Number of Indian income tax filers above 100 crore rupees increases fourfold

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The government told the Lok Sabha that the number of individuals declaring income above Rs 100 crore in their income tax returns rose fourfold, from 142 in assessment year 2021-22 to 576 in 2025-26.
Minister of State for Finance Pankaj Chaudhary shared these figures in a written reply.
He also said the term 'billionaire' has no legal definition under the Income Tax Act, and that the government only tracks people declaring annual income above Rs 100 crore.
The Wealth-tax Act of 1957 was abolished from April 1, 2016, so the government holds no data on individuals' total assets and follows a progressive tax system with surcharges on higher incomes.

Year-by-year trend of Rs 100 crore income declarants (142 to 576 over five years) to see if the growth continues
Any future legislative moves on defining or taxing high wealth, given the Wealth-tax Act's abolition in 2016
Further government disclosures in Parliament on high-income taxpayers

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Named India · Lok Sabha · Ministry of Finance · Pankaj Chaudhary

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