New Delhi: Data released by the income tax department revealed that the number of individuals reporting annual total income of over Rs 1 crore have doubled in 2 years. As per the tax return data filed in (AY) 2022-23, 1,69,890 individuals reported annual total income of over Rs 1 crore.
In assessment year 2021-22, 1,14,446 individuals had shown similar income. The number has doubled since AY 2020-21, wherein 81,653 individuals had declared an income of over Rs 1 crore.
During AY 2022-23, over 2.69 lakh entities, including individuals, companies, firms and trusts, have shown total income of above Rs 1 crore. This includes filings by 66,397 companies, 25,262 firms, 3,059 trusts and 2,068 Association of Persons.
Also Read: UAE residents warned against fake call from ‘Big Ticket Abu Dhabi’
In AY 2022-23, the total number of ITR filed stood at over 7.78 crore, higher than nearly 7.14 crore filed in AY 2021-22 and 7.39 crore filed in AY 2020-21.
As regards the state-wise filing count for AY 2022-23, Maharashtra topped the chart with 1.98 crore ITRs being filed, followed by Uttar Pradesh (75.72 lakh), Gujarat (75.62 lakh), and Rajasthan (50.88 lakh). The list also includes West Bengal (47.93 lakh), Tamil Nadu (47.91 lakh), Karnataka (42.82 lakh), Andhra Pradesh (40.09 lakh) and Delhi (39.99 lakh).
Post Your Comments