ITR: The number of income tax payers has increased surprisingly. While the number of crorepati taxpayers was only 44 thousand in the financial year 2013, this figure has reached 2.2 lakh in the financial year 2024. In just 10 years, the Indian economy has showered wealth on the rich. This has been revealed in the report of SBI Economic Research. This report includes all those people who have declared their assets more than one crore rupees in the assessment year. 

Personal income tax collection surpassed corporate tax 

According to this report of SBI Economic Research, due to continuous improvement in the tax system, the share of direct tax has increased to 56.7 percent in the total tax revenue. This figure was 54.6 percent in the financial year 2023. Also, this figure is the highest in 14 years. Personal Income Tax collection has overtaken Corporate Tax collection. Also, the total number of taxpayers has also increased 2.3 times in a decade. In the assessment year 2024, the total taxpayers have increased to 8.62 crores. The highest increase is of those earning more than Rs 10 lakh. 

Middle class grew rapidly, ITR filing figures also increased 

The report says that the middle class segment in the country is growing rapidly. People with income of Rs 1.5 to 5 lakh in assessment year 2014 have come into the income group of Rs 2.5 to 10 lakh in assessment year 2024. Also, the number of women taxpayers has also increased to 15 percent of the total taxpayers. SBI Group Chief Economic Advisor Soumya Kanti Ghosh said that the number of ITR filings is increasing every year. The government has worked to bring the low income group forward by making schemes for them. 

There are 334 billionaires in the country, 75 new billionaires were added in one year

According to the recently released Hurun India Rich List, there are a total of 334 billionaires in the country. As of 2023, 75 new billionaires have been added to this figure. A total of 97 cities were included in this list. This figure is also increasing every year. The number of Income Tax Returns is increasing every year. This year about 7.3 crore people have filed ITR. By March 2025, this figure can cross 9 crore.