Rs 100-crore income taxpayers nearly quadruple in five yrs

New Delhi: The number of taxpayers declaring annual income of more than Rs 100 crore has nearly quadrupled over the past five years, the government informed Parliament on Monday.

In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said 576 individuals reported annual incomes exceeding Rs 100 crore in Assessment Year (AY) 2025-26, up from 142 in AY 2021-22 — an increase of about 300 per cent during the period.

The number of such high-income taxpayers stood at 301 in AY 2022-23, dipped marginally to 284 in AY 2023-24, before rising to 415 in AY 2024-25 and further increasing to 576 in AY 2025-26.

In addition, the government clarified there is no statutory definition of the term ‘billionaire’ under the Income-Tax Act, 2025.

Accordingly, it shared data relating to individuals reporting annual incomes above Rs 100 crore based on income tax return filings.