Quick Summary
India has witnessed a sharp increase in the number of individuals declaring annual incomes exceeding Rs 1 crore, even as the overall growth in income-tax return filings remains subdued. The trend points to a growing concentration of reported income among higher earners and improved compliance at the top end of the tax base. Data available from the Income Tax Department's e-filing portal shows that the count of crorepati taxpayers rose by nearly 22% in FY26, while the total number of income-tax
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FAQ :
The number of individuals declaring annual incomes exceeding Rs 1 crore rose by nearly 22% in FY26.
The total number of income-tax returns filed increased by only around 1% in the same period.
The strongest growth was observed in the four highest income categories, from Rs 50 lakh to above Rs 10 crore, each expanding by over 20%.
Experts attribute the surge to strong income growth, higher wages, better bonus payouts, improved business profitability, and enhanced tax compliance due to stricter reporting norms and data analytics.
Experts suggest it's more about better identification and disclosure of existing high-value incomes rather than an abrupt rise in newly created wealth.
The deadline for filing income-tax returns for AY 2025-26 was December 31, 2025.
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