The number of crorepati taxpayers shot up 20 per cent to 97,689
during assessment year (AY) 2018-19, as per tax returns data released by
the revenue department. The number such individuals
having taxable
income of over Rs 1 crore stood at 81,344 during AY 2017-18.
The
Central Board of Direct Taxes on October 11 released time-series data
updated up to fiscal year 2018-19 and income-distribution data for AY
2018-19 (fiscal year 2017-18).
The data includes income-distribution information of corporate, firms, Hindu Undivided Families (HUFs) and individuals.
If
all taxpayers are included, the number of those with taxable income of
more than Rs 1 crore per annum rises to about 1.67 lakh, a 19 per cent
rise over AY 2017-18.
In all, more than 5.87 crore income tax
returns were filled, as per the statistics generated from e-filed
returns (digitally signed, e-verified or where ITRV has been received)
submitted up to August 15, 2019.
The data revealed that over 5.52
crore individuals, 11.3 lakh HUFs, 12.69 lakh firms and 8.41 lakh
companies were among those who filed returns.