2.2 lakh Indians now earn over ₹1 crore

According to the latest stats from the Income Tax department, over 220,000 people in India now report a taxable income above ₹1 crore—and what's even more surprising? Almost half of them joined this club in the last three years!

So, what’s behind this astronomical rise in taxable incomes? Here’s a quick look:
- #Salaries: Post-COVID, salaries have shot up across many sectors. Earning ₹50 lakhs annually, which was once rare, is now increasingly common. While job losses are real, salary cuts aren’t as widespread
- #StockMarkets: With more people trading in small caps, F&O, and receiving bigger dividends, markets are shaping the financial futures of many Indians—and adding to taxable income
- #Rental Incomes: Tax rules are stricter now, making it harder to hide rental income, which in turn bumps up taxable income levels. Remember we all love Gold and Real estate!
- #ESOPs: The #startup boom and post-COVID listings have created thousands of crorepatis, with many reaching the top tax brackets through ESOPs. With #Swiggy's listing today, a few more are added to the count!
- #AIS Reporting: The IT department’s #data analytics advancements mean even minor incomes like savings account interest are now tracked and added to the income

But here's the catch—taxes on these incomes are no joke! #Surcharges on income over ₹50 lakhs (10%) and ₹1 crore (15%) have remained static for ages, just like other deductions impacting wider taxpayers like Sec 80C! So whether it's rich or poor, the tax department always wins!