 "India's millionaires in numbers")
Prime Minister Narendra Modi on New Year’s eve said only 2.4 million people in India accepted that their annual income was more than Rs 10 lakh.
Expressing surprise, he had said,”Can we digest this? Look at the big bungalows and big cars around you.” Even as those declaring income over Rs 10 lakh, including Hindu Undivided Families, rose 27.2% in 2013-14 year-on-year to 2.04 million and then by 20.8% in 2014-15 to 2.4 million, the numbers remain small in proportion to the number of those who filed returns.
These taxpayers constituted 5.4% of the total of those filing returns in 2012-13, 5.9% in 2013-14 and 6.6% in 2014-15.
Expressing surprise, he had said,”Can we digest this? Look at the big bungalows and big cars around you.” Even as those declaring income over Rs 10 lakh, including Hindu Undivided Families, rose 27.2% in 2013-14 year-on-year to 2.04 million and then by 20.8% in 2014-15 to 2.4 million, the numbers remain small in proportion to the number of those who filed returns.
These taxpayers constituted 5.4% of the total of those filing returns in 2012-13, 5.9% in 2013-14 and 6.6% in 2014-15.
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