India’s Crorepati Surge: Tax Filers with ₹1 Crore+ Income Up 5X!

How many people in India earn more than one crore rupees every year?

Before I tell you the latest number, let me tell you how it was ten years ago.

In 2013-14, the number of individuals who earned over a crore stood at just over 44,000.

Now, here's the kicker.

In just a decade, the number of individuals declaring more than one crore in taxable income has surged a whopping five-fold

And that figure now stands at nearly 2.3 lakh in 2023-24.

Interestingly, more than half of these crore plus earners are salaried individuals.

But as you move up the income ladder, businessmen and professionals dominate. For instance, none of the 23 individuals declaring over ₹500 crore in annual taxable income are salaried!

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