Highlights

  • The number of individuals declaring over ₹1 crore taxable income grew 5x from 44,000 in AY13-14 to 2.3 lakh in AY23-24
  • Over 50% of individuals earning ₹1 crore+ are salaried, but none of the 23 earning over ₹500 crore are salaried

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India's crorepati count has surged 5X in a decade, with 2.3 lakh individuals declaring ₹1 crore+ income in AY2023-24. Over half are salaried. India's tax base is booming, and billionaires are multiplying—now totaling 334, according to Hurun India Rich List.

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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