Income Tax Return: The deadline for individual income tax filing in the country has been completed on 31 July 2023 and many facts are now coming out from the data related to it. This year’s income tax return filing data has revealed that the number of taxpayers with income above Rs 1 crore in the country has increased rapidly.

What was the number of taxpayers paying tax above Rs 1 crore

According to a report in the English newspaper Indian Express, the number of taxpayers with income above Rs 1 crore among the ITR filers for the financial year 2022-23 has been 2.69 lakh. This is 49.4 percent more than the year 2018-19 before the crisis of Kovid. In this way, in the last 4 years, the official number of people earning more than Rs 1 crore has increased by almost 50 percent, which can be considered as a sign of increase in the number of income tax payers in the country.

Data of taxpayers with income above Rs 1 crore

According to the e-filing data of the Income Tax Department, the number of taxpayers with income above Rs 1 crore in the financial year 2022-23 was 2.69 lakh, which was 1.93 lakh in the financial year 2021-22. Whereas in the financial year 2018-19 it was at 1.80 lakh. If we look at the number of taxpayers paying income tax of more than Rs 1 crore as compared to the year 2019-20, an increase of 41.5 per cent has been seen in it. On the other hand, compared to this period, the number of people paying income tax of more than Rs 5 lakh has increased by only 0.6 percent.

Taxpayers with income above 5 lakh increased by 1.4 percent

Similarly, an increase of 1.4 per cent has been seen in the number of taxpayers with income above Rs 5 lakh. Compared to the financial year 2018-19, there are 1.10 crore taxpayers in the tax bracket of Rs 5 lakh to Rs 10 lakh.

The figure of taxpayers who filed tax this year was something like this