Key Points
According to the latest data presented in Parliament by Minister of State for Finance Pankaj Chaudhary, the number has escalated to over 2.16 lakh for the Assessment Year 2023-24, as of December 31, 2023...
Minister Pankaj Chaudhary furnished assessment year-wise statistics, revealing a substantial surge in the number of individuals submitting Income Tax Returns (ITRs) with an income exceeding Rs 1 crore..
Furthermore, the data indicates a continuous upward trajectory, with the number of ITRs filed by individuals with income surpassing Rs 1 crore for Assessment Year 2023-24 reaching 2.16 lakh as of December 31, 2023...
Additionally, Minister Chaudhary highlighted an increase in the total count of individuals reporting income under the category of 'Profession' for Assessment Year 2023-24..
The surge in the number of high-income earners, coupled with positive trends in direct tax collection, portrays promising indicators for India's economic growth trajectory...
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