How many crorepati in India? 59,830, says the Income Tax dept

May 12, 2018, 10:16 AM IST
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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.

 

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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.

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These 59,830 crorepati with gross total income of over Rs 1 crore had a cumulative income of Rs 1.54 lakh crore.

 

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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. 

 

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In AY 2015-16, the maximum number of 1.33 crore individuals was in the Rs 2.5-3.5 lakh income group. 

 

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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.

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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.

 

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