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| Photo Credit: V. RAJU
Individuals reporting annual whole income of over ₹1 crore have doubled to 1.69 lakh in the two-year interval ending March 2022, the income tax division knowledge confirmed.
As per the tax return knowledge filed in evaluation 12 months (AY) 2022-23, relating to income earned in fiscal 2021-22, 1,69,890 people have proven whole income of above ₹ 1 crore.
This is increased than 1,14,446 people who had proven comparable income in AY 2021-22.
The quantity has doubled since AY 2020-21, whereby 81,653 people had declared an income of over ₹1 crore.
During AY 2022-23, over 2.69 lakh entities, together with people, corporations, corporations and trusts, have proven whole income of above ₹1 crore.
This consists of filings by 66,397 corporations, 25,262 corporations, 3,059 trusts and 2,068 Association of Persons.
In AY 2022-23, the overall quantity of ITR filed stood at over 7.78 crore, increased than almost 7.14 crore filed in AY 2021-22 and seven.39 crore filed in AY 2020-21.
As regards the state-wise submitting depend for AY 2022-23, Maharashtra topped the chart with 1.98 crore ITRs being filed, adopted by Uttar Pradesh (75.72 lakh), Gujarat (75.62 lakh), and Rajasthan (50.88 lakh).
The record additionally consists of West Bengal (47.93 lakh), Tamil Nadu (47.91 lakh), Karnataka (42.82 lakh), Andhra Pradesh (40.09 lakh) and Delhi (39.99 lakh).