Panchkula, July 28 -- The number of ultra-high-income taxpayers in India has increased significantly.
In the past five years, individuals declaring Rs 100 crore or more in their Income Tax Returns have risen over fourfold, according to data presented in Parliament.
Union Government data presented in the Lok Sabha shows that 576 individuals reported a gross income of Rs 100 crore or more in Assessment Year 2025-26, up from 142 in 2021-22. This marks the highest figure in five years. This information came in a written reply to a question about the rise in billionaires, wealth concentration, and income inequality. Year-by-year data shows India's super-rich taxpayer base is growing quickly.
The number of people reporting Rs 100 crore or more...