Taxable incomes over Rs 1 crore surge fivefold in India: Report

The number of individuals reporting taxable incomes over Rs 1 crore has skyrocketed, jumping fivefold from 44,078 in the assessment year (AY) 2013-14 to nearly 2.3 lakh in AY 2023-24, according to a report, attributing the increase to rising incomes and improved tax compliance


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