* India’s super-rich club of those earning above Rs.500 crore has only 3 individuals
* Over 1.7 lakh people had filed income tax returns with zero income in 2017-18
NEW DELHI: If data from the income tax department’s records is taken into account, India had more than 97,000 people earning a taxable income of over ?1 crore in the financial year 2017-18.
The Central Board of Direct Taxes (CBDT) has now come out with a detailed break-up of data collected from income tax returns (ITR). According to the report, the number of crorepati taxpayers in India shot up 20% to 97,689 during assessment year 2018-19 or FY 2017-18. The number of such individuals having taxable income of over ?1 crore stood at 81,344 during AY 2017-18.
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