How many crorepati in India? 59,830, says the Income Tax dept
Income Tax department for tax assessment year 2015-16 showed that individuals with over Rs 1 crore of declared income rose 23.5 per cent to 59,830, but there has been a deterioration in income.
How many crorepati in India? Income Tax department for tax assessment year 2015-16 showed that individuals with over Rs 1 crore of declared income rose 23.5 per cent to 59,830, but there has been a deterioration in income.
These 59,830 crorepati with gross total income of over Rs 1 crore had a cumulative income of Rs 1.54 lakh crore.
Statictics showed that in the assessment year (AY) 2014-15, the 'crorepati' individuals or those with gross income of over Rs 1 crore (Rs 10 million) were 48,417 with a cumulative income of Rs 2.05 lakh crore.
In AY 2015-16, the maximum number of 1.33 crore individuals was in the Rs 2.5-3.5 lakh income group.
In AY 2015-16, of the 1.2 billion Indian citizens, 4.07 crore filed tax returns with close to 82 lakh showing zero or income less than Rs 2.5 lakh.
From Rs 18.41 lakh crore in the previous assessment year, the combined income of all individual tax filers rose to Rs 21.27 lakh crore in AY 2015-16.