The quantity of taxpayers making over ₹1 crore per year has climbed by about 60 per cent in India in the last 4 years.
According to the Central Board of Direct Taxes (CBDT) data, the quantity of taxpayers making over ₹1 crore per year has climbed by about 60 per cent in India in the last 4 years.
While 88,649 taxpayers disclosed earnings above ₹1 crore in 2014-15, the number grew to 1,40,139 in 2017-18, the data stated.
It further stated, around 80 per cent surge was recorded in the quantity of returns filed during the specified period.
The CBDT is a statutory authority running under the Central Board of Revenue Act, 1963. The officials of the Board in their ex-officio capacity also function as a Division of the Ministry dealing with matters relating to levy and collection of direct taxes.
