Number of crorepati taxpayers surges 323% in 10 yrs

The number of taxpayers with 1 crore plus gross annual income surged 323% to 350,129 in 2023-24 from 82,836 in 2013-14 while the number of income-tax assesses saw a 120% jump in last one decade to 79,212,146, signifying the government's policy nudge to deepen and widen the tax base while shielding the middle class, according government officials aware of the matter.

- Rajeev Jayaswal

Similarly, taxpayers with a gross income between 50 lakh and 1 crore saw a growth of 440% in the last 10 years -- their number rose from 109,171 in 2013-14 to 589,762 in 2023-24, they added, requesting anonymity. The growth in taxpayers earning between 20 lakh and 50 lakh in these 10 years was 526.5%, they said, citing provisional data.