year had observed a growth of about 68 in line with cent.

"The total number of taxpayers (corporates, companies, Hindu undivided families among others) showing income of above Rs 1 crore has registered a sharp building up.


"While 88,649 taxpayers had disclosed income above Rs 1 crore in review yr 2014-15, the figure was 1,40,139 for AY 2017-18, which is a growth of about 60 in line with cent," the CBDT said.


Similarly, it said, the number of person taxpayers disclosing income above Rs 1 crore had higher right through the similar length from 48,416 to 81,344, which translated into a growth of 68 in line with cent.


CBDT chairman Sushil Chandra said those numbers have been a result of putting in place numerous legislative, informative and enforcement efforts via the tax department during the last four years.


The data also added that a growth of greater than 80 in line with cent was registered within the number of returns filed within the remaining four monetary years -- from 3.79 crore in 2013-14 to 6.85 crore in 2017-18.
Number of 'crorepatis' has risen by 60% in India: CBDT Number of 'crorepatis' has risen by 60% in India: CBDT Reviewed by kailash soni on October 22, 2018 Rating: 5
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