Number of crorepatis has risen by 60% to 140,000 in last three years: CBDT

Annual growth in the number of crorepatis was 68%

The number of taxpayers earning above Rs 10 million (Rs 1 crore) per annum has risen to over 140,000 in the country in the last three years, depicting a growth of about 60 per cent, the Central Board of Direct Taxes (CBDT) said Monday.

Releasing key statistics of income tax and direct taxes for a period of about four years, the policy-making body of the IT department said the number of individual taxpayers earning over Rs 10 million (Rs 1 crore) annually had seen a growth of about 68 per cent.

"The total number of taxpayers (corporates, firms, Hindu undivided families among others) showing income of above Rs 10 million has registered a sharp increase.

"While 88,649 taxpayers had disclosed income above Rs 10 million in assessment year 2014-15, the figure was 1,40,139 for AY 2017-18, which is a growth of about 60 per cent," the CBDT said.

Similarly, it said, the number of individual taxpayers disclosing income above Rs 10 million had increased during the same period from 48,416 to 81,344, which translated into a growth of 68 per cent.

CBDT Chairman Sushil Chandra said these numbers were a result of putting in a number of legislative, informative and enforcement efforts by the tax department over the last four years.

The data also added that a growth of more than 80 per cent was registered in the number of returns filed in the last four financial years -- from 3.79 crore in 2013-14 to 6.85 crore in 2017-18.